During the early 90's my parents bought me about fifty EE bonds ranging from 500-1000 dollar values. I never used them because I using money that I saved in high school and worked a lot in college in order to pay for school. I was planning on starting to cash them out when they no longer accrue interest at 30 years of age.

My wife still has a few thousand dollars of student loans to pay off and I was wondering if I could cash in my EE bonds to pay off her student loans and not pay income tax on the interest the bonds had earned.