Vanguard offers low cost Coverdell Education Savings Accounts (ESAs) for individuals wishing to save for educational expenses. Among the specific features of the Vanguard ESA are the following:
- The minimum investment for an ESA fund is $2,000
- The minimum amount for subsequent investments is $100
- Special Redemption Fee: $25 per fund per account when fund assets are fully redeemed within three years of the initial deposit
- Account Service Fee: $20 per year for each Vanguard fund in which you have a balance under $10,000 in an account. This Fee is waived for Flagship, Voyager Select, and Voyager investors, as well as for investors selecting e-service for the account.
|Note: Vanguard has removed ESAs from their college savings offerings (this includes any new accounts that would be established by an asset transfer). However, Vanguard will continue to maintain and allow contributions to existing ESAs.