You can only use the savings bond to pay the educational expenses of your dependents, your spouse or yourself. Cash in the savings bond at your local financial institution, in the same way you would cash a check, by signing the bond.|
You do not need to put it into a 529 or other education savings plan.
If you meet the age and income requirements, interest on your I and EE savings bonds that were issued after 1989,s tax-free if you cash in the bonds to pay tuition and fees.
