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 Preparing For the Ultimate Vacation Make your retirement as exciting as your next vacation. Split Annuity Strategy Here's one strategy that combines two different annuities to generate income and rebuild principal. Annuity Comparison This calculator compares a hypothetical fixed annuity with an account where the interest is taxed each year.