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 How to Bake a Pie-R-A Roth IRAs are tax advantaged in a different way from traditional IRAs. Catch-Up Contributions Workers 50+ may make contributions to their qualified retirement plans above the limits imposed on younger workers. Retirement Plan Distributions There are a number of ways to withdraw money from a qualified retirement plan.