Coverdell Education Savings
Give your child an education to get ahead, not payments that put your student behind. A Coverdell Education Savings Account (ESA) lets you save for the costs of higher education while earning competitive dividends. Then make withdrawals tax-free to cover qualified expenses*.
Tuition, room, board, and books can add up in a hurry. Plan for your young one's tomorrow, today.
- Essentials
- No setup or annual fee
- Dividends grow tax-free
- Withdrawals are tax-free when used for qualified education expenses*
- Designated beneficiary must be under 18 when contributions are made
- To contribute to an ESA, certain income limits apply**
- Contributions are not tax deductible
- $2,000 maximum annual contribution per child
- NCUA insured
*Qualified expenses include tuition and fees, books, supplies, board, etc.
**Consult a tax advisor.
