Being a skepctic, I appreciate all of you on this thread who are also skeptical. However, I don't see how this program is any worse than any other FF program. In fact, its better because it pays cash! It seems to me its not in lieu of a 529 plan, but a way to earn free money to be contributed to your 529 plan. And while the rates may change or they may go out of business, the same is true with airline programs; but the risk with Upromise is less because the "points" are montized periodically and transferred to your account. Try doing that with USAir miles.