It's pretty much every parent's dream. To see their kids go to college, to a good school that fuels their passion for learning. But higher education comes at a high price. With a Coverdell Education Savings Account, you can start saving early, take advantage of tax benefits and have the finances you need on that proud day when your son or daughter says, "I got accepted."
- Contribute up to $2,000 a year
- Earn guaranteed interest on deposits
- Funds in account grow tax-free and there's no tax on withdrawals
- Use money for qualified education expenses, including tuition, room and board, books, supplies and equipment
- Funds can also be used to cover private elementary and secondary school costs
- Can be used in conjunction with other education savings accounts, including 529 Plans