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The funds in an education IRA can be withdrawn tax free when they are needed for educational purposes.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
Graduate Management Admission Test - GMAT
Income Tax
Individual Retirement Account - IRA
Registered Retirement Savings Plan - RRSP
Roth IRA
Simplified Employee Pension - SEP
Traditional IRA
More Related Terms

Related Links

Special Feature: Individual Retirement Accounts (IRAs) - If planning for your retirement has you confused, you''re not alone! Our IRA feature is your one-stop shop for everything you need to know about IRAs.
5 Ways To Fund A College Education - You can go to college without going broke, but it may take an unconventional approach.
Find High Yield CDs - Retire in style. Search for the 100 highest yielding CD's from Bankrate.com. Click Here!
Investing In Your Child's Education - Overwhelmed by increasing tuition costs for your kids? The U.S. government can help.
Don't Forget The Kids: Save For Their Education And Retirement - Retirement and education financing are the two most important planning items for taxpayers.
Choosing The Right Type Of 529 Plan - Before you fund one of these education-savings vehicles, be sure you know their differences.

Rate this Term: Your Rating: Overall Rating: Vote Now!