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 Retirement Redefined Around the country, attitudes about retirement are shifting. Catch-Up Contributions Workers 50+ may make contributions to their qualified retirement plans above the limits imposed on younger workers. Self-Employed Retirement Plans Estimate the maximum contribution amount for a Self-Employed 401(k), SIMPLE IRA, or SEP.