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NEWARK, Del.--([ BUSINESS WIRE ])--The cost of a four-year private college education is expected to nearly triple over the next 18 years, according to reports. To inspire families to make a commitment to save for college, Upromise by Sallie Mae today launched the a[ Make the Pledge, Keep the Promisea Sweepstakes ], offering a chance to win a $150,000 full ride to college.

"Before I buy or do anything, I always go to Upromise.com to find participating companies to receive cash for college. Our kids are just nine and 11 right now, but by the time they get to college, the first year will be paid for with the help of Upromise"

With a financial advisor in the family, Alicia G. is one step ahead of many parents when it comes to paying for college. Her husbandas college-saving advice includes Upromise, a program which is free to join and members can receive cash for college from everyday purchases. Alicia joined Upromise in 2004, and she and her husband are SuperSavers who have earned more than $15,000 for their childrenas future college education*. She recommends families start saving as early as they can and supplement their savings with Upromise. aBefore I buy or do anything, I always go to [ Upromise.com ] to find participating companies to receive cash for college. Our kids are just nine and 11 right now, but by the time they get to college, the first year will be paid for with the help of Upromise,a Alicia adds.

Since 2001, Upromise members have received more than $700 million in cash for college. Now through Nov. 13, 2012, consumers are encouraged to pledge to save for college and join the millions of Upromise members marching towards a $1 billion savings goal.

In addition to the chance to win a full ride to college as an incentive to start saving, each week for eight weeks Upromise will give away $500 gift cards to major online partners such as Travelocity, Macyas and Walmart.

aAs the cost of education continues to climb, itas more important than ever for families to start planning ahead and saving for college,a said John Ward, senior vice president, Sallie Mae. aWe want to educate and inspire all parents to start saving for college, and we are making it easy to start by earning cash back on their everyday purchases.a

Entries to the aMake the Pledge, Keep the Promisea Sweepstakes can be submitted on [ Upromise.com ] or on the [ Upromise Facebook page ]. Just make a pledge to save for college with an option to upload a photo of your future graduate. Gain unlimited entries by shopping online at [ Upromise.com ].

By starting at [ Upromise.com ], members can earn rewards of 5 percent or more on eligible online purchases. In addition, members can earn cash for college with Upromise by Sallie Mae by dining out, booking travel, buying gas and purchasing other services. Upromise members can use their earnings in one of four ways: transfer into 529 [ college savings plans ] administered by Upromise Investments, pay down an eligible Sallie Mae-serviced [ student loan ], deposit into an FDIC-insured Sallie Mae [ High-Yield Savings ] Account offered through Sallie Mae Bank, or request a check. Learn more or join for free at [ www.upromise.com ].

Join the conversation on how to save, plan and pay for college at [ Facebook.com/SallieMae ] and [ Facebook.com/Upromise ].

* This is a highly active Upromise member. Actual savings depends on the level of spending.

Sallie Mae (NASDAQ: SLM) is the nationas No. 1 financial services company specializing in education. Whether college is a long way off or just around the corner, Sallie Mae turns education dreams into reality for its 25 million customers. With products and services that include college savings programs, 529 college savings plans, Upromise rewards, scholarship search tools, education loans, insurance, and online banking, Sallie Mae offers solutions that help families save, plan, and pay for college. Sallie Mae also provides financial services to hundreds of college campuses as well as to federal and state governments. Learn more at [ SallieMae.com ]. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.