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Home » About Us » Current Events » Coverdell Education Savings Account (CESA)  Print View

Looking closer at the CESA IRA
 
What is a Coverdell Education Savings Account (CESA) you may ask? It's a powerful savings tool that can be used for elementary, high school or college expenses.
 
This nondeductible account features tax free withdrawals that can be used for a child's education expenses.
 
To be eligible, your modified adjusted gross income cannot exceed certain limits (contact your branch office to see if you're eligible).
 
This savings vehicle features the following benefits:
  • Nondeductible contributions (up to $2,000 per year)
  • Penalty free, tax free withdrawals (Roth IRA is only penalty free)
  • No minimum to open
  • Use for tuition, clothes, books, computer, room and board, etc...


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