Educational Savings Account
With tuition costs rising in these already difficult financial times, it's getting harder and harder to afford higher education. So why not start setting some money aside where it can earn interest until you need it?
An Educational Savings Account is an ideal way for you to begin saving money to help a child, grandchild, or any young person you know pay for higher education expenses down the road.
While contributions to an Educational Savings Account are not tax deductible, distributions used to pay for the qualified education costs of the named beneficiary are generally tax-free.