Whether you are saving up for your childs education or are trying to pay down your current student loans - Upromise is a free way to give you a little boost. It is free money, people! Well I guess I should call it "free" money because you still have to spend money to earn it - but the money you earn is off of products and services you likely would have bought anyway.

How does Upromise work exactly? Well every time you purchase an eligible good or service with a Upromise contributing company, a portion of your purchase price will be contributed to your Upromise account. To start saving, simply enroll for free on the Upromise site and begin earning contributions with their contributing companies. You then may choose to link your Upromise account to a tax-advantaged investment account in a Section 529 savings plan, your Sallie Mae student loan account or a Sallie Mae high-yield savings account.

It's that simple! You can earn money through a large network of companies - even at the grocery store or your favorite restaurant. Once you have accumulated $25 worth of savings the money can even be transferred directly to your current Sallie Mae, or other student loans. That is like a little extra payment that you need to do nothing (but what you are already doing) to make. I don't know about you but an extra payment to my student loans, even a small one, would really help!

They have a lot of other extras to help you save as well - such as a credit card where you can earn additional money back (on top of the money that is offered through the participating company), and an add on (Turbosaver - Download TurboSaver by 8/31/10 and you'll be automatically entered into the $100,000 College Dream Sweepstakes. 10 lucky members will receive $10,000 in their Upromise college savings account) to your web browser that will remind you your at a participating site.

So whether you want a small boost to your current loans, or are starting an account for a young friend or family member, start taking advantage of the service today, you will be glad you did!