Upromise Saving for College
From LoveToKnow College
Upromise saving for college is one way that parents, students and families can reduce the cost of their college expenses, pay back their Sallie Mae loans and facilitate their college education. Love To Know College spoke with Upromise spokeswoman Debby Hohler about the Upromise programs, including scholarships and financial opportunities for students in the 2009-2010 academic year and beyond.
Upromise Saving for College: How Does it Work?
Upromise joins forces with many of America's leading companies to provide members college savings on nearly everything they buy or do. Consumers sign up for free at Upromise.com, register their credit, debit and grocery cards and earn money back on participating purchases. Members can earn up to 25 percent in college savings rewards at more than 600 online retailers, on participating grocery and drugstore items and while dining out at 8,000 national and local restaurants.
Is the scholarship fund in addition to the monies already saved?
Our mission is to make college more accessible. We created the Upromise Scholarship to further help our members attain a college education. And this year, when Americans need help more than ever, we've increased the amount of our scholarship fund to $500,000 -- twice what it was when we introduced it a year ago. We are delighted to be able to help 200 students afford their college dreams with $2,500 scholarships for the 2009-2010 academic year.
How soon should parents enroll in Upromise to have it make a difference in their child's college education fund?
It’s never too early to start saving for college. In fact, some of our members sign up before they even have children. Members can earn hundreds of dollars a year when they take full advantage of Upromise, and family and friends can help contribute to any account. Small steps can add up – we have members that have saved more than $6,000 through Upromise!
Do the benefits dilute the more children a parent has?
The amount of money you can earn through Upromise will not change regardless of how many children you have. Of course, the more children you have, the more important it is to plan for their education, which is even more incentive to sign up for Upromise!
In regards to benefits for future children, should couples save before children?
Yes, and many of our members don’t have children. You can save for any child you know, a future child, or you can use your savings to pay off your student loans. Your rewards can be designated for your own children, grandchildren, nieces, nephews, cousins or simply a close friend.
Does Upromise Benefit Adults Returning to College?
Many people don’t realize that current students and college graduates can benefit. Upromise rewards can help towards college expenses or to pay the principal on a Sallie Mae student loan. Upromise can benefit anyone. You can even request a check and use your rewards as you wish.
Upromise Equals Family Affair
Families considering Upromise saving for college can work together for the benefit of all potential college students, youth and adult alike. The Upromise system lets family members join no matter their geographical distance. Grandparents spending in Oregon can benefit their grandchildren in Minnesota while aunts and uncles in New York can help out their nephews and nieces in Florida. The Upromise system provides a college saving program that supports modern educational opportunities.
Visit the Upromise website for more information about setting up an account and to register debit and credit cards. Check for a list of Upromise affiliated companies for purchasing opportunities that will pay it forward to the next generation.
Check Out Other Financial Opportunities
Learn about other great financial aid opportunities for college such as:
Learn More
This page has been accessed 628 times. This page was last modified 03:02, 24 January 2009.
© 2006-2009 LoveToKnow Corp.
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