1 Introduction

An Education Savings Account (ESA) is a tax-advantaged savings vehicle designed to help families set aside money for a child’s future education expenses.

Funds contributed to an ESA can grow over time, and withdrawals may be tax-free when used for qualified education costs such as tuition, fees, books, and certain other eligible expenses (depending on the account type and applicable rules). ESA's are typically established and managed by a parent or guardian for a minor beneficiary, providing a structured way to plan and save for education.