3 simple ways to get startedSaving for your child’s future higher education may seem daunting and impossible as college tuition and expenses continue to rise. But, if you follow a few simple steps you can set your college savings plan up for success.
Choose from a Coverdell Education Savings Account, a Blue Bucks Kids' Savings Account or Certificates of Deposit. Each option providing FDIC-insured savings for your child.
If you have any questions, or would like to speak to a Capitol Federal® representative about the best options for you, please contact us.
Open an Account
Open an account at any of our branch locations. Enter your zip code to find a CapFed® branch nearest you.
coverdell education savings account
start saving early and oftenDon’t wait until the first year of high school to begin planning how to pay for college. If you have a set amount you are willing and able to provide for your child, start saving to reach that goal from day one. Start putting savings away as early as possible, even if it’s just a little bit – every dollar will help. You can open a Blue Bucks Kids’ Savings account for your child and make recurring transfers from your CapFed® checking account. This makes your savings strategy easy and automatic.
certificate of deposit for higher returnsOpen a 12-month, variable rate CD, just for kids or use a laddering strategy with a range of short- to long-term CD rate options for a greater, ongoing return. Certificates of Deposit provide the security of FDIC insured savings with locked in, guaranteed rates. CDs can be a good option for long-term savings, like saving for college, because longer terms typically have higher interest rates.
Open a CD Now CD Rates
Tax-deferral can have a dramatic impact on the growth of your savings. See the impact of a Coverdell ESA vs a normal savings account.Calculate
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