Education Savings Accounts - 529 Savings Plans

Many families find it tough to save for college while trying to take care of more pressing financial needs. One way to boost college savings is to sign up for a service that allows you to add funds to a savings account when you shop at various retailers.

Link to 529 savings plan

When you sign up with a service such as Upromise or BabyMint, you earn money when making purchases from various partners. The percentage you earn on each purchase depends upon the retailer. The cash you receive can be deposited into a 529 savings plan or you can choose to receive a check payable directly to you.

Savings from purchases

Signing up for these plans is free and there is no obligation to buy anything. You do need to link your credit cards or debit cards to your account to earn savings. You can also link your store cards from grocers, drugstores and other retailers to your account. While a Upromise or BabyMint account can help you grow your college savings account, it’s not a substitute for putting together a plan to save and pay for your kids’ educations.