<p>Coming out of lurkdom to ask a question!</p>
<p>We're filling out the FAFSA for the first time. First child of three to go off to college in the fall. </p>
<p>She has several savings bonds that have not matured. If they are not matured, be prefer not to use them for college expenses. Do we have to report these that are not matured??? They are the EE series.</p>
<p>Thanks much for any advice you can provide...!</p>
<p>I think you do. We have some also that I did not even think of including as they do not mature for decades but there was another thread on this a few days ago that reminded me of them. Someone posted a link to where you can find the current value</p>
<p><a href="http://www.treasurydirect.gov/BC/SBCPrice%5B/url%5D">http://www.treasurydirect.gov/BC/SBCPrice</a></p>
<p>Yep, I was on that site last night - I can't believe how long some of these take to mature!!! Doesn't seem right to me that you should have to cash these in before they were intended to be (intended as a gift to be used when mature) - any other thoughts??</p>
<p>And swim, thanks for the quick response!</p>
<p>There are two other threads here on this topic-- do a search for details.</p>
<p>Bottom line-- figure their current value using the Savngs Bond Wizard (handy tool that's a free download from the govt-- also tells you when they mature, what interest rate, etc). Figure out who it the owner. This is key-- if the student is the owner, it will hurt you. If you can be listed as the owner, it won't hurt nearly as much, and may not hurt you at all (if total parental assets are below the parental asset allowance). If already in the student's name, see if you can legally get them into a non-reportable vehicle (perhaps a 529), or spend them down on necessary student expenses before completing FAFSA. If you can't, spend them the first year of college so they don't continue to hurt you every year.</p>
<p>Advice for the future kids: Put savings bonds in parent's name, or save in a sheltered savings vehicle.</p>
<p>If we cash them just the part that is interest earned is considered income for FAFSA right?</p>
<p>The certificates have her name AND mine on it - does that help at all???</p>
<p>See the other thread re: ownership for financial aid purposes. If both names are on the cert, it's a student asset for financial aid purposes.</p>
<p>Not sure about the income issue upon redemption--</p>