Coverdell Educational Savings Account (ESA)
A Coverdell Educational Savings Account (ESA) is a custodial account or trust set up
to save for the beneficiary’s future education costs at any college that is eligible to
participate in a student aid program administered by the U.S. Department of Education.
The Coverdell ESA can also be used to pay for qualified educational expenses
at eligible elementary and secondary schools. Qualified education expenses for a
Coverdell ESA are: tuition and fees, books, supplies, and room and board. The Coverdell
account is set up through a variety of different providers. To see a sample list of
providers, visit http://www.savingforcollege.com/coverdell_esa_providers/.