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US Savings Bonds

By Terry Savage on May 28, 2022 | College Savings / Student Loans

Is there anyway to use my US Savings Bonds that will mature in 2024 for my grandchildren education and is there any tax advantage for me to do it?

Terry Says

Only parents — and below a certain income level — can cash savings bonds and avoid paying income taxes on the gains if they are used for a child’s college education.
But you can cash them in, pay the taxes, and then pay tuition directly to a college or university. And if they are not yet in college, you could use the after-tax money to open a 529 College Savings plan for them.

Read this: https://www.terrysavage.com/best-gift-529-college-savings-plan/

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