Per IRS Publication 970, the US Savings Bonds must used at an eligible education institution. The IRS defines an eligible education institution as any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U.S. Department of Education. It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. You should be aware that certain educational institutions located outside the United States also participate in the U.S. Department of Education's Federal Student Aid (FSA) programs. Therefore, the educational institution does NOT have to be located in the United Stated but must participate in the Federal Student Aid programs. The educational institution should be able to tell you if it is an eligible educational institution. In Chapter 9 of IRS Publication 970, you should also be aware that there are Modified Adjusted Gross Income limits for excluding the interest from your income.
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