I recently opened a new checking account. I have a new debit card, associated with the checking account. I’ve been using the debit card for a couple of months, mainly for smaller purchases like gas and food. Well, I logged in to my Upromise account today – and I realized that I had forgotten to register my new debit card.…
Category: College
Opening A Coverdell Education Savings Account For My Child (Coverdell ESA)
I just downloaded the forms for opening a Coverdell Education Savings Account for my son. I opened an ESA for my daughter a few years ago, when she was four. My son will be four in a few days, and I am ready to begin funding an ESA for him. Contributions to a Coverdell ESA grow tax-free. Total contributions are…
Saving For College – What Is An ESA – Coverdell Education Savings Account – Education IRA
I have opened two ESAs, one for my daughter and one for my son. An ESA – Education Savings Account – is an account created as an incentive to help parents and students save for education expenses. (See IRS Pub 2007 -59) Overview of the account – The annual contribution limit per beneficiary (student) is $2000. A beneficiary (student) is…