Alright, so I've signed up for Upromise and I've gotten my father to do the same. I have a loan account with AES that I have linked to my Upromise account. Does anyone know how long it takes for money earned to be transferred to the loan, or is there some manual intervention required on my part? I have $5.71 available and $6.60 pending thus far. Do they only do a transfer once a month, or what? I can't find the information on the site. Thanks.--Xenonax
Heh - Upromise was a big joke in my case.Son was in college 5 years. All I got was about $15 total.It was fun to watch as the 3¢ amounts added up when I purchased Scott Tissue, or Heinz kethup, but a waste of time.I am not really a big consumer.: )donnaPS I think the deposits were quarterly. Remember to use the Upromise website to link to member stores if ordering online, or you get no deposits.
"What is the minimum amount that must be in my account before it is applied to my loan?There must be a minimum of $50 in your Upromise account before it will be initially transferred to your AES education loan. The minimum transfer amount for subsequent quarterly transfers is $25."From: http://www.upromise.com/8350.2.doDawn
I am not really a big consumer.Well, I am not personally a big consumer. But, I do travel a lot for work. I get about $5 for every week I book a hotel through the Upromise site. Even if I don't end up paying down debt with this, I should get a little change for a future child. Thanks for your feedback.--Xenonax
You probably won't end up with a whole lot of contributions from the Upromise plan (I've been using it for a few years now, and have posted several times here). After you clear the $50 hump, it is nice to see those occasional $25+ contributions show up from time to time, though. It's especially fun to go out for lunch or dinner or something and see a relatively substantial amount (5-10%) come back. Bottom line is, you definitely should not expect it to be a major source of repayment funds. I'm wondering... if I were to get one of those AT&T cards and link it to my Upromise account... what would that be like?
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