Saving for College

Saving for College

3 simple ways to get started

Saving for your child’s future higher education may seem daunting and impossible as college tuition and expenses continue to rise. But, if you follow a few simple steps you can set your college savings plan up for success. 

Choose from a Coverdell Education Savings Account, a Blue Bucks Kids' Savings Account or Certificates of Deposit.  Each option providing FDIC-insured savings for your child.

If you have any questions, or would like to speak to a Capitol Federal® representative about the best options for you, please contact us.

Open An Account

Open an account at any of our branch locations. Enter your zip code to find a CapFed® branch nearest you.

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coverdell education savings account

The Coverdell Education Savings Account helps parents save and pay for their children’s education at any level – from kindergarten through college. Coverdell contributions aren't tax deductible, but withdrawals aren't subject to federal income taxes as long as they are used for "qualified education expenses" like tuition and fees. Start saving for your child’s future today.

Perfect for…

- Parents and Grandparents
- Saving for college

More About Coverdell

start saving early and often

Don’t wait until the first year of high school to begin planning how to pay for college. If you have a set amount you are willing and able to provide for your child, start saving to reach that goal from day one. Start putting savings away as early as possible, even if it’s just a little bit – every dollar will help. You can open a Blue Bucks Kids’ Savings account for your child and make recurring transfers from your CapFed® checking account. This makes your savings strategy easy and automatic.

More About Kids Savings
Girl sitting on blue couch
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certificate of deposit for higher returns

Open a 12-month, variable rate CD, just for kids or use a laddering strategy with a range of short- to long-term CD rate options for a greater, ongoing return. Certificates of Deposit provide the security of FDIC insured savings with locked in, guaranteed rates. CDs can be a good option for long-term savings, like saving for college, because longer terms typically have higher interest rates.

Open a CD Now CD Rates