SallieMae Announces Completion of uPromise Acquisition

Today Sallie Mae announced it has completed the purchase of the 7-million-member uPromise rewards program, initially announced in June. The uPromise name will remain, as will uPromise's CEO, Tom Anderson. SallieMae's CEO, Tim Fitzpatrick, said, "We are excited to help families save and pay for college through our partnership with Upromise. This transaction advances our mission to increase access to higher education and to educate students and families on how best to meet college costs."

The full press release is here.