To continue enjoying all the features of Navy Federal Online, please use a compatible browser. You can confirm your browser capability here.

Great Ways to Save for Education

Whether you’re saving for primary, secondary or higher education, our Navy Federal Coverdell Education Savings Accounts (ESA) and Education Money Market Savings Accounts (MMSA) provide excellent tax-free savings opportunities for members to pursue their education goals.

Explore Our Accounts

Education Savings Account (ESA)

Whether you’ve already been on a long-term savings journey, or are just getting started, an ESA will help you grow your education savings tax-free.

Features:

  • Add money anytime1
  • Access funds when you need them
  • Earn tax-free if used for qualified education expenses

APY2

as high as

0.25%

Term

None

Minimum Deposit

as low as

$0

Education Money Market Savings Account

With an ESA Money Market Savings Account (MMSA), you can start with a $0 minimum balance— once you've reached a balance of $2,500 you'll start earning higher dividends.

Features:

  • Access funds when you need them
  • Enjoy high dividend rates
  • Earn tax-free if used for qualified education expenses
  • Add money anytime1

APY2

as high as

0.45%

Term

None

Minimum Deposit3

as low as

$0

Minimum Deposit APY
$0 to $2,499 0.00%
$2,500 to $9,999 0.40%
$10,000 to $24,999 0.45%
$25,000 to $49,999 0.45%
$50,000 and over 0.45%


A $2,500 minimum balance must be maintained to earn dividends.

Education Savings Accounts

All of Navy Federal’s education savings plan are Coverdell ESAs. Learn more about these accounts and how they compare to 529 Plans.

Learn More about Coverdell ESAs and 529 Plans.

Want More Information About Saving?

Visit our Savings Learning Center for tips, tools and other resources.

Learn More at the Savings Learning Center

Savings Resources

View MoreSavings Resources

Disclosures

1

Contributions can be made up to the maximum annual deposit amount of $2,000 per child per year.

2

Rates on variable accounts (e.g., Share Savings, Checking, MMSA) may change after the account is open. This APY is accurate as of 09/24/2021. Fees may reduce earnings.

3

A $2,500 minimum balance must be maintained to earn dividends.