I hesitated for a long time before finally signing up for Upromise. My biggest concerns were giving up my personal information yet again, and not accruing enough money to make it worthwhile – after all, we haven’t funded a 529 account yet. But a few months ago, I learned from Five Cent Nickel that you can withdraw the funds in your Upromise account. That was the clincher – I could start the account, and if the money wasn’t enough to make investing worthwhile (taking fees into consideration), at least we could withdraw the money and do something else with it. Additionally, thanks to Consumerism Commentary, I’ve learned that I might be able to apply the funds to my own student loans. All in all, it added up to free money that I could no longer pass up.
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Very helpful, I didn’t know about the possibility of withdrawing the money. My pennies have been adding up over the last twelve months!