Inflation Protection without the RISK

I was contemplating for a while how to save for a kid's education. Then after researching a bit, I-bonds came up as a smart choice. These bonds actually look like a perfect safe investment for education and retirees. Ofcourse, retirees can also look into TIPS. More info can be found on the Treasury Direct page.
http://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds.htm