A great savings plan for a child’s college expenses with tax benefits similar to a traditional IRA.

• Contribute up to $2,000 / year for each child under age 18
• Funds can be withdrawn tax-free for qualified education expenses
• Funds transferable to other qualified family members

Eligibility Requirements:

• The contributors modified adjusted gross income (MAGI) cannot exceed $95,000 if filing singly or $190,000 if married filing jointly.
• Funds can be withdrawn tax-free as long as the funds are used to pay for qualified education expenses including tuition for elementary, secondary, or college, either public or private.
• The money must be withdrawn before the child turns 30.

*Consult your tax advisor regarding your eligibility, contribution guidelines and other account requirements.