Education Savings Account
Saving for the Next Generation
Whether you’re saving for your child’s, grandchild’s or other eligible young person’s education, an Education Savings Account (ESA) is an investment in future generations. And, Scottrade delivers convenience and value with its Coverdell ESAs, offering no set-up, annual or inactivity fees and easy online account management features.
Aiming to give a child an even greater head start on adult life? At Scottrade, it’s easy to simultaneously prepare youth for their financial future. Consider opening a Custodial Account as well as an ESA. You can make investments on a minor’s behalf until the child reaches the age of majority, usually 18*. Along the way you’ll gain countless opportunities to teach invaluable lessons about saving and money management.
Investing in a Coverdell ESA
Choose to grow your assets tax-free in a Coverdell ESA, and we’ll reimburse you up to $100 when you transfer your existing account to Scottrade**. Other typical Coverdell ESA benefits include tax-deferred earnings and tax-free distributions.
*ESAs are not eligible for contributions after the date of a child’s 18th birthday.
** Terms and Conditions
Scottrade will reimburse the account transfer fees up to $100 charged by another broker when you transfer your account with a value of $10,000 or more to Scottrade. You must apply for the fee reimbursement offer by completing and submitting a Scottrade Account Transfer Reimbursement Request form and a statement providing proof of imposed transfer fees. Account Transfer Reimbursement Request forms and proof of transfer fees can be mailed, faxed or personally delivered to your local Scottrade branch office. Reimbursement will be made to your account via a credit within 30 days of receipt of the Account Transfer Reimbursement Request form and proof of transfer fees. The transfer reimbursement does not currently have a termination date. However, Scottrade reserves the right to terminate this offer at any time without prior notice or extend the offer at its sole discretion. Void where prohibited.