Education Savings Account,
Definition of Education Savings Account:
An Education Savings Account (ESA) provides for special tax treatment of money set aside by parents or guardians for the educational purposes of a child. Money put into an ESA may be invested and can earn interest tax-free, and may be withdrawn free of federal taxes, as long as it is used for qualified educational expenses. Be aware, however, that money which is not used for educational purposes prior to the childs 30th birthday may be subject to steep penalties.
Meaning of Education Savings Account & Education Savings Account Definition
