Coverdell Education Savings

Earn high marks and interest as you outsmart outrageous student debt. A Coverdell Education Savings Account (ESA) offers a tax-free place to save for the rising costs of tuition, board, books and more*.


Set up a Coverdell ESA for any individual under the age of 18. And ensure a bright future for your young academic by contributing what you can each year**.

Summary
  • No setup or annual fee
  • Interest grows tax-free
  • Withdrawals are tax-free when used for qualified education expenses*
  • Designated beneficiary must be under 18 when contributions are made
  • To contribute to an ESA, certain income limits apply**
  • Contributions are not tax deductible
  • $2,000 maximum annual contribution per child
  • FDIC insured
  • Explore the Paying For College section in the Financial Answer Center

*Qualified expenses include tuition and fees, books, supplies, board, etc.

**Consult your tax advisor to determine your contribution limit.

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Coverdell Education Savings