A Coverdell Education Savings Account (ESA) (formerly Education IRA) is a great
way for parents, grandparents and others to meet the rising costs of a student's
education. ESAs allow you to contribute a specified amount each year for higher
education. While there is no tax deduction for contributions to an ESA, earnings
grow tax-free . Be sure to consult your financial or tax advisor regarding guidelines
for the Federal and State tax ramifications of your IRA contributions and withdrawals.