Upromise by Sallie Mae members earn $600 million in college savings–the equivalent of a college education for 20,000 students
Spending today can mean savings for your future
NEWTON, Mass. - Saving money can be easier than you think. In fact, Upromise by Sallie Mae members have saved over $600 million in cash for college from their everyday spending. Based on the average cost of tuition and fees at a public university as reported by the College Board, this covers a four-year college education for 20,000 students.
“I just paid my son’s last tuition payment with the rewards I’ve saved using Upromise,” according to Linda Murphy of Massachusetts who has actively participated in Upromise since 2002. “My savings accumulated to $9,000 primarily from shopping online at participating companies and using the Upromise Credit Card.*”
* Cash is King. Upromise is free to join and members earn cash savings of 1-25 percent at thousands of participating merchants when they shop online, book travel, dine out at local restaurants or buy gas or groceries.
* Check it out before you check out. Before making a purchase, large or small, search Upromise.com for possible savings. Savings range from a few cents when you buy gas at Exxon or Mobile to hundreds when you buy or sell a home from a participating Century 21, Coldwell Banker or ERA office.
* Make credit cards count. If a credit card is your payment method of choice, the Upromise World MasterCard® credit card from Bank of America now gives you an additional 2 percent back on eligible online purchases at more than 700 participating online retailers that can be directed towards education expenses. This is in addition to the 1-25 percent members earn from online retailers by shopping at Upromise.com and on top of the 1 percent that cardholders earn for all other purchases made with the Upromise credit card. When using credit cards, always stick to your spending plan.
* Get by with a little help from your family and friends. Grandparents, aunts, uncles and friends can direct their shopping rewards to you or contribute directly to your existing 529 college savings plan account.
* Buy online and look for coupons and free shipping offers. Coupon use is on the rise as more consumers click or clip to save. Thousands of coupon codes and free shipping offers are featured at Upromise.com so you don’t have to hunt or miss valuable savings.
* It’s your money. There are four ways to use your cash rewards. Invest in a Upromise Investments administered tax-advantaged 529 college savings plans (subject to meeting certain requirements). Let it grow it in a Sallie Mae high-yield savings account with one of the best interest rates in the nation and you may qualify for even more Upromise savings with a 10 percent match. Link your account to a Sallie Mae student loan and set up automatic transfers to help pay your loan. Or, get a check and use it right away for expenses such as college tuition or books.
* Learn and Exchange Savings Tips. Connect with like-minded people online to learn from others or share savings tips in Upromise’s Community, on Facebook or by following Upromise on Twitter.
Sallie Mae (NYSE: SLM) is the nation’s No. 1 financial services company specializing in education. Serving 23 million customers, Sallie Mae offers innovative savings tools, tuition payment plans and education loans that promote responsible financial habits and reward success. The company manages or services $235 billion in education loans and administers $35 billion in 529 college savings plans. Members of its Upromise college savings rewards program have earned $600 million to help pay for college. Sallie Mae is also one of the leading financial service providers for universities and governments at all levels. More information is available at www.SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
*This is an active Upromise member. Individual savings vary depending on spending habits and level of engagement in Upromise. [Includes savings with Upromise online partners and the Upromise Credit Card.]
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