Upromise Extends a Helping Hand to Student Loan Borrowers

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With 68% of borrowers making financial sacrifices to repay their student loans, Upromise now offers an easy way to reduce loan balances and ease the payment burden

EL SEGUNDO, Calif., Jan. 24, 2024 (GLOBE NEWSWIRE) — As tens of millions of Federal student loan borrowers must start making monthly payments again, Upromise offers a free rewards program that will ease their repayment burden. Student loan borrowers can use the Upromise rewards program to pay off their student loans faster by linking their student loan accounts.

Upromise, famous for helping American families save for college and generating over $1 billion in college-savings rewards over the years, is excited about the opportunity to help student loan borrowers as well, including providing a $25 bonus for new members who link their student loan accounts.

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Upromise recently commissioned a national survey among adults paying off student loans, which found that nearly seven-in-ten (68%) have made financial sacrifices in other areas to make student loan payments. This research also revealed that the majority anticipate it will take at least six years to pay off student loans, while also identifying the biggest pain points around student loans as overall financial stress (51%), impact on other financial obligations (43%), and their monthly payments merely paying the interest on the loans (38%).

“Upromise’s new student loan repayment program extends our long-standing support for helping American families pay for higher education. For over 20 years, Upromise has helped American families save for college via 529 Plan education savings accounts and other college-savings vehicles. Now we are addressing the student loan crisis that threatens many college graduates with years of burdensome loan repayment obligations,” said Chuck Davis, Chief Executive Officer of Prodege, LLC.

Upromise partners with major retailers, restaurants, and supermarkets to give members cash back rewards on their purchases, online and in-store, as well as rewards for playing mobile games, taking surveys, and other exciting offers. Active Upromise members can earn rewards for hundreds or even thousands of dollars a year to reduce their student loan burden.

With over 43 million student loan borrowers in the United States, the Upromise rewards program offers a boost to help with repayments of Federal, Federally-guaranteed, or private educational loans.

About Upromise
Upromise is a division of Prodege, LLC, which operates a portfolio of digital rewards and cash back programs. Upromise provides unique opportunities for consumers to earn rewards for shopping, dining out, taking surveys and other everyday online activities, and then automatically applies those rewards as cash to any 529 Plan education savings account, student loan account, or bank account. Visit www.upromise.com for more information.

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ICR Inc.
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