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Coverdell Education Savings Account (CESA)

Categories: Tax, Trusts and Estates

Coverdell accounts are similar to other college savings programs like 529 accounts. All of them offer the ability to save money tax-deferred (as long as the money is then used only for college costs. And yes, ramen noodles count as an expense), but the CESA has a much broader definition of "eligible post-secondary school," making it easier to get training in a field outside the "traditional" college system. Very good deal if you qualify.

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