What is a Coverdell Educational Savings Account?
Coverdell Education Savings Accounts (ESAs) are designed to help save for a child’s education. Although the beneficiary owns the account, a parent or guardian serves as the “responsible individual,” managing investment choices and withdrawals until the beneficiary reaches age 30. Funds can be withdrawn tax-free when used for qualified education expenses, including tuition, fees, books, supplies, and required equipment.
Learn more about qualified expenses.
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