Coverdell Education Savings Account

A Coverdell Education Savings Account is a type of tax-preferred savings account to encourage taxpayers to save for future education expenses.  The current annual contribution limit is $2,000 per designated beneficiary.  The account must be established prior to the beneficiary's 18th birthday.

These funds can be used to pay for college, technical school, postgraduate work, elementary and secondary education (kindergarten through grade 12) expenses incurred in public, private, or religious schools.

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