Pay for college using reward programs

BabyMint

BabyMint is a free service that gives you rebates for shopping at participating merchants. You can register yourself or a child, and you can have grandparents, relatives and friends join and direct their BabyMint cash back earnings to you or your child's savings account. You can also have your rebates sent to you via check, directed into another BabyMint member's account or deposited directly into your college savings account, which includes almost any state 529 Savings Plan or Coverdell Educational Savings Account.

Every time you shop within the BabyMint network of retailers and service providers or use the BabyMint Credit Card, you earn cash back rebates. For example, BabyMint gives you 3 percent back at the Barnes & Noble website and 5 percent at Eddie Bauer. You can also purchase gift certificates to use at stores and restaurants and print online grocery coupons.

By enrolling in the optional Tuition Rewards program, you can get matched rebates from more than 150 colleges and universities. What this means is that in addition to a cash rebate that goes into your savings account if you end up attending one of the participating colleges you will also get a reduction in tuition by the same amount. Visit the BabyMint website to see a list of these colleges and a complete list of merchants and rebate rates.

Can I rely on reward programs to pay for all of my education?

Unless you are the shopper of the century, the short answer is: no. While these programs are a nice enhancement to your overall savings strategy you should not rely on them alone to generate the money you need for college. Think of these programs as one of many tools that you'll use to build your savings future.

Stockback

Stockback is not specifically designed for saving for college, but it shares a number of features with the other reward programs. To participate in this program you will need to shop online at a Stockback merchant. Once you do, you earn a percentage of every purchase, which is put into a Stockback investment account. You can withdraw your money at any time and for any reason - including to pay for college. Stockback gives you up to 20 percent at participating merchants such as Radio Shack and Hertz.

1. Look for scholarships that fit you best in your area
What scholarships are available? How can you find something if you don't know what you're looking for? That's the situation many students find themselves in whe...

2. Double your scholarship following a few simple steps
Double your scholarship There's only one thing better than winning a scholarship, and that is having that scholarship doubled. This might sound too good to be t...

3. Describe personal challenges in your scholarship application
Scholarships based on personal challenges and hardships If you've overcome personal challenges or hardships, you can certainly describe this in your scholarship...

4. College applications are also scholarship applications
Ace your college applications to get more scholarships You may not realize that your college applications are also scholarship applications. If the colleges rea...

5. Winning contests might bring you a great scholarship
Feeling lucky? Does the word "contest" conjure up images of Ed McMahon knocking on your door, oversized check in hand? While there are contests based on luck,...

6. What are scholarships for tranfer students and state entitlement awards
Scholarships for transfer students If you find that your college is not the right fit for you, transferring may be the answer. Unfortunately, your financial aid...

7. Buying bonds will help you pay for college for your kids
Cash in a bond tax-free When we were kids, there was no birthday gift that was more disappointing than a savings bond. It was nice to see that the bond would ...

8. Invest your money before sending your kid to college
Minimize your risk and maximize your return with dollar cost averaging If you want to be conservative in your investment approach, consider the strategy of do...

9. What are tuition bills and how to use them for college payments
It is said that nothing is certain in life except death and taxes. If you are going to college or are the parent of a college-bound student, then you can add one more c...