Pennies for College Add Up
Are there any future Ivy Leaguers in your family? Or some future State U'ers? You can help foot the bill by signing up for a rebate program that deposits a portion of eligible purchases into a 529 college savings plan. It used to be that Upromise was the only game in town. But an article in U.S. News & World Report noted that there are two others: BabyMint and Little Grad . With Upromise and Baby Mint, rebates can be used not just to build savings, but to pay down existing student loans as well. Even if you don't have kids of your own, Upromise and Little Grad allow you to link to the accounts of friends or family members with kids. BabyMint also has a relationship with SAGE Scholars in which rebates earned for a 529 plan are matched dollar for dollar in tuition reductions at some 200 colleges and universities.
Matt's View
It takes a little time to sort out the nuances of each program, but once you get started you'll be able to save for college just by buying things you would normally buy. Here's one other rebate savings program you may not have heard of: BondRewards . A percentage of purchases made from BondRewards affiliates can be redeemed for U.S. savings bonds. The site claims that its rebate amounts are higher than most other rebate programs.
Managing Money by The Book
- "I delight in your decrees; I will not neglect your word." - Psalm 119:16
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