The cost of a four-year private college education is expected to nearly triple over the next 18 years, according to reports. To inspire families to make a commitment to save for college, Upromise by Sallie Mae today launched the “ Make the Pledge, Keep the Promise” Sweepstakes, offering a chance to win a $150,000 full ride to college.
With a financial advisor in the family, Alicia G. is one step ahead of many parents when it comes to paying for college. Her husband’s college-saving advice includes Upromise, a program which is free to join and members can receive cash for college from everyday purchases. Alicia joined Upromise in 2004, and she and her husband are SuperSavers who have earned more than $15,000 for their children’s future college education*. She recommends families start saving as early as they can and supplement their savings with Upromise. “Before I buy or do anything, I always go to Upromise.com to find participating companies to receive cash for college. Our kids are just nine and 11 right now, but by the time they get to college, the first year will be paid for with the help of Upromise,” Alicia adds.
Since 2001, Upromise members have received more than $700 million in cash for college. Now through Nov. 13, 2012, consumers are encouraged to pledge to save for college and join the millions of Upromise members marching towards a $1 billion savings goal.
In addition to the chance to win a full ride to college as an incentive to start saving, each week for eight weeks Upromise will give away $500 gift cards to major online partners such as Travelocity, Macy’s and Walmart.“As the cost of education continues to climb, it’s more important than ever for families to start planning ahead and saving for college,” said John Ward, senior vice president, Sallie Mae. “We want to educate and inspire all parents to start saving for college, and we are making it easy to start by earning cash back on their everyday purchases.”