help: general
More General FAQs
How does Upromise help my family save for college?
Every time you purchase an eligible good or service with a Upromise contributing company, a portion of your purchase price will be contributed to your Upromise account. To start saving, simply enroll for free on the Upromise site and begin earning contributions with our contributing companies. You then may choose to link your Upromise account to a tax-advantaged investment account in a Section 529 savings plan. To help you save even more, you can invite family members and friends to also join Upromise and contribute into your account.
What is a Upromise account?
When you join Upromise you automatically open a Upromise Account. Once you have signed up for company programs, your contributions from those companies are automatically deposited to that account. You can also link your Upromise account to one or more qualified 529 Accounts, so that your college savings can be professionally managed and enjoy growth potential.
Can I view my account information online?
Yes, you can view your Upromise account online 24 hours a day, 7 days a week.
Is Upromise free to join?
Yes, Upromise membership is free.
Can I save with Upromise even if I don't have a child?
Yes. You can save for a friend's child, a relative - or even a child you hope to have in the future. You can even save for your own education - regardless of your age. To help a friend or relative's future student save for college, join Upromise and then go to the Family and Friends section of your account. If you hope to have a child one day and would like to start saving now, enter your own name as the student you are saving for - you can update your information in the Future Students section of your account when the child is born.
Who can be a Upromise member?
Any U.S. resident who is of legal age in his or her state of residency can be a Upromise member.
How do I enroll in Upromise?
Any U.S. resident who is legally considered an adult in his or her state of residency can become a member of Upromise.
You can enroll online - it just takes a few minutes. It's easy:
- Sign up by providing some basic information and choosing a username and password;
- Confirm your profile and accept the member agreement;
- Register information like your current credit cards, grocery cards, telephone number, etc-so you can start getting company contributions.
Do I open a Upromise account in my name or my child's name?
Open your Upromise account in your name and then add the student(s) you're saving for in the Profile section of your Upromise account.
What information do I need to provide in order to enroll?
- Basic information like your name, mailing address, phone number and email address
- To start getting college savings from our participating companies, you should also enter your credit or debit card numbers and your grocery cards.
Do I need an email address to enroll in Upromise?
Yes, you will need a valid email address to participate in the Upromise service. If you don't have one, you can go to Yahoo.com or Hotmail.com to get an email address for free.
Why is my home phone number required to enroll?
Upromise needs to be able to contact you if there are any questions regarding your Upromise account. We will not share your telephone number with any contributing company for marketing purposes without your permission.
Do I need to provide my credit card information to begin saving with Upromise?
No, it is not necessary to provide your credit card information - there are savings opportunities you can take advantage of that don't require that information.
However, registering your current credit and debit cards allows us to make sure you get your savings from thousands of retailers and restaurants across the country.
Will I have to give any additional information after I enroll to receive company contributions?
It depends on the company program you are participating in. Some company programs ask that you input information either before or after a purchase. Others, once you have signed up, don't require you to give any additional information to receive contributions. You can modify company programs at any time during your membership. When you do, you may be asked to provide additional information.
What is the difference between a Upromise account and a 529 account?
When you receive contributions from companies as part of your purchases, they are automatically deposited in your Upromise account. You have access to this information 24 hours a day by logging in to your Upromise account. Your Upromise account is a non-interest bearing account. The Upromise Rewards Service is offered by Upromise, Inc., is not a 529 plan and does not offer the federal tax advantages associated with 529 plans. If you are seeking potential market return on your college savings, you may want to consider investing them in a 529 plan.
Can I participate in the Upromise Rewards Service if I already have an account in a 529 college savings plan managed by Upromise Investments?
Yes, you can. If you already have an existing 529 account with an investment firm associated with Upromise Investments simply visit the Manage Investment section of your Upromise account and link your 529 account to your Upromise account.
Do I need special software to participate in Upromise?
No special software is required to participate in Upromise. All you need is an Internet connection and a browser that supports 128-bit encryption and cookies.
How do I close my Upromise account?
To close your Upromise account, please call 1-888-434-9111. Upromise Customer Care is available from 9:00 AM to 9:00 PM EST, Monday through Friday.
What is Upromise's vision?
Upromise was created with one clear mission: to fundamentally alter the affordability of and access to college for America's families. Michael Bronner founded Upromise in an effort to harness the power of private industry and the Internet to help American families realize the increasingly unreachable goal of a higher education. Upromise is driven by a commitment to ensure that higher education is a realizable goal for America's youth.
Is Upromise a charitable organization?
Upromise is a for-profit company whose primary mission is to fundamentally alter the affordability of and access to higher education for all American families.
Does Upromise offer scholarships?
No. Upromise is a new way to save for college designed to help you save for your future college student through your everyday spending.
What happened to the Upromise Education Foundation?
Sallie Mae Corporation, which acquired Upromise in 2006, sponsors The Sallie Mae Fund---a charitable organization whose mission is to increase access to higher education for America's students by supporting programs and initiatives that help open doors to higher education, prepare families for their college investment, and bridge the gap when no one else can. The Fund's giving efforts focus on access philanthropy - promoting that a higher education is accessible and affordable to all---and today directs annual giving programs that exceed $12 million. Because Sallie Mae already sponsors a charitable foundation with a very similar mission to the mission of the Upromise Education Foundation, Upromise dissolved the Upromise Education Foundation in 2007 and now works directly with The Sallie Mae Fund.
How is Bill Bradley associated with Upromise?
Bill Bradley has joined Upromise as a special advisor and also serves on the company's Board of Directors. Senator Bradley works with the Upromise management team as well as the Upromise Advisory Board, which consists of current and former CEOs, state governors, and university presidents who have banded together to help make higher education more affordable and accessible to American families.
Can I still save with Upromise if my future college student wants to go to a trade or vocational school?
Yes, you can still save with Upromise if your future college student wants to go to a trade or vocational school. In addition, Upromise company contributions transferred to a linked 529 account can pay for qualified higher education expenses at any accredited post-secondary institution in the United States, including trade and vocational school.
Can I still save with Upromise if my future college student wants to go to graduate, medical, or law school?
Yes, you can still save with Upromise if your future college student wants to go to graduate, medical, or law school. In addition, Upromise company contributions transferred to a 529 account can pay for qualified higher education expenses at any accredited post-secondary institution in the United States, including graduate, medical, and law school.
What can I do with the company contributions I've saved through Upromise if my future college student delays pursuing higher education?
You can continue to get contributions for that student if he or she thinks they will pursue higher education sometime in the future.
