To get their degree, your son or daughter will have to show expertise in many subjects. To even get them into college, you'll likely need several savings and investment approaches. A Coverdell account can be an important piece of the puzzle. Open one early on, and someday you'll be able to make a big dent in those future tuition bills.
- Open a Coverdell account with as little as $100.
- Contribute as much as $2,000 annually per child.
- Enjoy tax-free distributions when funds are used for qualified educational expenses.
- Use funds for tuition, fees, room, board, books, supplies and education-oriented computer technology and equipment.
- Choose to use funds to cover private elementary or secondary school costs.