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Plan for the Future.
The Coverdell Education Savings Account (ESA) is an investment tool designed to help pay for the future cost of a child’s education.
- Contribute up to $2,000 annually per child until age 18.
- Contributions are made with after-tax funds.
- Contributions and earnings are tax-free when withdrawn to pay for qualified education expenses.
- Contributors do not have to be a member of the child’s family.
- Total annual contributions from all sources can’t exceed $2,000 per child.
- You may change the designated beneficiary to another qualifying family member.
- Ask us about additional requirements and restrictions.
- Member FDIC.
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