Coverdell Education Savings
Education is worth saving up for. With a Coverdell Education Savings Account, your child or beneficiary will be able to pay for education expenses with a tax advantage. Coverdell Education Savings distributions used to pay for qualified education costs for the account beneficiary are completely tax-free.
Coverdell Education Savings Account
| Maximum annual modified adjusted gross income to qualify** | $110,00 (single), $220,000 (joint) |
| Maximum contribution limit per beneficiary** | $2,000 |
| Maximum age of beneficiary to receive contributions | 18 |
| Tax-deductible contributions | No; however, distributions used to pay for qualified education expenses are tax-free |
| Online account access | 24/7 |
| Additional resources | |
| How to enroll | Contact us |
*Interest rates subject to change.
**These limits subject to change per IRS guidelines