Education Savings Account

An Education Savings Account is set up to save money for education for a designated beneficiary (someone under 18 years of age). The earnings are tax free to the beneficiary if used for education. Deposits of up to $2000 per year can be made up until the child is 18. The funds can stay in the account until the beneficiary is 30 years old and the distributions are tax free and penalty free if used for education.

Click here for current rates.