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 Question Thank you! Oops! Related Content Defining Your Priorities Achieving a long-term goal, like retirement, starts by taking small actions today. Tax Deductions You Won't Believe Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative. Silver Sneakers 101 Medicare’s popular program, offering free gym membership and health education.