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 Tax Freedom Day Assess how many days you'll work to pay your federal tax liability. Insurance Needs Assessment: For Empty Nesters and Retirees Do your insurance needs stay the same when the nest empties? What Is My Life Expectancy? Estimate how many years you may need retirement assets or how long to provide income to a surviving spouse or children.