UPromise is a site from student lender SallieMae, and we always assumed that it was just for parents to save for their children’s inevitable college expenses, but the Wall Street Journal says that anyone can join and use the money to pay down their student loans… or whatever.
A Sallie Mae spokesperson told me that you can use money earned through Upromise rewards to help pay off your student loans. You can even have the funds earned withdrawn as a check. Then, the options are limitless. Roll it over to a charity of your choice. Give it in lieu of a gift card. Cushion your rainy-day savings fund — or get one started. Or, if you’re feeling brave, really put it to work by tossing the extra cash in an IRA or your 401(k).