Upromise

Infobox Dotcom company
company_type = Subsidiary of Sallie Mae
company_name = Upromise, Inc.
company_
foundation = 2000
location_city = Newton, MA
location_country = United States
key_people = president David Rochon, founder Michael Bronner,
url = [http://www.upromise.com www.upromise.com]
launch_date = April 2001

Upromise, Inc. is an American corporation launched in April 2001. Upromise is the largest private source of college funding contributions in the United States. To date, Upromise and its partners have contributed $450 million to their member's Upromise college savings account.

Membership receive contributions when making everyday purchases of products and services at more than 21,000 grocery and drug stores, 14,000 gas stations, 8,000 restaurant, as well as thousands of retail stores, and more than 600 online shopping sites. Upromise partners include CVS/pharmacy, Citicorp, ExxonMobil Corporation, Bed Bath & Beyond, McDonalds, JCPenney, LandsEnd, Sears, iTunes, and hundreds of others. Upromise also allows members to start their own college savings strategy through tax-advantaged 529 college savings plans offered through Upromise Investments, Inc. In addition Upromise college savings rewards can be used to help pay down eligible student loans.

Upromise is headquartered in Newton, Massachusetts and has more than 350 employees.

The "529" college savings plans are offered through Upromise Investments, Inc. (member FINRA/SIPC), with investment management by The Vanguard Group.

Upromise provides marketing services and incentives to establish brand loyalty in college students and their families on "everyday" purchases. However, the nature of the program is designed to encourage brand loyalty for the company's clients. Upromise actively solicits college students and their families to join its program through direct mailings, tabling at colleges, fliers, and advertisements in periodicals. On August 23, 2006, Upromise was acquired by Sallie Mae.

Controversies

Upromise also advertises for companies that do not contribute to members accounts, such as Amazon.com.

Competition

*Freshman Fund
*FutureTrust

External links

* [http://www.upromise.com Upromise official website]
* [http://www.upromise.com/pages/visitor/affiliateLanding.do Upromise affiliate program]