Coverdell Education Savings Accounts explained by Your West Bloomfield College Money Coach

(EMAILWIRE.COM, August 18, 2010 ) West Bloomfield, MI Â– Coverdell Education Savings Accounts, also referred to as Coverdell Education Accounts, Coverdell Savings Accounts, Coverdell ESA or simply an ESA, were formally known as Education IRAs.

There are income tax advantages to opening and contributing to a Coverdell Education Savings Account. Coverdell ESAs allow tax deferred growth and tax-free withdrawals for qualified education expenses.

There can also be disadvantages to this type of college savings plan. Some people do not meet certain criteria or eligibility requirements for a Coverdell Education Savings Account. They could easily find themselves owing penalties at the end of the income tax year.

For the average consumer, learning about these and other college savings programs can be daunting. There are many ways to invest in a childÂ’s college tuition and education expenses, but what if you could substantially reduce or even eliminate college costs?

Jeffrey Taylor is a certified college planning specialist and Metro DetroitÂ’s favorite resource for parents and grandparents who are looking to invest in a childÂ’s future college education. Jeffrey has helped thousands of people tap into college funding resources that few consumers are even aware of.

The typical cost of a college education averages about $250,000 per student. People who are frustrated at the rising cost of college tuition, confused by online research results that do not provide relevant and specific solutions, and feeling powerless because they donÂ’t know what do, have learned from Jeffrey Taylor, the College Money Coach, that there is a better way. Visit http://www.coverdellsavingsaccount.com to learn more.

Contact:

Jeffrey Taylor
Certified College Planning Specialist
College Funding Resources
20700 Civic Center Dr; Ste. 170
Southfield, MI 48076
Local: 248-230-9558
Toll free: 800-358-7563
help@thecollegemoneycoach.com

Read more about the Coverdell Education Savings Account at http://www.coverdellsavingsaccount.com/2010/08/coverdell-savings-account-advice-from.html

This press released was distributed by Right Now Marketing Group, LLC

College Funding Resources
Jeffrey Taylor
800-358-7563
yourmoneycoach@gmail.com