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.
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.
ESA 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.
ESA Money Market Savings Account Rates
|$0 to $9,999||0.50%|
|$10,000 to $24,999||0.55%|
|$25,000 to $49,999||0.60%||$50,000 and over||0.65%|
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.
College Savings Accounts
Understand the difference in college savings tools with our comparison of ESAs, 529 Plans, Custodial Accounts and Prepaid Tuition.Learn More about College Savings Accounts
College Savings Calculator
Develop or fine-tune your education savings plan with our College Savings Calculator.Learn More about College Savings Calculator
Explore and compare dividend rates of all Navy Federal savings products.Learn More about Savings Rates
1 Additional deposits 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 07/09/2020. Fees may reduce earnings. ↵
3 A $2,500 minimum balance must be maintained to earn dividends. ↵