Paying for College

Upromise Scholarship

Here's some interesting information about a scholarship opportunity from Upromise. If you're looking for additional college funding, Upromise is now accepting applications for its third annual scholarship program, which will award $2,500 to 100 deserving students for the 2010 – 2011 academic year.

This year, to add a unique twist, Upromise will use Facebook to help the company reach the million dollar mark. For every new fan of Upromise on Facebook from now until February 15, one dollar, up to $25,000, will be contributed to the Upromise scholarship.

Since 2007, Upromise has given $750,000 in scholarship funding to hundreds of dedicated students. Check out Upromise's YouTube channel to see where some of these students are now.

Here's the Upromise scholarship press release:

Need Help Paying for College?

Upromise Is Accepting Applications for $250,000 in College Scholarships

NEWTON, Mass., Jan. 20, 2010 – Do you or someone you know need help paying for college? Upromise by Sallie Mae is now accepting applications for this year's scholarship program, which will award $2,500 to 100 accomplished college-bound students for the 2010-2011 academic year. Made possible by lead sponsor Bank of America and contributions from MasterCard Worldwide and Rewards Network, the Upromise Scholarship helps high-achieving students pursue a college education.

“By helping to pay my tuition, the Upromise Scholarship has allowed me to pursue my dream of studying biology," said Natalie Alatriste, a freshman at the University of Central Florida and recipient of the 2009 Upromise Scholarship. “I think it's amazing that programs like Upromise are available to provide financial support to students like me."

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

  • Fan Upromise on Facebook. 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
  • Dine out. For every Upromise member who registers (for free) as a Preferred Diner at, 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, at Applicants must meet the following requirements:

  • Be a Upromise member or child of a Upromise member (joining is free at
  • 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 at

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, 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.


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