Personal - Education Savings

Get started by calling us at 1-866-4UMPQUA or stop by your neighborhood Umpqua store.
For each beneficiary, you open an account with as little as $50. You can contribute up to $2,000 total for each beneficiary in after-tax dollars annually. The earnings on your contributions grow tax-free, and when it comes time to use the funds you’ve saved up, you can do so without having to pay any additional taxes. (There are a few other details. Chat with an Umpqua Associate or your tax advisor for additional info.) Pick from savings or certificate of deposit accounts! An ESA can be used for elementary, secondary and post-secondary "qualified education expenses. These expenses include, tuition, room & board, books, tutoring, uniforms, other school fees, books & supplies, computers and internet access.		You can change the beneficiary of the account. You can also rollover any unused ESA funds, without penalty, to other family members under the age of 30 (or age 38, if they have special needs). Yes, there are a few. Give us a call at 1-866-4UMPQUA or come into your neighborhood store and we can go over them with you. You can open an account for your children, grandchildren, a friend or other family member. There’s only one catch: the beneficiary of the account you set up must use the funds before they turn 30.
Looking for comprehensive retirement or investment strategies? Chat with our investment partners. * * Consult your tax advisor. * Securities, managed investments, insurance products and wealth planning are offered through Umpqua Investments, Inc., Member FINRA/SIPC. Umpqua Investments, Inc. is an affiliated company of Umpqua Bank. Securities, managed investments and insurance products are: • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT BANK GUARANTEED • NOT A DEPOSIT OF ANY BANK • and MAY GO DOWN IN VALUE.

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