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Personal > Savings Accounts > Education Savings Account

Education Savings Account

Coverdell Education Savings Accounts (ESAs) are trust accounts that allow you to save money to fund a beneficiary’s education. 


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Coverdell Education Savings Account Benefits

  • All contributions to ESAs are tax free
  • Unlimited number of separate accounts can be opened for the same beneficiary
  • Accounts can help any beneficiary under the age of 18 or with special needs
  • Educational expenses cover elementary, secondary, and post-secondary schools

Coverdell Education Savings Account Requirements

  • Contributions must be made before the beneficiary turns 18, unless they have special needs
  • Account must be closed by the time the beneficiary is 30, unless they have special needs

For more information about Coverdell Education Savings Accounts, contact us today!