With educational costs climbing each year, you can never start saving too soon for your child's education. To help you start saving for your child's future, Notre Dame Federal Credit Union offers the Coverdell Education Savings Account (ESA). Formerly known as an Education IRA, the Coverdell ESA is a great way for parents to save money for a child's educational expenses.
- Contribute up to $2,000* each year for children 18 and under
- Money grows tax-deferred
- Proceeds may be withdrawn tax-free
- Funds may be used to pay for educational expenses, such as tuition, books, and room and board, at qualified institutions, including elementary, secondary, and colleges/universities
- Transferable to another qualifying family member if child does not attend college
To view our disclosure, click here.
*Modified adjusted gross income may determine contribution eligibility.
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