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 The Power of Tax-Deferred Growth Why are 401(k) plans, annuities, and IRAs so popular? Women and Financial Strategies Most women don’t shy away from the day-to-day financial decisions, but some may be leaving their future to chance. Retirement Plan Distributions There are a number of ways to withdraw money from a qualified retirement plan.