Here is something I wrote about a year ago in another conversation about upromise:
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I've been doing some more reading. It appears that if you set up a 529 with them, you have to have $250 initially and a mnimum of $50/month in contributions. So unless you and yours do A LOT of shopping, you would have to plan on adding your own savings to the upromise contributions. (Not that this is bad, of course - just trying to figure out if there was some sort of catch to setting up a 529 plan using solely upromise money.)
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Does anyone know if you can take the money you get from the shopping bonuses, withdraw it, and spend it on educational expenses? It's been so long since I looked at the program.