Help for parents saving for their kids college

[Zillini]

http://www.upromise.com/

Upromise is an incredible program that can help save money for your child's college education. You register at least 1 credit card (completely secure) and participating grocery store rewards cards. Then whenever you make a purchase using your registered card at a participating vendor or through one of their online partners, that company will contribute a percentage to your account. You have the option to set up a 529 through them with Vanguard or they would cut you a check that you can deposit in your own 529.

A sample of some of the participating companies (about 1-5%, but it adds up over time): Coca Cola, Huggies, Tylenol, Kelloggs, Cottenelle, Tide, Eveready

A few of the online partners (for online purchases through the Upromise links and varies from 1-25%): Walmart, Target, Circuit City, Overstock.com, Lillian Vernon, Home Depot, Travelocity, Avis

There are also several retail stores (for in store purchases): Bed Bath & Beyond, Exxon/Mobil, Pep Boys, Whirlpool

Then they've got a variety of restaurant and drycleaners that are also participants. (You need to look them up by zip code.)

We've used this program since 2002 and have been rewarded with over $1,000 into our son's 529 for buying stuff we would have bought anyways. They also have a friends and family program where you can invite others to help fund your account through their purchases.

We even got one of Citibank's Upromise credit cards. Citibank makes additional contributions for certain partner purchases, mainly grocery purchases and Exxon/Mobil gas at 10%. Plus 1% of all total purchases are contributed. Oh and there's no annual fee either. The key is to never carry a balance on this card, then it's literally free extra cash back.

I highly recommend this program. It's entirely secure and simple to do. Heck if some companies are willing to give me money for my kid's college and it's on things I would have bought anyway, then that's fabulous!

[KillarneyRose]

That's a really good idea; thanks for posting

We set up thingamajigs (portfolios, I think they're called. A bunch of stocks and other investments?) for our daughters when we were born and plan to cash those in when it's time to pay for college. I'll tell you, though, it's hard to keep up with the rising tuition prices.

[carnation]

We've had 5 in college this year. Let me tell you, no one foresaw the jump in prices that would occur in GA schools when the HOPE Grant was established...the schools figured they'd stick the parents for more since the state was paying tuition for the A and B students.

Two of ours had full rides but that never covers the extras like personal needs or Greek life!

[Munchkin03]

Originally posted by KillarneyRose
That's a really good idea; thanks for posting

We set up thingamajigs (portfolios, I think they're called. A bunch of stocks and other investments?) for our daughters when we were born and plan to cash those in when it's time to pay for college. I'll tell you, though, it's hard to keep up with the rising tuition prices.

This is what my parents did for my sister and I...unfortunately, they weren't expecting me to go to what was at the time the most expensive college in the nation. All of the Ivies are over $40K this year for the first time---and I don't see it getting any better. I have no idea what's going to happen for my niece and nephew, as tuition costs are outstripping inflation!