Coverdell Educational Savings
Our children are the future, and nothing is more important than providing them with a good education. This tax-advantaged account, helps you save to make sure when it's time to go to college, they have the funds to pay for it!
This account allows annual contributions every year until the recipient hits age 18.There are no setup or annual fees, and you don't even have to be related to recipient to contribute. Start saving for the future today.
- Summary
- Set aside funds for a child's college expenses
- No annual fee or set up charges
- Formerly called Educational IRAs
- Earnings grow tax free
- Withdrawals tax free when used for qualified education expenses
- Contributions are NOT tax deductible
- Contributions can be made until the child is 18 years old
- Funds must be distributed when recipient reaches age 30
- Maximum annual contribution of $2,000 per contributor
- Contributors do not have to be related to recipient
