March 7, 2011
-- UPromise is currently owned by Sallie Mae, so I believe you can only make UPromise work for you if you have Sallie Mae student loans. You can link your accounts together & have money earned on UPromise applied right to your loans.
This option won't allow you to pay off all of your student loans, but will definitely help you lower the bills somewhat. Essentially if you shop at a location listed on the UPromise banner that company will give you a percentage back of what you spent to put towards your student loans. You must list the credit cards you use though, to get this money back.
So essentially if you spend $1,000 a year at a certain restaurant it is possible you can earn back $100 that can immediately be put towards you student loans. For more information & a better understanding of how to use UPromise please check out http://studentloandebtsolution.com/loan-help/upromise/
where you will find a breakdown of what UPromise offers: including grocery shopping & even online shipping through UPromise.
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