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 Contents Self-Employed Retirement Plans Estimate the maximum contribution amount for a Self-Employed 401(k), SIMPLE IRA, or SEP. When Should You Take Social Security Monthly Social Security payments differ substantially depending on when you start receiving benefits. 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.