Coverdell ESAs now share advantageous financial aid treatment
Department officials apparently have not picked up on the fact that ESAs do not have "owners." A financial institution acts as trustee or custodian, while the parent is usually the "responsible individual." The usual conclusion in this situation would be to treat the ESA as the beneficiary's (i.e. student's) asset. Regardless, the ruling is good news for many families using ESAs.