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Yes, the UGMA acct. would be considered the child's money. And the child can contribute to his own ESA. But an ESA has an annual contribution limit of $2,000 for a beneficiary from all sources. I generally prefer 529 plans.


Thanks, Bill. I generally prefer 529 plans, too, as the account owner maintains control of the account and there is no $2,000 contribution limit. However, 529 plans only fund "tuition, fees, room and board at qualified higher education institutions". My oldest son is 10. I was thinking about an ESA because we may send him to a private school for middle school (and possibly high school). The balance that we have saved for him in a UGMA account could help us pay for private middle school in 1-2 years.
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