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Coverdell Education Savings Account

College costs are rising fast. To prepare your family financially for higher education investments, it’s prudent to take advantage of a variety of savings programs as soon as possible. A Coverdell Education Savings Account (CESA) is a smart addition to your savings plan.

CESAs are federally-sponsored education vehicles to set aside savings for children age 18 and younger or for beneficiaries with special needs. Although CESA contributions are not tax-deductible, earnings can be withdrawn tax-free if assets are used for qualified educational expenses.1 Up to $2000 per child per year may be contributed to a CESA.

Advantages of CESAs include:

  • The potential for tax-free earnings1
  • Flexibility in investment options
  • Use of assets for elementary, secondary, or higher education expenses
  • Liberal rules for children with special needs

SAFE currently offers the following CESA options:

To open a Coverdell Education Savings Account, visit any SAFE branch, use online Live Help, or contact SAFE’s Call Center at (916) 979-7233 or (800) SEE-SAFE.

1 Consult your tax advisor regarding potential tax benefits.


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