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If I buy I bonds for my grandchild, will they be tax free?

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NJ.com

Q. I’m thinking about buying I bonds to help finance my two-year-old grandson’s education. The I bonds would be purchased in his name and Social Security number and held in trust in his mother’s Treasury Direct account until he’s 18 years old. The website has a list of requirements that must be met so the owner of those bonds could exclude the interest accrued if the proceeds are used to fund higher education expenses, one being that the owner of those bonds must be 24 years old or older when the bonds were issued. So would he have to pay tax on the bonds? — Gramps A. Your grandson is lucky to…

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