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Help Paying off Student Loans--easy, cheap, and amazing

Updated on January 8, 2012

 Ever been to college? Ever been to a college that you had to take a loan out for? Well I'm there, and I'm only into my first year with 25,000 student loan. Most people try FAFSA, Grants, and leak their parents broke to the bone...and unless you are rich, it only works for so long before the funds run out.

Recently there has some relief with the burden of small to even large student loans, with grace periods until after graduation to even small payments during your college term. For those who chose to wait until graduation and maybe even 6 months later to start paying off their student loan obligations--may have encountered what is being called quite the recession, and can't afford the 300 even 400 or more dollar monthly payment to satisfy that obligation.

Well I am going to tell you of an awesome program that not too many people seem to know about to help pay down if not even off over time, your student loan. Its through Sallie Mae and it's call UPromise. Now here's a little backstory--I am in Art School and took out 25,000 dollars to pay for the first year...and man oh man...maybe I didn't think that all the way through, BUT I chose the 25 dollar a month payment so that I could still maintain my housely obligations and afford to get food and everything else. Mind you, 25 dollars does not even pay down the interest on the loan...but it does help...a very miniscule amount...but helps none the less. So, I am about to take out my second year loan and I started trying to find ways to help me pay off my student loan--granted--there's not much out there, but when I called Sallie Mae and asked the question, they referred me to UPromise.

Sounds a little to good to be true right? Well its not...and it works rather simply honestly. Once you sign up for UPromise all the fun really begins. What makes UPromise so great? You don't even have to have a student loan and you can save for college for yourself or for your children...without even having to physically deposit money into it--that's what makes this student loan repayment program so great.


 How Upromise works:

Once you sign up for a Upromise account, you open yourself to over 700 online and physical retailers and restaurants who give back a certain percentage (anywhere from 1-25 percent) of your purchase price to be deposited into your Upromise account. After that you can use it for yourself, your loan, or to save for your kids--you can even use that money to go on the long sought after vacation. Right and Below are some screen captures of the account holder webpage.


Some of the perks to Upromise is it doesn't cost anything to have or anything to use. You just spend as if you would daily or even weekly and you get anywhere from 1 percent to 25 percent deposited back by the participating retailer.

Here's some more awesome:

Like to eat out a lot? Maybe not even a lot but weekly, or even monthly? Sign up for the Upromise Diner's Rewards and you get that money for that as well. All you have to do is log on and select the tab that says preferred diner's, type in your zip code, and find tons of restaurants that give you a percentage back for dining with them. It even breaks down which days during the week the contribute. Pretty awesome so far huh?

Like to shop online? Upromise even has retailers that deal with the program specifically earning you even more back on your purchases...and a lot of the time you get free shipping just for using those specific retailers. The rewards usually get credited to your account within 10-14 business days. Some retailers take 30-60 days for you to see credit--so don't get alarmed if you haven't seen the credit yet.

Got a gas guzzler for a vehicle? Or even travel a lot? There are even gas stations that give contributions back, one of them being Exxon mobile. I believe they contribute 1 percent of your total purchase after 20 gallons. Don't ask me why it's 20 gallons before you can start earning rewards, but you have a lot of trips or drive a lot...that 20 gallons doesn't seem too extravagant does it?

Do a lot of grocery shopping? Use grocery stores like food lion? Walmart? Well guess what! You can even earn in upwards of 20 dollars a month using Upromise grocery coupons. How does this work? Each month Upromise loads coupons onto the account page. All you have to do is enter your preferred grocery card--like a food lion card, King Soopers Card, Kmart and so forth (make sure Upromise accepts some of them first) as you would a credit card and then load the coupons onto your grocery rewards card and BAM....rewards just for buying certain products.

Looking for a cellphone? Or looking to upgrade? They even have providers you can go through and get money back for that purchase as well.

Like to buy things on Ebay? Barnes and Noble? Guess get rewards back for those as well. Ebay even threw me for a loop, because I enjoy buying things on Ebay...and to top it...its 2 percent back on those purchases as well.

All of what I just told you seems too good to be true...that there's no way there's a program like that. Well l'm here to tell you there is, I use it, and have my friends and family's cards on it as well. Though I just joined and haven't reaped any of the rewards that it can offer, I have seen proof of its delivery.

You can add up to 10 cards on one account, though you can't use the same cards on a different account. Sucks, I know, but if it's to help one person who has higher debt, it's not so bad I guess. It's safe and secure, and over a years time, you have to potential to save 3-8 grand towards a loan, or even for school, just by having 10 cards on there and telling them to check the site out for awesome deals. The more the cards are used (smartly and wisely) the more you reap in rewards.


If you add Debit Cards, you must use them as Credit Cards to gain the rewards for the purchase.

It doesn't hurt to check it out and enroll, what do you have to lose?


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    • monicamelendez profile image


      6 years ago from Salt Lake City

      Wow that's pretty cool, I had never heard of UPromise. Thanks for some good advice. I guess as long as you aren't buying things you wouldn't buy anyway, that would really help out!

    • comparejuniorisa profile image


      6 years ago from United Kingdom

      Always it's really good to have information about this things, highly recommended.


    • midnightbliss profile image

      Haydee Anderson 

      6 years ago from Hermosa Beach

      Thanks, I enjoyed your hub. I will look into UPromise further. :)

    • profile image


      6 years ago

      Upromise is great. Just have to remember to only buy things you would otherwise buy! I signed up for this when I was still in HS and got my parents and all my grandparents to register their grocery store cards and stuff too, so lots of extra savings that way! Good suggestion :) Also, love the use of screen shots in your hub! Great idea.

    • webguyonline profile image


      7 years ago

      thanks for those tips. I'm on my way looking for some ways to help me paying my student loan during my college days and your hub will help me a lot. :-)

    • mypleasurefantasy profile imageAUTHOR


      7 years ago from Virginia Beach

      WildIris--it's actually pretty cool and well worth the look. Let me know if you have any issues with it.

    • profile image


      7 years ago

      This looks interesting. I'm going to check this out further. As a parent paying back student loans for a newly graduated but unemployed student, those monthly student loan payments sting. Thanks for the information.


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