COVERDELL EDUCATION SAVINGS ACCOUNTS (ESA)
Know what’s smart? Planning ahead for educational costs. An MCCU Educational Savings Account can help you save with savvy.
- Pays for qualified higher education expenses of the beneficiary.
- A great tool for parents, grandparents, or anyone with a special child in their life.
- Annual contributions limited to $2,000 per beneficiary under age 18.
- Contributions are not tax-deductible. Earnings on contributions are tax-deferred until distribution.
- Unused funds may be transferred to another child of the family, providing planholder flexibility.