I received an interesting e-mail yesterday from Sallie Mae, the company that oversees my student loans. They periodically send out e-mails telling you to consolidate and blah blah blah, but good thing I read yesterday’s e-mail.

I don’t know how long they’ve been partnered together but it looks like Upromise and Sallie Mae have joined forced to help you pay back your student loans. I’ve had a Upromise account since college and I’ve accrued a fair amount of money on it. It looks like now I have the option to direct my money towards paying off my student loans.

For those that have never heard of Upromise, it’s a free program that gives you kickbacks every time you make an eligible goods or service purchase. So for example, if I buy orange juice and deodorant at the grocery store, 5% will go towards my Upromise account. It’s not much, but over time you can accrue a decent amount of money. I have all my supermarket cards and credit cards registered under Upromise.

You have different options to choose from in terms of what to do with the money you accrue. You can apply it towards a 529 student savings account, you can request a rebate check, or now you can apply it towards your student loan balance. Sweet!

Look here for more details.