Friday, June 29, 2007

Free Money For College

When our son was born, some of the best advice we got from fellow parents was to enroll in both a 529 plan and Upromise as soon as possible.

We were already going to spend money on groceries and/or internet purchases anyway, so why not have some of it go to our child's college education? Upromise, obviously, won't pay for his tuition, but it may pay for some of his books someday.

We joined Upromise (for free) and then registered our credit cards and grocery cards. A portion of the purchases is then saved into your Upromise account. Your Upromise account can be linked to a 529 College Savings Plan for automatic deposits.

We even enrolled his grandparents and other family members via simply registering their grocery cards.

It works for us.