Education saving account used to be very popular as it was tax-free interest. However, it is facing dilemma now and almost withdraw from the banking sector due the abolition of tax-free interest and challenges of high yield wealth management products. ANBOUND think tank scholars pointed that although wealth management products have the advantage of high interest rate compared to saving however it will not continue for a long time. The education saving account will regain its advantage once the ceiling of deposit rate is further released in the future. China should be more lenient towards the limit of education saving account. In-line with the improvement of fiscal and taxation laws in the future, China can consider introducing education accounts cum low-risk financial products investment to encourage young people to provide more opportunities to their next generation.