Determine the worth of your bonds. A 20-year bond will mature after 20 years and may be cashed in for the full value at that time. Bonds also may be cashed in before they mature, in which case the value will be calculated by a banker. Values may also be determined online at treasurydirect.gov.
Collect your bonds and visit your bank. Bonds must be at least a year old and your account at least six months old.
If bonds are in your name, show proper identification, such as a driver's license. If you are not a current customer of the bank, you may need additional identification, like a social security card or birth certificate, and you may only be able to cash $1000 in bonds at once. You may also redeem bonds of which you are a co-owner.
Bonds may also be cashed using the Department of Treasury's website, treasurydirect.gov. Using the site, you may buy, check the status of and cash in your bonds.
Store your redeemed funds in your bank account or credit union sponsored by your chosen college. You may also have the bank write a cashier's check directly to your college's registrar or financial aid office. If you plan to take advantage of financial aid offered by your institution, inform your representative of available bond funds.