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Tuesday, September 8, 2009 A Record $500 Million Reached in Free College Savings Through Upromise by Sallie Mae Upromise Shares Tips on How to Save Money for College
NEWTON, Mass., September 08, 2009 -
Simply by spending smart, members of Upromise, Sallie Mae’s saving for
college program, have earned a record $500 million in college savings.
Upromise helps its members take control of rising college costs with the
ability to earn money through eligible everyday purchases with Upromise
partners. Savings can be used for past, present or future college costs,
depending on an individual’s needs.
“Students and their families are often unsure of the cost of college and
how to pay for it,” said David Rochon, president of Upromise. “Upromise
helps them start planning and saving for college with tools, resources
and the ability to receive money back in a college savings account when
shopping smartly. Half a billion dollars earned through Upromise
represents tuition and fees for 76,000 students to attend a public
university and a tremendous start.”
A national study from Sallie Mae and Gallup found that the U.S. economic
crisis has caused almost half of parents with college-bound children to
decrease the amount they are saving or not to save at all. Upromise by
Sallie Mae makes it easy for families to pursue a college savings goal.
Savings are accumulated when members shop at Upromise partners and
purchase everyday needs such as gas and groceries, shop online at nearly
650 retailers, book travel, dine out and even buy a home or sign up for
auto insurance. Every time members make eligible purchases, they earn
back a percentage of what is spent with Upromise partners.
Some of the fastest ways Upromise members can boost their college
savings far beyond the $500 million earned to date are:
About Sallie Mae
SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, is the
nation’s leading provider of saving, planning and paying for education
programs. Through its subsidiaries, the company manages $188 billion in
education loans and serves 10 million student and parent customers.
Through its Upromise affiliates, the company also manages more than $17
billion in 529 college-savings plans, and is a major, private source of
college funding contributions in America with 11 million members and
nearly $500 million in member rewards. Sallie Mae and its subsidiaries
offer debt management services as well as business and technical
products to a range of business clients, including higher education
institutions, student loan guarantors and state and federal agencies.
More information is available at www.SallieMae.com.
SLM Corporation and its subsidiaries are not sponsored by or agencies of
the United States of America.
About Upromise by Sallie Mae
Launched in April 2001, today Upromise by Sallie Mae is a major, private
source of college funding contributions in America, with over 11 million
members and $500 million in member rewards. Membership is free and can
help families save money for college while making everyday purchases of
products and services at more than 21,000 grocery and drug stores,
10,000 gas stations, 8,500 restaurants, as well as hundreds of retail
store locations, and over 650 online shopping sites. Upromise
participating companies include Bank of America, ExxonMobil Corporation,
Bed Bath & Beyond®, McDonald’s®, JCPenney.com, LandsEnd.com, Sears.com
and hundreds of others. Upromise also makes it easy for families to
start their own college savings strategy through tax-advantaged 529
college savings plans offered through Upromise Investments, Inc. or by
using Upromise contributions to help pay down eligible student loans.
For additional information, visit upromise.com.
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