Ask Bob: College Savings Accounts - Coverdell or 529?

Robert Powell

Question: Under what circumstances would it make sense for me to open a Coverdell education savings account, a CESA, versus other types of education accounts such as a 529 plan? What are the pros and cons of CESAs?

Answer: Coverdell education savings accounts, or CESAs, are more limited than 529 plans, says Mark Kantrowitz, the publisher and vice president of research at Savingforcollege.com.

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