When it comes to providing for the kids you care about, every little bit helps. A Coverdell Education Savings Account (CESA) with Thrivent Mutual Funds allows you to save towards qualified educational expenses for a designated minor child, called the beneficiary.
While a parent or guardian must open the account, grandparents and basically anyone else who wants to save towards a child’s education can contribute, as long as their Modified Adjusted Gross Income (MAGI) for the year is less than $110,000 for single tax filers or $220,000 for joint filers.
A Coverdell Education Savings Account can be used towards qualifying K-12 expenses in addition to college costs, which can offer families more flexibility.
1Higher Education Reconciliation Act of 2005