Saving for College Costs While Your Student is in College

I partnered with Upromise MasterCard® in exchange for sharing my honest opinion and this information.

I went to a four year college and I remember struggling with my bills. From paying my tuition to eating out to just being able to afford a few luxuries, college life was tough. Luckily though I was always thinking about my future. I didn’t want to graduate college with a mountain of debt so I watched my spending the best I could and I did odd jobs online to make money. I took surveys and sold stuff I no longer needed online mostly.  I also signed up for reward programs so I can earn a little something while I was spending. I wasn’t alone either using a rewards card.

When it comes to credit cards, many college students are influenced by their parents. According to the new study from Sallie Mae and Ipsos, “Majoring in Money: How American College Students Manage Their Finances” 68 percent of college students choose a card based on what their parents say or have.

Back when I was in college Upromise by Sallie Mae was one of the first reward programs I joined. Upromise by Sallie Mae is a program that allows members parents to save money for college or pay down an existing student loan. They are a company that knows the importance of hitting college savings goals as fast as possible.

The Upromise MasterCard® is a great way to help individuals reach their savings goals by earning cash back on the purchases they make every day.

What makes the Upromise MasterCard® perfect for parents with future or current college students or even those with preexisting student loans?

• When a Upromise MasterCard is opened, the cardmember is automatically enrolled in Upromise by Sallie Mae – so no excuses for putting off signing up for the rewards program.

• Up to 10 percent cash back for college can be earned with the Upromise MasterCard® via shopping online or dining with Upromise partners.

• Parents can easily contribute their cash back into a savings account or help pay down an exisiting eligible student loan.

• Students and parents can shop Upromise online retail partners to buy school-related necessities to not only save some money but also earn some cash back

• Parents can also link their cashback rewards into a Upromise GoalSaver account which is a free online savings account that lets families save towards a specific goal. For example, students can save towards the cost of a semester’s worth of classes or textbooks. Learn more at www.upromisegoalsaver.com.

Last year, Upromise MasterCard® cardmembers earned $42 million in cash back rewards – that is a huge dent in school costs for students. So basically by just shopping, dining and traveling as you normally would, you can earn up to 10 percent cash back. New cardmembers can even earn a one-time special offer of $50 cash-back bonus into their Upromise account after making their first purchase, cash advance transaction or balance transfer within 90 days of opening an account. Oh and did I mention there are no annual fees, no cash back limits and no expirations.