Education Savings Account

Ideal as a supplement to a 529 plan, an education savings account (ESA) helps you pay for education expenses from kindergarten through college, and withdrawals are tax-free when used for eligible expenses.

Overview

What are the fees and commissions?

  • $0 account open or maintenance fees. Other account fees, fund expenses, and brokerage commissions may apply.1 
  • Minimum required to open an account: $0
  • Commissions: $0 per online trade;2 $0 per Schwab ETF online trade in your Schwab account3

What are the benefits of an education savings account?

Every Schwab account comes with investment help and guidance. With this account:

  • Account earnings can grow tax-deferred.
  • Withdrawals are tax-free when used for qualified education expenses.4
  • Contributions can be made to an ESA and a 529 plan for the same beneficiary in the same year.

1. See the Charles Schwab Pricing Guide for details. Employee equity compensation transactions are subject to separate commission schedules.

Account Pricing

  • Minimum opening deposit: $0 
  • $0 account open or maintenance fees. Other account fees, fund expenses, and brokerage commissions may apply.1
  • Online equity trades: Just $0, regardless of your account balance, how many shares you trade2

Review all our account fees and minimums.

1. See the Charles Schwab Pricing Guide for details. Employee equity compensation transactions are subject to separate commission schedules.

Related Questions

Have questions about our Education Savings Account? Here are responses to some of the most common questions we hear. If you have a question about your specific situation that is not answered here, please call us at 866-663-5247.

Application Checklist

It's helpful to have the following information on hand before you begin:

  • Your Social Security number
  • Your driver's license number
  • Your employer's name and address (if applicable)
  • Statement information for funds you may want to transfer