Proposed Consent Agreement In the Matter of Upromise, Inc., File No. #00003

Submission Number:
00003
Commenter:
Patricia Mooney
State:
New Jersey
Initiative Name:
Proposed Consent Agreement In the Matter of Upromise, Inc., File No.

Dear representative, I first heard of Upromise and joined at the Sallie Mae student loan site. It advised I join and save money for college. This would be a perfect group to take info from since they are used to the internet and giving information online and they could be tracked through many years of consumer practice. The ads for upromise were there everytime I paid a bill. I looked quickly now and do not see the ads. Unfortunately, there is posted a Upromise® College Fund 529 Plan. One can only imagine how unscrupulous that could be and the damage it could cause to students ready to start a life. I believe what the company did is serious enough to close them down and I would greatly support that. If this is not a consideration, they should be monitored continuously. Please look into Upromise® College Fund 529 Plan and give great consideration to eliminating it after betrayal of the public trust. Thank you Patricia Mooney RN