The Coverdell Education Savings Account is a non-deductible account that features tax-free withdrawals for a child's education expenses.
- Contributions are made with after tax dollars.
- There can be more than one contributor per account, and contributions can be received from corporations or tax-exempt organizations.
- Earnings grow tax-free, if used for qualified education expenses, including private elementary and secondary schooling, plus higher education through a vocational school, college or university.
- Minimum opening deposit of $100.
For more information, please contact the Fowler State Bank Trust Department at 765-884-1200 or 800-439-3951.