Coverdell Education Savings Account

The Coverdell ESA is a savings plan created for the purpose of paying a student’s qualified educational expenses. These can include, but are not limited to:

  • tuition
  • books
  • uniforms


Similar to a 529 plan, your money is tax-deferred, allowing your fund to grow faster.

Contributions to a Coverdell ESA are not tax-deductible. In addition, contributions are allowed for individuals under the age of 18.

Distributions from a Coverdell ESA may be tax-free, but they must be used to pay for qualified educational expenses.

With a Coverdell ESA account, you can invest in a wide variety of products including stocks, bonds, and mutual funds.

The maximum contribution per year is $2,000.

Account Minimums:

$2,000 maximum per designated beneficiary

College Planning

A good college plan is a road map that can guide you through school to college, advise you and what to do, and track your progress throughout the process…

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Key Facts and Highlights

Education Savings Accounts


No income limitations. No extra fees or expense ratios.


Financial advice, support, and planning service.


Each state establishes their own minimum and maximum fees.


Contributions must be made in cash vs. securities transfers.

Custodial Account

The Uniform Gift to Minors Act (UGMA) and the Uniform Transfer to Minors Act (UTMA) make it simple to transfer property to a minor without a formal trust and without the restrictions applicable to the guardianship of a minor’s property.

529 Plans

A 529 Plan is a great way to save for college and gain tax benefits. It allows you to save for college while your money grows tax-deferred. The 529 Plan is designed to meet the needs of virtually every family and every budget.