A Coverdell ESA (Educational Savings Account) can help save for a child’s education expenses such as tuition, fees, books, supplies, equipment and in some cases, room and board.
Any family member or non family member can contribute to a child’s ESA as long as the income falls below the applicable income limits.
The responsible individual shall be a parent or legal guardian of the ESA owner. The responsible individual is the only one who can make withdrawals until age 30 and any balance after that age shall be distributed within 30 days.
Make contributions as often as you like, up to the legal limit. Build your IRA quickly and automatically with payroll deductions.
- Dividends accrue daily and are credited monthly
- Statements mailed quarterly
- Start with as little as $25