I don’t actually know anyone who’s used Upromise. (If one of my semi-loyal readers has an experience with them, please share.) I just thought it was interesting news that Sallie Mae is buying Upromise. I guess this will make Sallie Mae a company that offers a lot of variety in educational funding.
Sallie Mae buys Upromise
— reported by the Washington Business Journal
Student loan lender Sallie Mae is acquiring Upromise, which runs college savings programs for consumers.
Upromise has about 7 million members and expects to grow its membership base by more than 30 percent a year, according to a statement issued by Sallie Mae.
Sallie Mae says Upromise, with 250 employees, will keep its name and operate as a wholly owned subsidiary.
Sallie Mae (NYSE: SLM) has about 10 million student loan borrowers with nearly $127 billion in student loans outstanding.