College costs seem to go up and up and up. We have 3 kids who will be in college someday (we hope and pray at least) and the thought of the costs is almost staggering. Sure, we expect our children to pay for some of their education by themselves, but we also want to be able to help them out.
I had actually heard about UPromise, but never really researched it much. It seemed that it was just using your credit card that earned you money in an account. And since we don’t own any credit cards, we figured we were excluded from being able to take advantage of the program. Well – that is NOT the case! You can even register your debit card and start to earn. But wait, let me back up a bit and go back to the beginning.
What is UPromise? It is simple, it is a way for you to earn a % of what you spend to use towards college. You simply register your credit, debit or grocery card through UPromise. Then, when you make purchases at select retailers, restaurants or even on-line stores and use that card, you can earn a % of your purchase back into your own UPromise account. You can then use that money towards college expenses, deposit the funds into your 529 plan or even pay down a student loan.
Before you register, you will want to be sure to read more about the program. If you decide that this is something that works for you, go ahead and get signed up and start building a college savings account for your child(ren) or even your grandchild(ren).