Save for your child’s future with a Coverdell Education Savings Account. This account offers the potential for tax-free interest earnings when used for qualified educational expenses, giving you a smart way to plan for your child's academic future.
Contribution Eligibility and Amount:
- Flexible Contributions: There’s no requirement to have earned income to contribute to a Coverdell ESA. However, contribution limits may apply based on your income level.
- Not Tax-Deductible: Contributions aren’t tax-deductible, but the tax-deferral benefits make this account a valuable tool for education savings. Check with your tax advisor for personalized advice.
Allowable Contribution Amount:
- For Single Filers:
- Less than $95,000: Full $2,000 contribution allowed
- $95,000 to $110,000: Partial contribution allowed
- Over $110,000: No contribution allowed
- For Married, Joint Filers:
- Less than $190,000: Full $2,000 contribution allowed
- $190,000 to $220,000: Partial contribution allowed
- Over $220,000: No contribution allowed
Start planning for your child’s educational success. Open a Coverdell ESA at a Capitol Federal branch today!
Blue Bucks® Kids’ Savings Account
A Blue Bucks® Kids’ Savings account is a great way to teach the kids in your life the importance of saving.
- Low initial investment of $25
- Easy online transfers between CapFed® parent and child accounts
- Blue Bucks Kids’ Club newsletters and activities
- VIP Parking at most of our locations
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