Comments on: Time To Request A Withdrawal From My Upromise Account http://www.ncnblog.com/2008/07/24/time-to-request-a-withdrawal-from-my-upromise-account/ Debt Reduction Rocks - We Are Living Debt Free! Fri, 10 Feb 2012 00:09:10 +0000 hourly 1 By: Michele Beuerlein http://www.ncnblog.com/2008/07/24/time-to-request-a-withdrawal-from-my-upromise-account/comment-page-1/#comment-142612 Michele Beuerlein Sun, 11 Jan 2009 17:01:47 +0000 http://www.ncnblog.com/?p=1344#comment-142612 I just requested withdrawal yesterday. FYI--Withdrawal questions can go to 617-454-6400 or 888-434-9111. I joined in 9/2001 & only have $200, so it's not like I'm paying for college, but hey, free money! But my kids were already in HS, & I never used the 529 option. IF you start when the kid is a baby, & use a 529 account (usually requires at least $50.month to maintain), yes, you can get some decent $$. I was surprised to see that Upromise doesn't really demand you prove the $$ is used for school, but that may be different if you withdraw from a 529. If you don't have a kid now, I think you DO have to designate a receipient--maybe a nephew? Maybe even yourself? Hey, you could be "planning to go back." BUT you can redesignate at any time, so when Junior is ready, just switch to his name. I just requested withdrawal yesterday. FYI–Withdrawal questions can go to 617-454-6400 or 888-434-9111. I joined in 9/2001 & only have $200, so it’s not like I’m paying for college, but hey, free money! But my kids were already in HS, & I never used the 529 option. IF you start when the kid is a baby, & use a 529 account (usually requires at least $50.month to maintain), yes, you can get some decent $$. I was surprised to see that Upromise doesn’t really demand you prove the $$ is used for school, but that may be different if you withdraw from a 529. If you don’t have a kid now, I think you DO have to designate a receipient–maybe a nephew? Maybe even yourself? Hey, you could be “planning to go back.” BUT you can redesignate at any time, so when Junior is ready, just switch to his name.

]]> By: Stacey http://www.ncnblog.com/2008/07/24/time-to-request-a-withdrawal-from-my-upromise-account/comment-page-1/#comment-123088 Stacey Wed, 30 Jul 2008 01:15:35 +0000 http://www.ncnblog.com/?p=1344#comment-123088 This is great - I've got some Upromise funds left, but my student loans are nearly paid off. You can link Upromise to federal loans, which is really nice for students already in college or graduating. My question - are there any tax ramifications for requesting a check? Does this count as interest on your federal tax return? This is great – I’ve got some Upromise funds left, but my student loans are nearly paid off. You can link Upromise to federal loans, which is really nice for students already in college or graduating.

My question – are there any tax ramifications for requesting a check? Does this count as interest on your federal tax return?

]]> By: Sue http://www.ncnblog.com/2008/07/24/time-to-request-a-withdrawal-from-my-upromise-account/comment-page-1/#comment-122584 Sue Sun, 27 Jul 2008 02:35:23 +0000 http://www.ncnblog.com/?p=1344#comment-122584 I guess I was wrong about the $200 min. Thanks for the follow-up post. I guess I was wrong about the $200 min. Thanks for the follow-up post.

]]> By: Sue http://www.ncnblog.com/2008/07/24/time-to-request-a-withdrawal-from-my-upromise-account/comment-page-1/#comment-122582 Sue Sun, 27 Jul 2008 02:31:31 +0000 http://www.ncnblog.com/?p=1344#comment-122582 From what I remember last I time looked into it you could withdraw the money once you reached $200. http://motherhood101aplus.blogspot.com/2008/01/upromise-withdrawals.html From what I remember last I time looked into it you could withdraw the money once you reached $200. http://motherhood101aplus.blogspot.com/2008/01/upromise-withdrawals.html

]]> By: Eric J. Nisall http://www.ncnblog.com/2008/07/24/time-to-request-a-withdrawal-from-my-upromise-account/comment-page-1/#comment-122156 Eric J. Nisall Thu, 24 Jul 2008 21:38:51 +0000 http://www.ncnblog.com/?p=1344#comment-122156 For anyone who is having trouble earning contributions, the majority of mine comes from online shopping and dining. Shopping at grocery stores is limited to only the certain brands that are on the Upromise grocery list. If you do not purchase those specific products, swiping the card is essentially useless. I happen to do most of my shopping online, and a few of my favorite restaurants are on the preferred dining program list so I have already accumulated close to $30 in contributions since April. For anyone who is having trouble earning contributions, the majority of mine comes from online shopping and dining. Shopping at grocery stores is limited to only the certain brands that are on the Upromise grocery list. If you do not purchase those specific products, swiping the card is essentially useless. I happen to do most of my shopping online, and a few of my favorite restaurants are on the preferred dining program list so I have already accumulated close to $30 in contributions since April.

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