Local Savings a Search Away with Upromise by Sallie Mae’s New Mobile App

Smartphone App Showcases Ways to Save Money for College on the Go

NEWARK, Del.--(BUSINESS WIRE)--Smartphone users just got a college savings bonus with the launch of a free, money-saving mobile app from Sallie Mae’s Upromise. Available on iPhone, iPod touch, Android and Blackberry smartphones, the mobile app can help the more than 73 million U.S smartphone users leverage Upromise to earn money for college when they are on the go. The location-based service instantly searches more than 50,000 restaurants, retailers, services and gas stations that provide Upromise savings where they live, work and travel.

“Saving for college has become as high a priority as saving for retirement”

With its GPS technology, the Upromise app automatically finds the consumer’s location and showcases nearby stores offering Upromise rewards. Smartphone users can even plan a trip using the app to explore places to save in other locations. Students and families can view details on participating merchants, view saving offers, get instant directions and share the savings with friends via Twitter, Facebook or email. The Upromise mobile apps for the iPhone and Android are available now and take just seconds to download.

“Saving for college has become as high a priority as saving for retirement,” said Colleen Miller who led the app development at Sallie Mae. “The free Upromise app is an innovative way we simplify saving for college –whenever and wherever you are.”

Upromise by Sallie Mae rewards members with money for college when they make eligible purchases from hundreds of participating companies. Free to join at Upromise.com, members can earn money when they shop online, book travel, dine out, buy groceries or even purchase a home. Cash earned from everyday spending with Upromise partners goes directly into a Upromise account and can be invested in a tax-deferred 529 plan, deposited into a Sallie Mae high-yield savings account, used to pay down a student loan, or requested by check.

Sallie Mae (NYSE: SLM) is the nation’s No. 1 saving, planning and paying for college company. Serving 23 million customers, Sallie Mae offers innovative savings tools, tuition payment plans and education loans that promote responsible financial habits and reward success. The company manages or services $238 billion in education loans and administers $37 billion in 529 college savings plans. Members of its Upromise college savings rewards program have earned $600 million to help pay for college. Sallie Mae is also one of the leading financial service providers for universities and governments at all levels, including supporting $8 billion in ecommerce transactions annually at nearly 1,000 campuses. More information is available at www.SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6700572&lang=en