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by Sid Kirchheimer, From the AARP Bulletin Print Edition, June 1, 2010
Think of it as Aunt Mary’s groceries paying for Biology 101. Thanks to Upromise, now in its ninth year, part of your everyday spending can go into a tax-free 529 college savings account. Participants register credit and debit cards with the plan. When you buy eligible items from Upromise’s partners—600 online retailers, 21,000 drugstores and groceries, 8,000 restaurants—1 percent or more (occasionally as much as 25 percent) is socked away for college.
Sid Kirchheimer writes about consumer and health issues.
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