5.3.2.1. Coverdell Education Savings Accounts
The Coverdell Education Savings Account (CESA or Coverdell ESA) was previously known as the Education IRA. The Coverdell ESA is similar to a 529 college savings plan in that contributions are made with cash in after-tax dollars and all withdrawals can be made tax-free as long as they are used for qualified educational expenses.
Otherwise, a Coverdell has several characteristics that are different from those of a 529 plan
