<p>If I get a check from U Promise for say $450 or something like that to put into my student account will this reduce my FA?</p>
<p>Is it addressed to your university or to you?</p>
<p>I think if the check is made payable to you, you don’t have to report it and thus it won’t reduce your FA.</p>
<p>I think it’s made payable to the college but it’s not really a scholarship just money that parent’s “save” through purchasing from their partners.</p>
<p>I just requested a UPromise check recently. The request form did not ask for the name of the college.</p>
<p>I’ve been doing Upromise for YEARS, like about 6.
Each check I’ve requested has always been sent to me, at home, not to son’s school.
We’ve only accumulated about $60 per year though :)</p>
<p>How exciting! I thought you had to have a 529 account to take money out of a Upromise account. I have been a member since 2002 and barely have enough to buy a couple of books. =) I just filled out the form and am looking forward to receiving my check in 12 weeks or so.</p>