Q&A: Can I use Savings Bonds for Education that are POD in my name?
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Q&A: Can I use Savings Bonds for Education that are POD in my name?
My father recently passed away and he had ,000 worth of savings bonds that he had purchased back in 1992. I am listed as the POD (Payable on Death) on them. Can I use these for education for myself? I would like to go back to school and it would be great if I could use these tax-free.
The following is the answer:
Answer by SweetRevenge
You can cash a bond in for whatever you want… 
Answer by madwethen
As long as you are listed as the co-owner or beneficiary on the bond you can cash the bonds in and use the funds for whatever you wish. Unfortunately, because you were not the first listed owner of the bond, you may not be able to claim the income tax free for educational purposes. You may want to cash a few in each year or cash in as you need the funds, so that you are not taking a huge hit in your taxes?
Answer by mister ed
yes but you will not use them tax-free — they are taxable for who ever cashes them!!!!
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