<p>Do we have to report to the school of scholarships given in savings bonds? (since it'll be YEARS before we can actually even touch the money)</p>
<p>Yes you do. Also, US savings bonds can be turned in for cash anytime after one year from issuance.</p>
<p>i called my school and was told i don't need to, besides i DO have to wait a few years to cash it in since it won't reach its maturity value by next year</p>
<p>^I thought they could be cashed, but you'd have to forfeit the interest? <em>confused</em></p>
<p>i thought the buyer of the bond gets to buy (for example) a bond worth $700 at $600, but must wait so and so years to cash it since it takes time for it to mature to 700. i think u can cash it, but not at its full value</p>