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UGMA/UTMA account. no. General investment account. no. Education savings account (ESA). no Withdrawals. Coverdell ESA distributions must be used to pay qualified education expenses of a designated beneficiary.
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The Coverdell ESAs are trusts or custodial accounts set up for a beneficiary, such as a college student, to pay for qualified education expenses, such as tuition. Coverdell Education Savings Account (ESA). Learn how an ESA through M&T Securities, Inc. can help you save for a variety of education expenses while ESAs are not just for college. One advantage of an ESA plan is that you are allowed to take tax-free distributions for certain elementary and secondary education You can better prepare for education costs with an Coverdell Education Savings Account.
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