Education IRA

What Does Education IRA Mean?
A savings plan for higher education. Parents and guardians are allowed to make nondeductible contributions to an education IRA for a child under the age of 18. The education IRA is now refered to as the Coverdell ESA.

Investopedia explains Education IRA
The funds in an education IRA can be withdrawn tax free when they are needed for educational purposes.

Related Terms

Coverdell Education Savings Account - ESA
Extended IRA
Form 1099-Q
Income Tax
Individual Retirement Account - IRA
Registered Retirement Savings Plan - RRSP
Roth IRA
Savings Incentive Match Plan for Employees of Small Employers - SIMPLE
Simplified Employee Pension - SEP
Traditional IRA
More Related Terms

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