Using Savings Bonds Tax-Free for Education

An EE Savings Bond owner or co-owner may be able to exclude from income for Federal income tax purposes all or part of the earnings received on the redemption of qualified Savings Bonds (including Series EE Savings Bonds) during the year, if that owner or co-owner paid qualified higher education expenses during the same year and certain other conditions are satisfied. This exclusion is known as the Education Savings Bond Program.