Start saving for college (and even K-12 expenses) to take advantage of tax savings, and feel secure knowing you’re prepared. Plus, since both 529 and Coverdell plans allow you to change your beneficiary, you’ll have flexibility to provide for children’s different needs with the convenience of one account.
Compare Educational Savings Accounts
- Accessible for in and out of state K-12 tuition and college
- Custodian-owned for financial aid purposes
- Invest in state-created age-based securities portfolios
- No yearly contribution limits
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Federal: No
Tax Deductible Contributions
State: Varies by state -
No
Income Limits
- Accessible for K-12 expenses, including special education and college tuition
- Select from a wide range of securities
- Student-owned for financial aid purposes
- $2,000 per child yearly contribution limit
-
Federal: No
Tax Deductible Contributions
State: No -
Yes
Income Limits
KIS does not give tax or legal advice. The comments regarding tax treatment in this material simply reflects our understanding of current interpretations of tax laws as they apply to the products covered in this material. Since tax laws are always subject to interpretation and possible changes, we recommend that you seek the counsel of an attorney, accountant or other qualified tax advisor regarding these matters as they apply to your particular situation.
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