Coverdell Education Savings Accounts (ESAs) are a great way to help pay for your child’s educational expenses, such as tuition, fees, books, supplies, and equipment.
Unlike State 529 plans, Coverdell ESAs can be used to pay for qualified elementary and secondary education expenses. Your earnings grow on a tax-deferred basis and distributions are tax-free if the money is used to pay qualified education expenses. Yearly contributions cannot exceed $2,000 per child. Give your child the gift of education.
Rates are set by the Board of Directors and dividends are paid quarterly.