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.
