BabyMint, Inc., the nation’s leading microinvesting technology company, announced it will give away up to $10,000,000 in scholarship credits during September to celebrate National College Savings Month.
Traditionally through the BabyMint program consumers receive up to a 20% rebate on every-day purchases made through the company’s network of more than 700 retailers, including Barnes & Noble, Gap, Starbucks, Blockbuster, and others. Retailer and product rebates are automatically tracked and deposited in the consumer’s college savings plan. Now, BabyMint is sweetening the deal by giving away up to $10,000,000 in scholarship credits. A $100 scholarship will be made available to every family that joins the company’s free program during the month of September. The scholarships — in the form of tuition credits called “Tuition Rewards” — are redeemable at nearly 150 colleges and universities nationwide, with more schools added over time.
“Educational funding is one of the most difficult financial planning problems families face”, says Jordan Goodman, an eighteen-year veteran of Money Magazine and author of “Everyone’s Money Book,” a best-selling book on personal finance. “This scholarship offer is tough to beat. There is no reason not to take advantage of it,” according to Goodman.
In addition to the initial scholarship offered during its promotion, BabyMint program participants receive matching scholarship credits on an ongoing basis, on top of the retailer rebates they normally earn. For example, through the program a $100 transaction at PetSmart results in a $7 cash rebate and an $7 tuition credit — in total a $14 contribution towards college. “Depending on when a parent or grandparent enrolls in the program, they could save thousands towards the spiraling cost of higher education,” according to Peter Davis, a former Procter & Gamble executive who is BabyMint’s founder and CEO.
“By itself BabyMint won’t put your kid through school, but as a supplement to college savings, they can provide a boost,” concludes Goodman.
For more information on the BabyMint program, visit the company’s website at .