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Coverdell IRA (Educational Savings Account)

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A Versatile Tool for Education Savings

A Coverdell IRA is a savings account designed to help families save for educational purposes. It provides a tax-advantaged way to save for education-related costs. These accounts can be used for a wide range of educational expenses, including tuition, textbooks, tutoring, and other necessary supplies, including room and board if the student is enrolled at least half-time at any eligible K-12 or College institution.

Age, income level & contribution limitations may apply.

  • $50 minimum deposit
  • Higher dividend rates
  • Maximum contribution of $2000 each year, per beneficiary
  • Contributions can be made until the child is 18 years old and must be used by the age of 30.
  • Withdrawals are tax-free if used for educational purposes.
Start Your Education Savings Journey Today!

Maximize your savings for educational expenses. Empower your child's learning journey with tax-advantaged savings today!

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Rates effective as of: February 14, 2026

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