Coverdell Education Savings Account

  • Contribute up to $2,000/year for your own child, grandchild, niece or nephew – any child under the age of 18
  • The CESA is a nondeductible account that features tax free withdrawals for a child’s higher education expenses.
  • You do not have to have earned income to contribute
  • All earnings on the CESA are tax free if they are used for educational expenses.
  • No withdrawal penalties apply if used for education expenses.