Should You Tap Retirement Savings to Fund College? There are three things to consider before dipping into retirement savings to pay for college. Share | Related Content A Fruitful Retirement: Social Security Benefit Taking your Social Security benefits at the right time may help maximize your benefit. Retirement Traps to Avoid Beware of these traps that could upend your retirement. A Look at Systematic Withdrawals This calculator may help you estimate how long funds may last given regular withdrawals.