The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

From Head to Toe and Highlighters through Tablets, Upromise by Sallie Mae Can Help Families Earn 5 Percent or More on Back-to-School Necessities

<p class='bwalignc'> <i><b>Increased Cash Back for College Helps Families Earn More When They Need to Spend</b></i> </p>

Tuesday, July 10, 2012

From Head to Toe and Highlighters through Tablets, Upromise by Sallie Mae Can Help Families Earn 5 Percent or More on Back-to-School Necessities10:41 EDT Tuesday, July 10, 2012 NEWARK, Del. (Business Wire) -- Fromsneakers, backpacks, pens and pencils to clothing and computers, stocking up for school costs families around $600 a year, according to the National Retail Federation. New this year, with Upromise by Sallie Mae you can earn 5 percent or more cash back for education on eligible purchases at hundreds of major online retailers through Upromise.com. Families who choose the new Upromise World Mastercard as their payment method of choice can save double—for a total of 10 percent or more cash back on those online purchases. “Shopping for the new school year for my teenage daughters adds up fast, so I make this spending count towards their future by always checking Upromise first for savings,” said Amy W., from Danbury, Conn., who has saved nearly $10,000 through Upromise since joining in 2001*. “We frequently talk to our daughters about the importance of a college education and Upromise helps us prepare by bolstering our savings.” By starting at Upromise.com, members making eligible online purchases can earn rewards of 5 percent or more on eligible purchases at major online retailers such as Target.com, Sears.com, Kohls.com, Staples.com and OldNavy.com. Members can also earn cash for college with Upromise by Sallie Mae by dining out, booking travel, buying gas, shopping with the Upromise credit card and purchasing other services. “A college degree leads to higher earnings and employability but saving for the rising costs is a challenge. Every cent saved helps inspire more savings and buying online saves time as well as money,” said John Ward, senior vice president, Sallie Mae, the nation's No. 1 financial services company specializing in education. “When my daughter headed to college as a freshman, we purchased dorm necessities through Upromise.com and picked them up in-store near her campus and in the process earned money that helped defray back-to-school costs.” Upromise members can use their earnings in one of four ways: transfer into 529 college savings plans administered by Upromise Investments, pay down an eligible Sallie Mae-serviced student loan, deposit into an FDIC-insured Sallie Mae High-Yield Savings Account offered through Sallie Mae Bank, or request a check. Learn more or join for free at Upromise.com. Join the conversation on how to save, plan and pay for college at Facebook.com/SallieMae and Facebook.com/Upromise. *Amy W. is an active Upromise member. Individual savings vary depending on spending habits and level of engagement in Upromise. Sallie Mae (NASDAQ: SLM) is the nation's No. 1 financial services company specializing in education. Whether college is a long way off or just around the corner, Sallie Mae turns education dreams into reality for its 25 million customers. With products and services that include college savings programs, scholarship search tools, education loans, insurance, and online banking, Sallie Mae offers solutions that help families save, plan, and pay for college. Sallie Mae also provides financial services to hundreds of college campuses as well as to federal and state governments. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America. Sallie MaeMedia:Debby Hohler, (617) 454-6741dhohler@upromise.com