If you don’t make a 2016 Coverdell Education Savings Account (ESA) contribution by December 31, the opportunity will be lost forever. Contributions aren’t deductible, but ESAs can grow tax-deferred and withdrawals used for qualified education expenses (not just for college, but also for elementary and secondary school) are tax-free. Learn more about the rules surrounding ESA contributions and how they can help you save for education in our latest blog post.
529 plans offer a tax-advantaged way to fund college. With a prepaid tuition plan, tuition is guaranteed regardless of its cost when the child attends the school. But which 529 plan is right for you? This blog post breaks down the differences between the plans and how they can help you pay for college expenses.