Through our custodian we can provide a full range of education products including Educational IRAs, 529 Plans, and US Series EE Savings Bonds.
Regardless of the plan chosen, you will have the advantages of our custody platform, which include online multicurrency reporting, portfolio accounting and corporate actions servicing.
Some of the educational accounts mentioned above, are covered in our Products & Services Section under Educational Services.
- Educational IRA: The Education IRA, also known as Coverdell Education Savings Accounts or simply “ESA”, is a tax-advantaged investment account in the United States designed to encourage savings to cover future education expenses (elementary, secondary or college), such as tuition, books, uniform, etc.
- 529 Plans: Named after section 529 of the United States Internal Revenue Code, a 529 plan is a tax-advantaged savings plan designed to encourage saving for future college costs. 529 plans, legally known as “qualified tuition plans,” are sponsored by states, state agencies, or educational institutions.
- US Series EE Savings Bonds: US Savings Bonds are another investment option that could be used to help you save for college expenses. Interest earnings on certain US savings bonds are completely tax free if you use the money to pay your child’s qualified higher education expenses. However, there is a ceiling on the amount of income your family can be earning at the time you cash in the bonds to qualify for the tax break. There are also other restrictions on purchase and ownership.
Click here to view additional information about Educational Planning.