Please note that I was compensated by Upromise for the content in this post. However, all opinions expressed below are my own, based on my personal experience with Upromise.
I’m a big fan of little things creating a big change. You don’t suddenly nail a bunch of frugal skills and get rich or magically find one big thing to get rid of all your debt (usually – I mean, someone’s got to hit the lottery, but I’m not holding my breath it will be me).
But bit by bit and small change by small change, you suddenly find that you have more money available than you used to. It’s really satisfying to throw a large chunk of money at a debt and see the balance drop drastically, but in reality, most large debts are paid down bit by bit over a long time – especially school loans.
That being said, there’s no reason to not do everything you can to reduce that loan amount, whether it’s a terrific travel rewards card like Aviator MasterCard or an amazing program like Upromise by Sallie Mae is a terrific program to do just that!
Upromise by Sallie Mae lets you start socking away cash back rewards in college savings plans or use that cash back to pay off eligible student loans through Sallie Mae. The program is great because it capitalizes on what you are already spending!
With their program you can shop through their cash back portal at more than 850 retailers,and at certain restaurants and earn cash back. You can also book travel through Upromise.com at sites like Expedia and earn even more. They partner with companies like Travelocity, Orbitz, Hertz and many more stores you probably already use to maximize your cash back earnings.
But the real way to maximize your Upromise by Sallie Mae cash back rewards is to sign up for their Upromise MasterCard, which provides 1% cash back on all purchases – and that 1% increases to 2% cash back at certain department stores and movie theaters – and that 2% increases to 5% when you use the portal to shop online, eat at participating restaurants or book travel. That’s on top of the up to 5% back you’re getting through the Upromise program – for savings up to 10%!
Current college students can really rock the spring break savings by signing up for this card and booking everything using it. If you book on St. Patrick’s Day, you can get up to 10% cash back on your travel plans –whether it’s booking a rental car through Alamo for an awesome, week long road trip or flights to the Caribbean through Expedia, Upromise by Sallie Mae has a lot of travel partners.
The Upromise MasterCard even has a $50 cash back bonus after making your first transaction within 90 days of opening the account. I don’t know about you, but $50 was a pretty big deal to me in college.
So without even really trying, you can start putting tiny dents into the loans you already owe or you can start adding to the pile of savings to send your kids to school!
It’s easy to pish-posh $100 or even $1000 of savings considering the cost of attending school, but when it’s actual cash you have to part with, you’ll be happy for every penny you don’t have to spend.