Quick Tips | Savings Bonds
Feb 15, 2023
Facts | Housing programs count any bonds that households possess as assets, including savings bonds. These are purchased for a set amount (for instance half the face value for EE bonds) and then accumulate value at an interest rate specific to the bond. These interest rates are reevaluated every six months.
Implication | An owner must know what the current balance and interest rates are for each bond. From this, the interest income can be calculated.
Resource | What is the current balance and interest rate applicable to a household's bonds? Visit the Treasury Direct website page HERE. Helpful hint: the bond inventory can be saved and used at recertification time for housing programs that require income recertification.
Bonus: for a quick tutorial on determining the value of bonds, see the below information.
There is a very good chance that the topic of this post is covered in an online on-demand course at Costello University.
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