Coverdell Education Savings Account (CESA)

It's never too early to start saving for your child's education - let us help you get started


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CESA Product Features & Benefits

  • Choose from a savings or a wide range of CD terms

  • Tax-free earnings on after-tax dollars and tax-free withdrawals for qualified education expenses1

  • Rollover of unused account funds, without penalty, to other family members under age 30

  • Ability to contribute until the beneficiary turns age 18 (anyone may contribute to a CESA, limit of $2,0002)

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  1. Withdrawals are tax and penalty free if used for qualified education expenses. Funds must be fully withdrawn when the beneficiary reaches age 30, and any amounts not used for qualified education expenses are subject to an additional 10% tax penalty.
  2. Based on an IRS formula, the allowed contribution is reduced when AGI (adjusted gross income) exceeds these limits.