Tax Cuts for Higher Education
Legislation was signed into law on August 5, 1997 to offer tax credits and
incentives for parents to save for their children's educational expenses.
Savings incentives for parents of younger children include:
Education Savings Account (Coverdell Accounts)
For each child under 18, the families may deposit $2,000 per year into an education
IRA. Earnings would accumulate tax-free with no taxes due upon withdrawal for
net post-secondary expenses for tuition, fees, books, equipment and room and
board.
IRA Withdrawals
Taxpayers may withdraw funds from an IRA without penalty for the higher education
expenses of the taxpayer's spouse, child or grandchild. The amount that can
be withdrawn without penalty is limited to net postsecondary expenses for tuition
and fees, books, equipment and room and board.
UNIQUE:
New Hampshire's College Savings Plan ->
Early College Planning
Seminar Presentation
 529
Plan Evaluator - Savings for College
Coverdell
- Saving For College
FAQ's
About Savings Bonds
Quick
EFC - Finaid.org
Savings
Bond Handout
The
American Funds College Cost Calculator
UPromise
Handout
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