Should You Tap Retirement Savings to Fund College? There are three things to consider before dipping into retirement savings to pay for college. Share | Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content Systematic Withdrawals in Retirement Taking regular, periodic withdrawals during retirement can be quite problematic. Federal Income Tax Use this calculator to estimate your income tax liability along with average and marginal tax rates. Saving for College 101 Here’s a crash course on saving for college.