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Coverdell Education Savings Account

Get a head start on your child’s education with a Coverdell Education Savings Account.

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Planting the seeds for your child’s future.

A little planning can go a long way toward saving for education. The Coverdell Education Savings Account is one option. While contributions are nondeductible, your beneficiary enjoys the advantages of tax-free earnings and withdrawals for qualified educational expenses.

Easy Deposits

Save more with automatic payroll deposits or account transfers.

Tax-Free Withdrawals

No penalty tax and federal income tax free for a qualified expense.

No Monthly Fees

You won't worry about monthly fees eating away at your earnings.

Another way to save for education.

Similar to how an IRA helps you save dedicated funds for retirement, a Coverdell Education Savings Account (CESA) helps you save for specific expenses in a child’s elementary, secondary or higher education. You can add up to $2,000 to a child’s account annually. Eligible expenses typically include tuition, books and supplies, equipment, and room and board.*

Family congratulating and hugging their son who is in a graduation cap and gown

*For additional information, call our Account Services - IRA Department at 1 800 692-2274, option 8, ext. 8165, or in the Minneapolis/St. Paul metro area, call 952 997-8165.