Educational Savings Accounts

Educational Savings Accounts (ESAs) are flexible savings accounts designed to help families save for education expenses. They allow money to grow tax-free when used for qualified educational costs such as tuition, supplies, or tutoring. Contributions are made with after-tax dollars, and the funds can be invested for potential growth. ESAs provide an alternative to traditional savings plans, offering more investment options and financial aid flexibility. They help make education more affordable by encouraging early, dedicated saving to cover future learning expenses.