As we are all so accustomed to, our web browsing and internet capabilities have become an everyday part of our lives. We get online all the time and many of us shop. WE shop a lot online. Many community organizations and churches all over the country participate in programs that allow shoppers to buy items and products from community businesses and organizations. In return they receive a discount percentage and that percentage is donated.
Well, what if you could do the same thing, but those percentages are contributed toward a bank account in your name to pay for college? Everyday purchases allow you to create, build and grow a savings account. Earning savings for college can be as easy as pulling out your credit card and making a purchase nowadays…literally.
It’s true! There is a program that seems very legit. I checked it out and like what they have to offer. In fact I read a couple other reputable articles written about Upromise, an organization set up online that allows you to make purchases online and save the money through percentage discounts…toward a savings plan for college!
By signing up for Upromise and shopping with its partners, you can get up to 25 percent back on the purchases you make. Even better, the college savings you earn are tax-free!
Sounds crazy, right? But don’t worry, Upromise is completely legitimate—in fact, it’s the brainchild of the people at Sallie Mae (which runs federal student loan programs, among other things).
So, how does it earn you savings for college…
First, you have to create an account. That involves giving them some basic information, including which debit/credit cards you want to use to earn college savings. After your registration is complete, there are three super easy ways you can start getting savings for college:
- Use the Upromise portal to shop online at any of their 800 partner sites
- Download eCoupons onto your shopper cards and use them when you shop at your local supermarkets and drugstores
- Register as a Preferred Diner and eat at participating restaurants
What could be better…
Well you can invite your friends and family to be part of your Upromise account, too. When they do, you’ll earn additional college savings every time they shop!
Keeping track of your college savings…
Wondering where all those savings for college go? The answer is anywhere you want them to. Upromise gives you four ways to use the college savings you earn:
1. Have your college savings deposited in a 529 college savings account
2. Have your savings for college deposited in a high-yield savings account
3. Use your savings to pay down a student loan
4. Receive your college savings directly in the form of a monthly check
Cashing in on the savings for college you earn with Upromise…
The college savings in your Upromise account can be used for whomever you designate as the beneficiary – your children, a friend or family member, or even yourself! It also never expires, so whether you’re saving for a two-year-old or a fifteen-year-old, the money will be there when you need it.
You can also use it however you see fit – for tuition, books, even room and board!
So if you could use some easy savings for college, open a Upromise account. You’ve got nothing to lose – and a whole lot of college savings to gain.
There are other ways in which you should plan for college expenses and paying for them/ The first and most popular would be to file financial aid and consider the process and time it takes for you to hear anything.
Another method of financial preparation is your search for scholarships. There are so many available out there you may not realize just how much you can win…for free!!
Your Success is My Success,
Please post any suggestions, comments or questions you might have. Tweet me or friend me on FB!
Keith Lipke is a careers and college recruiter, coach, mentor and blogger at The Career Closet. His passion is to educate, inspire, and give hope to young people who need it upon their search for the right career and college.
- UPromise- Groupon (londonsnobonabudget.wordpress.com)
- SavingStar Brings Coupon-Clipping Into Digital Age (blogs.wsj.com)
- Mobile apps try to turn spenders into savers (usatoday.com)