An investment in education.

There’s no greater tool in life than an education. The flexibility of a Coverdale Education Savings Account (ESA)1 makes it easy to start saving today. ESAs are designed to meet your needs as you provide the funds for a promising education. Comerica CD-ESAs provide investment alternatives with flexible terms, competitive rates and customized CD deposit options.


ESA features:


Your advantage1,2,3

  • Tax benefits combined with educational savings 
  • Any child under 18 can be designated as a beneficiary 
  • Tax-free distributions for qualified education expenses including elementary, secondary, and post-secondary tuition and vocational schooling 
  • Hope and lifetime learning credits can be claimed in the same year as a tax-free distribution, if they are not used to fund the same expenses.

Your earnings1,2,3

  • Accumulate tax free 
  • Are not taxed upon withdrawal from the account if they are used for qualifying educational expenses before the beneficiary’s 30th birthday

Your contributions1,2,3

  • Will earn interest at competitively priced rates
  • Can be rolled over or transferred to another ESA to benefit another qualified family member
  • Are not tax deductible 
  • Annual limits may be adjusted by IRS for AGI and cost of living
  • Can be made to multiple accounts for multiple beneficiaries as long as the total contributions to all accounts on behalf of a beneficiary in any year does not exceed $2000.
  • Are FDIC insured up to the maximum allowed by law

Your distributions1,2,3

  •  Are tax free as long as they are used for qualified education expenses  
  • Can be used for qualified expenses, including:  tuition, room and board, fees, supplies, books, educational computer technology or equipment, uniforms, tutoring, special needs services, and internet access
  • Are mandatory (and could be taxed) following the beneficiary’s 30th birthday



1 Investing in a Coverdell Education Savings Account (ESA) does not guarantee that college costs will be met. Contributing to an ESA does not impact your eligibility to contribute to a Traditional, Roth, SEP or SIMPLE IRA.

2 Comerica Bank and its affiliates do not provide tax or legal advice. Please consult with your tax and legal advisors regarding your specific situation

3 Additional detail can be found in the Master Terms of Coverdell Education Savings Custodial Accounts