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Education Savings Plans

Save for education with tax-advantaged 529 plans and Coverdell ESAs. Invest in your child's future with flexible options and potential state tax benefits.

Tax-free growth and withdrawals for qualified education expenses.

529 Plan Overview

Tax treatmentTax-free growth

Contribution limit (2026)Up to $18,000/year gift tax free

Qualified expensesTuition, room, books, K-12

Account fee$0

State tax deductionVaries by state

Two ways to save for education

Choose the plan that fits your education savings goals.

529 Plan
College & K-12 savings
Tax-free growth and withdrawals for qualified education expenses. High contribution limits. Can be used for college, K-12 tuition, student loans, and apprenticeships.

Coverdell ESA
Flexible education account
Tax-free growth for K-12 and higher education. $2,000 annual contribution limit. More investment flexibility than 529 plans. Income limits apply.

Benefits of education savings

Tax-Free Growth

Earnings grow tax-free. Qualified withdrawals are also tax-free at the federal level.

State Tax Benefits

Many states offer tax deductions or credits for 529 plan contributions.

Gift From Family

Anyone can contribute — parents, grandparents, family, and friends.

Broad Qualified Expenses

Use for tuition, room and board, books, computers, and up to $10K/year K-12 tuition.

Age-Based Portfolios

Choose an age-based option that automatically adjusts allocation as your child grows.

Roth IRA Rollover

Starting 2024, unused 529 funds can be rolled into a Roth IRA (limits apply).

How to get started

Choose your plan

Select a 529 plan or Coverdell ESA based on your needs.

Pick investments

Choose age-based, target, or individual fund options.

Set up contributions

Automate monthly contributions to build savings steadily.

$0 Commission

Online stock & ETF trades

Expert Advisors

Licensed financial advisors

Powerful Platform

Research, tools & mobile app

SIPC Protected

Securities insured up to $500K

Common questions

What's the difference between a 529 and a Coverdell ESA?

Can I use 529 funds for K-12 tuition?

What happens if my child doesn't go to college?

Can I change the beneficiary?

Is there a contribution limit?

Investment and insurance products: Not FDIC Insured · No Bank Guarantee · May Lose Value. Meridian Wealth Management is a division of Meridian Bank, N.A. Securities offered through Meridian Securities LLC, member FINRA/SIPC. Insurance products offered through Meridian Insurance Agency.