Help Them Pay for College
Invest in the education of your child or family member. A Coverdell Education Savings Account (CESA) is a tax-advantaged account that can be set up for someone under 18 to help them pay for education-related expenses. While contributions are not tax deductible, the earnings are tax free if used for qualified expenses before the child reaches age 30.
- Help someone under 18 save for education
- Earnings are tax free (if used for qualifying purposes)
- Annual contribution limits