Inc. Company Backgrounder One of the most pressing issues for American families today is the high cost of a college education. As tuition rates have escalated, outpacing the rate of inflation, families are increasingly pressed to give their children the admission ticket to the New Economy. Relying on loans and financial aid, families are finding that borrowing funds only robs savings from future needs like retirement and elder care. In short, people are ready for a solution that enables them to save for tomorrow while continuing to provide for their families today. As the Internet grows in popularity and goods and services are just a click away, consumer loyalty is at an all-time low.
Businesses spend billions of dollars each year on customer acquisition and retention.
The time is right for a revolutionary solution that simultaneously enables families to create savings for their children's college education, while helping businesses build strong, long-lasting relationships with their customers. Upromise is a revolutionary new savings network focused on fundamentally altering the affordability of and access to college for America's families. In partnership with America's most trusted brands, Upromise can help parents to save thousands of dollars for their children's college education by creating a college savings network of grandparents, aunts, uncles, and friends. A portion of the family network's spending is contributed by the contributing companies into a Upromise account opened. The college savings plan is managed by leading financial institutions.