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Coverdell Education Savings Plans (CESAs)

Help your child’s college savings grow right along with them.

A Coverdell Education Saving Plan (CESA) is a smart way to save for your child’s education because the money you set aside can grow tax-free. What’s more, you can withdraw funds tax-free as long as the money is used to pay education expenses.
  • Grow your child’s education funds tax-free.
  • Covers primary and secondary educational expenses.

Who it’s for?

Parents who are looking for a smart way to help pay for their child’s primary, secondary, and college educational expenses by investing in an account where the money can grow tax-deferred.

What’s in it for you?

  • State and federal tax-deferred growth on earnings for Wisconsin residents.
  • Tax-free withdrawals for qualified education expenses.
  • FDIC insured on North Shore Bank CDs.
  • Automatic deposits allowed.
  • No annual administration or maintenance fees.
  • Can be consolidated with other Coverdell Education Saving Plans (CESAs)

What else you need to know?

  • Qualified education expenses include tuition, books, supplies, required fees, and room and board expenses.
  • Does not affect eligibility for a Hope Scholarship or Lifetime Learning Credit.
  • Funds are considered an asset of the beneficiary.

What you need to know about eligibility and contributions.

  • Your eligibility to contribute to a Coverdell Education Saving Plan (CESA) depends on your modified adjusted gross income. To be able to make a contribution, your income must fall within required limits. Learn more about the Coverdell Education Saving Plan (CESA).

Still have questions? We can help.

  • E-mail us.
  • Call us at 877.672.2265.
    (8:30 am until 7:00 pm CST, Monday through Friday, 9:00 am until 5:00 pm CST, Saturdays, & 10:00 am until 3:00pm CST, Sundays)
  • Stop by your neighborhood branch.