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Coverdell Education Savings Account

Coverdell Education Savings Account Definition

Coverdell Education Savings Account - ESA is a tax-advantaged investment account created as an incentive to help parents and students save for future education expenses. Contributions to the account are not deductible, but amounts deposited in the account grow tax deferred until distributed.


Additional meaning of Coverdell Education Savings Account:

The amount can be withdrawn tax free for qualified education expenses such as tuition, books, uniform, etc. The range of qualified expenses includes primary and secondary school, not just college and university. The account is named for the late Senator Paul Coverdell.





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