Can I roll over education savings from a Coverdell IRA or my 529 accounts into a Rocket Dollar account?

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No. The 529 and Coverdell College Savings accounts are funds that are only for qualified education expenses.

A 529 is a tax-advantaged savings account. The dollars are intended for education expenses, and typically can't be rolled over to an IRA. Someone in your family can use the dollars for education expenses, such as you or your spouse taking a part-time night class, or you can use the funds for another child by changing the beneficiary.


Does the same apply to Coverdell IRAs? (aka education IRAs)

Yes, if the Coverdell IRA’s money is not used for education expenses, it must be distributed. Or, you can roll it over to a family member to use for qualified education expenses.

See our IRA account

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