This article will focus on Education Savings Accounts
and Qualified State Tuition Programs, also known as Section 529 plans.
The contribution amount to a Coverdell Education Savings Account
is limited by a taxpayer's adjusted gross income (AGI).
The overwhelming majority of parents want to save for their children's education, but there is no education savings account
that meets their needs.
Coverdell Education Savings Accounts
(CESAs, formerly known as Education IRAs) have been around for awhile.
Beyond our trademark $7 online trades2, we offer a rich suite of no-nuisance-fee investing options, including individual retirement accounts, mutual funds, exchanged-traded funds, bonds, certificates of deposit and education savings accounts
Rick Scott signed into law the country's second education savings account
You should look to contribute to both a 529 college savings plan and a Coverdell education savings account
However, in 2002, law changes governing these accounts made the Coverdell Education Savings Account
(ESA) an attractive alternative.
In 2001, the taxpayer cannot contribute to both an Education Savings Account
(IRA) and a State Tuition Program in the same year, but in 2002 the taxpayer may contribute to both.
The leaders of the 105th Congress, despite distractions, did cater a lot to the demands of their Religious Right allies, passing a voucher plan for the District of Columbia, extending "charitable choice" legislation, passing an education savings account
plan, voting on an anti-separation constitutional amendment and introducing a litany of other church-state legislation.
For parents with small children, saving now using a plan such as a 529 College Savings Plan or Coverdell Education Savings Account
can help them prepare for when the child becomes a college-bound teenager.
It works like the Coverdell Education Savings Account
, formerly the Education IRA.