NEWARK, Del.--(BUSINESS WIRE)--To commemorate “America Saves Week,” (Feb. 22-27) Sallie Mae – the nation’s saving, planning, and paying for college company – is offering families an added incentive to get started on saving for college. Families who open a Upromise GoalSaver account this week will be eligible to receive a $10 bonus in addition to robust rewards already associated with this free, FDIC-insured goal based online savings account.
Upromise GoalSaver offers individuals and families a simple, straightforward way to save for college; simply set a goal, save toward it automatically, track progress, and earn rewards. The account has no fees and a competitive variable rate, currently 0.85 annual percentage yield (APY). In addition to a competitive interest rate, Upromise GoalSaver also offers account holders rewards as they save. Account holders who set up automatic deposits are eligible to receive a $10 bonus annually. Goal savers who deposit and retain $5,000 or more into their account as of their three-year anniversary date are eligible to receive a $100 bonus.
Account holders can also qualify to receive a 10-percent match on their Upromise by Sallie Mae cash-back rewards earned through everyday purchases at more than 850 retail partners, dining at more than 10,000 restaurants, and booking travel with partners including Expedia, Travelocity, and Hotels.com. Upromise is free to join and members have earned more than $900 million in cash back for college. For more information or to set up a free, Upromise GoalSaver account, visit UpromiseGoalSaver.com/AmericaSaves.
“Our annual study, 'How America Saves for College,' consistently finds an overwhelming majority of families believe college is a worthwhile investment, yet fewer than half are actually saving for it,” said Martha Holler, senior vice president, Sallie Mae. “America Saves Week is the perfect opportunity for families to get started, and Upromise GoalSaver makes it easy to do just that.”
Sallie Mae recommends the 1-2-3 approach to saving for college: first, open a savings account; second, set a goal and regularly contribute money; and third, explore tax-advantaged options such as Coverdell Education Savings Accounts, prepaid state plans, and 529 college savings plans.
Sallie Mae (NASDAQ: SLM) is the nation’s saving, planning, and paying for college company. Whether college is a long way off or just around the corner, Sallie Mae offers products that promote responsible personal finance, including private education loans, Upromise rewards, scholarship search, college financial planning tools, and online retail banking. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.