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(Graphic: Business Wire)

Pursuing his bachelor’s degree and an M.B.A. just became much easier for Adam Schweickert and his family, thanks to Sallie Mae’s Upromise. As the grand prize winner of Upromise by Sallie Mae’s “Make the Pledge, Keep the Promise” Sweepstakes, the 20-year-old junior at the University of Iowa and Peru, Ill., resident won $150,000 by making a pledge to save for his education.

“I was speechless when I learned Upromise by Sallie Mae will pay for my education and that paying for college is no longer a concern for my family,” says Schweickert. “Paying for college has been challenging, and now we can pay back money my parents borrowed for my education, plus cover the remainder of my college expenses including an M.B.A.”

Schweickert, the oldest of two children in his family, started his higher education at a local community college, regularly made the honor roll and transferred to the University of Iowa to pursue a degree in finance. To cover costs, his family used a combination of income, saving and borrowed money.

“Our contest inspired thousands of students and families to make a commitment to save for college,” said John Ward, senior vice president, Sallie Mae. “Sallie Mae’s Upromise college savings program serves as a continual reminder that there are tools and resources to help every American save little by little each and every day to help them pursue their educational dreams. Upromise rewards sound too good to be true, but clearly for Adam and the millions of others who have earned more than $725 million in savings for college, that is not the case.”

Whether saving for your child's college education, paying for a child now in school, or repaying student loans, Upromise by Sallie Mae enables American families to earn cash back for college through everyday purchases. Free to join, members can earn cash for college by shopping online at hundreds of major retailers, dining out, buying gas or using the Upromise credit card.

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