Should You Tap Retirement Savings to Fund College? There are three things to consider before dipping into retirement savings to pay for college. Related Content Understanding the Basics of Medigap Policies Important as it is, Medicare does not cover the full range of health-care expenses you may experience in your golden years. What to Do When You Lose Your Wallet Ever lost your wallet? Frustrating. Here’s what you can do to keep yourself safe. 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.