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Ask Dave

Can His Kid Have An ESA?

With the child's social security number, Brian can open an ESA (educational savings account) for another's kid.

QUESTION: Brian asks if you can start an educational savings account for other people’s kids.

ANSWER: As long as the child as a Social Security number, you can start an educational savings account for any child, anywhere. You cannot put more than $2,000 per year, however.