Sallie Mae’s Upromise Adds Up College Savings With Launch of New Local Program

3,000 New Locations to Get Cash Back for College Including Barnes & Noble

NEWARK, Del.--(BUSINESS WIRE)--Just in time for summer vacations, Sallie Mae’s Upromise service today launched a local program offering cash back for college at hundreds of independent local merchants around the country. Cash back is available every day at spas, restaurants, shoe stores, book stores, clothing retailers, specialty stores and more. Upromise continues to offer the nation’s largest network of places to earn cash for college with 54,000 restaurants, retail locations and service providers nationwide.

“Members have been asking for more places to save money for college in stores in their neighborhood”

“Members have been asking for more places to save money for college in stores in their neighborhood,” said David Coppins, president of Sallie Mae’s Upromise. “We’ve significantly expanded the number of local merchants with every day cash back and will continue to do so. For example, students working on their summer reading lists can earn cash back when they shop for books at their local Barnes & Noble.”

Upromise members have long enjoyed rewards by shopping Barnes & Noble online, and now Upromise by Sallie Mae offers the convenience of in-store shopping at the hundreds of Barnes & Noble local retail stores nationwide. Boston Gliders Segway Adventures in Boston, Mass., The Pilates Movement in Denver, Colo., and Atlanta Flower Market in Alpharetta, Ga., are just a few new participating local merchants across the country.

Local college savings can be scouted on the go with the free Upromise mobile app available on iPhone, iPod touch and Android smartphones, or planners can plot out purchases and dining destinations on a desktop. With its GPS technology, the Upromise app automatically finds the consumer’s location and showcases nearby locations offering Upromise rewards. Students and families can view details on participating merchants, view saving offers, get instant directions and share the location with friends via Twitter, Facebook or email.

Free to join at Upromise.com, members have earned more than $600 million in cash rewards since 2001 to help save and pay for college. Cash earned from everyday spending 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 help pay down a Sallie Mae eligible student loan, or requested by check.

Sallie Mae (NYSE: SLM) is the nation’s No. 1 financial services company specializing in education. 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.