Does Sallie Mae own Upromise?

In May 2020, Upromise was acquired from owner Sallie Mae by loyalty marketing company Prodege.

What is Upromise by Sallie Mae?

Upromise by Sallie Mae is one of the many rewards programs in which participants accrue cash back points on purchases from participating vendors, including gas stations, restaurants, grocery stores, travel companies, and online retailers.

What happened to Sallie Mae student loans?

On April 30, 2014, Sallie Mae spun off its loan servicing operation and most of its loan portfolio into a separate, publicly traded entity called Navient Corporation. Navient is the largest servicer of federal student loans and acts as a collector on behalf of the Department of Education.

How do I cash out my Upromise account?

You can request a withdrawal online at www.ssga.upromise529.com or by calling 1.800. 587.7305. We are required to file IRS Form 1099-Q if you take a withdrawal from your SSGA Upromise 529 account.

Is Upromise legitimate?

Upromise.com is a subsidiary of the student loan giant Sallie Mae, which offers members a unique way to save for tuition and student loan payments with everything they buy. Here are the important stats, calculated 9/18/12: Average rewards rate: 5.26% (check out our calculation here.

How does Upromise make money?

Upromise Restaurant Rewards Upromise partners with approximately 10,000 restaurants across the United States. Each time you eat at one of these restaurants, you can earn 2.5% cashback on your purchase. You will have to sign up as a Upromise member first and then register your credit or debit card(s) with the program.

How do you maximize Upromise?

The most likely way to maximize rewards with the Upromise Mastercard is to use the card as part of a college-savings strategy. By turning on Round Ups and linking a 529-plan account, it’s possible to earn extra cash back for each purchase.

Is Upromise a good idea?

Is Upromise Worth It? As a free rewards program and a credit card with no annual fee, there’s really no downsides to using Upromise. And it’s always great to earn rewards for the money that you’re already spending throughout the month.

Who is the largest provider of student loans?

Federal Student Aid
Federal Student Aid, a part of the U.S. Department of Education, is the largest provider of student financial aid in the nation.

What can I use Upromise money for?

You earn cash rewards for shopping and dining at thousands of participating stores and vendors. Those funds are put in your Upromise account for you to use for college savings or student loan debt.

How do I get a check from Upromise?

Instead of manually requesting and waiting for a paper check every time you want to receive your rewards, simply link a 529 College Savings Plan account or checking/savings account to your Upromise account.