1. What Is an Education Savings Account (ESA)?

    College Education SavingsThe Internal Revenue Service provides various tax incentives for college financial planning. One of the most popular IRS
    tax incentives for college financial planning is the Coverdell Education Saving Account or ESA for short. An ESA is an account created to help parents save for future educational expenses. As in everything created by the IRS, there are extensive rules governing the proper use of Coverdell Education Saving Accounts.

    Let’s take a closer look at several Education Savings Account rules.