COVERDELL ESA is an IRA option. Contribution of up to $2,000 can be made by a child under the age of 18, anyone filing a Single Tax Return with MAGI up to $95,000 or married couples filing a Joint Tax Return with MAGI up to $190,000. Those with higher MAGI may be able to make smaller contributions. It is Tax Free Withdrawals for certain qualified education expenses. Funds can be withdrawn and rolled over into another Coverdell Education Savings Account of another family member under age 30. All funds must be used by the time the child (beneficiary) reaches age 30.