Need help paying for college? Upromise is accepting applications for $250,000 in college scholarships

Upromise members and fans can easily help fund the Upromise Scholarship by doing the following:

• Fan Upromise onFacebook. For every new fan of Upromise on Facebook from now until Feb. 15, Upromise will contribute $1 to the scholarship fund, up to $25,000 total.
• Shop Upromise. On Jan. 25, Upromise will donate $1, up to $25,000 to the scholarship fund for every eligible online sale through Upromise.com/shop.
• Dine out. For every Upromise member who registers (for free) as a Preferred Diner athttp://www.upromise.com/rnoptin, Upromise Dining by Rewards Network will contribute $1 to the scholarship fund, up to $15,000 total.

“Especially in this economy and with college costs increasing each year, it is gratifying to know that this program will help 100 bright and hard-working students,” said Suzanne Boozer, an employee who helped to create the Upromise Scholarship, which will reach $1 million in awards since its 2008 launch.

Students may apply now through Feb. 15, 2010, atupromise.com/scholarship. Applicants must meet the following requirements:

• Be a Upromise member or child of a Upromise member (joining is free atwww.upromise.com).
• Have a minimum cumulative grade point average of 3.4 on a 4.0 scale (or the equivalent).
• Have a household income of $80,000 or less.
• Be a high school senior, high school graduate or current college student who plans to enroll in full-time undergraduate study at an accredited two-year or four-year college or university or vocational-technical school during the 2010-2011 academic year.
• Be a U.S. citizen or legal permanent resident residing in one of the 50 U.S. states or the District of Columbia.

Complete eligibility guidelines are available atupromise.com/scholarship.

Sallie Mae recommends the “1-2-3 approach” to pay for college: first, use free money by filling out the FAFSA to access need-based grants, research and apply for scholarships, such as the Upromise scholarship, then supplement with current income and savings. Second, explore federal loans. Available to both students and parents, they can offer low, fixed interest rates and flexible repayment options. Third, fill any gap by using a pay-interest-as-you-go private education loan. For example, Sallie Mae’s Smart Option Student Loan ensures that what students originally borrowed is all they owe at graduation.

To help with college planning,Upromise.com offers free tools including links to Sallie Mae’s scholarship search, college savings plan options and tips on how to earn more Upromise college savings rewards.

For more information contact:
Debby Hohler(617) 454-6741 (for Upromise by Sallie Mae)
Bethany Ciampa(617) 226-9950 (for Upromise by Sallie Mae)