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A Coverdell Education Savings Account Can Help Secure Your Child’s Future

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Higher education can come with high costs. Fund it tax-free with a Coverdell Education Savings account.1,2

Let your contributions grow tax-free to help fund a beneficiary's (child) primary and post-secondary education expenses

The purpose of a CESA is to fund the future cost of a beneficiary's (child) primary and post-secondary education at an eligible school, college, or vocational school

Non-deductible contributions of up to $2,000 annually per designated beneficiary under age 18. The beneficiary may be a child, grandchild, or another eligible relative

Distributions for qualified higher-education expenses, such as tuition, fees, books, supplies, equipment, and other related expenses, are both tax-free and IRS penalty-free

Contributions must stop when the beneficiary reaches the age of 18, and funds must be distributed by age 30. If funds are not distributed, they can be rolled over into a new Coverdell account for the benefit of a different qualifying relative

To learn more about this tax-free, IRS penalty-free savings option, contact Columbia Bank to connect with a representative. Visit a local branch or give us a call and begin saving with the Coverdell Education Savings Account today.


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Investments are NOT FDIC Insured, not Bank guaranteed, not a deposit, and not insured by any federal government agency. Investments may lose value.


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