Start saving for your child’s future education with an eligible tax-free account.
Tax-Free Educational Savings Fund
Are you expecting to pay future education costs? A Coverdell Education Savings Account (ESA) is an ideal account for education saving and spending. With an ESA you can pay tax-free for elementary, secondary and college expenses - including tuition, books and uniforms.
Prepare for your child’s future success with a tax-advantaged ESA.
With a Coverdell ESA you get:
Cover Education Expenses
Spend from the account tax-free on all qualifying education expenses.
Tax-free, penalty-free distributions.
$2,000 Annual Limit
Contribute up to $2,000 tax-free dollars annually, for up to 18 years.
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Anyone can make contributions of up to $2,000 for the beneficiary.
No, if the funds are used for qualified educational expenses, the disbursement is tax-free and penalty-free.
No, the funds can be withdrawn at any time if they will be used for qualified educational expenses.
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