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 Dreaming Up an Active Retirement When you retire, how will you treat your next chapter? Layers of Protection Take these five steps to protect your financial well-being before making any other changes. IRA Withdrawals that Escape the 10% Tax Penalty The list of IRA withdrawals that may be taken without incurring a 10% early penalty has grown.