GradSave is offering a $50 contribution to a 529 College Savings Plan for only $24 via the Living Social network through January 22, 2013.
GradSave is an online college savings registry that helps friends and family give contributions directly to a child’s college savings plan.
Funds that are contributed to GradSave can be transferred to a linked 529 plan, or they will be held in a regular FDIC-insured savings account from Bank of America until you decide to withdraw them.
Any idea how these work? Can only one be applied per account? It gives the option of buying up to 5 additional cards as gifts - if you're a parent, why not 1 for yourself and 5 additional ones for "gifts." Probably too good to be true - anyone tried that?
Limit 1 per customer, up to 5 additional as gifts • Limit 1 voucher per customer, beneficiary, account, savings plan, or 529 plan • Limit 1 per transaction; cannot be combined • Entire value must be used in a single visit I wonder about those 5 additional ones as gifts...Can they end up in the same GS account?
I put 3 in the same account. They give you a code when you select 'give to a friend' works the same as the one you get. Please note it take about 10 mins after they say the code is ready for it to actually work.
Shufflindoh said: I put 3 in the same account. They give you a code when you select 'give to a friend' works the same as the one you get. Please note it take about 10 mins after they say the code is ready for it to actually work.
Thanks for the headsup on the delay .. going on 25 mins for me, but I'll wait it out.
The fineprint in the email I got from Living Social says: "The Fine Print: Limit 1 per customer, up to 5 additional as gifts • Limit 1 voucher per customer, beneficiary, account, savings plan, or 529 plan • Limit 1 per transaction; cannot be combined • Entire value must be used in a single visit"
(bold for emphasis) This fineprint seems to indicate that multiple vouchers per account would be invalid, no?
civ2k1 said: Shufflindoh said: I put 3 in the same account. They give you a code when you select 'give to a friend' works the same as the one you get. Please note it take about 10 mins after they say the code is ready for it to actually work.
Thanks for the headsup on the delay .. going on 25 mins for me, but I'll wait it out.
The fineprint in the email I got from Living Social says: "The Fine Print: Limit 1 per customer, up to 5 additional as gifts • Limit 1 voucher per customer, beneficiary, account, savings plan, or 529 plan • Limit 1 per transaction; cannot be combined • Entire value must be used in a single visit"
(bold for emphasis) This fineprint seems to indicate that multiple vouchers per account would be invalid, no?
Yeah, that's the way I interpret it. I wanted to buy additional for my daughter, but doesn't appear it would work. My code is still saying invalid as well. I'll wait it a bit and try again.
BingBlangBlaow said: I wonder if someone figured out the voucher sequence and it just applying everyones codes to their account.
That's a possibility. Why don't you post yours and I'll tell you if mine is similar
I'm nearing an hour and still have "invalid code" error. If it's not resolved by tomorrow, I'll be requesting a refund from Living Social. Not worth the risk with GradSave being fairly small/new.
BingBlangBlaow said: I still haven't either. Goodnight. I guess I'll go back to hating LS now.
Yeah, my first experience with them was not so hot either. And this is only my second try.
My first purchase was a Christmas gift in 2011, for a magazine subscription. I purchased on the 23rd, expecting to get the code so I could purchase the actual subscription and provide a printout of such purchase to the gift recipient on XMas day. I ended up having to mock up my own certificate to present to the gift recipient to show what she was getting. I didn't get a code and actually convert to the magazine subscription until the 26th or 27th.
When I called Living Social to inquire, they told me I should just print out the notification that I purchased the Living Social certificate and present that as the gift, eventually forwarding the code directly to the recipient. Do I really need the gift recipient to know I cheaped out and bought the subscription via Living Social?
On the plus side, FatWallet just notified me that Living Social reported my $0.48 Cash Back from this purchase
i sent email to Living Social first they told me to read the directions, after i explained i followed directions they said to give it 24-48 hours even though it states redeem now
Gradsave.com seems interesting. You can contribute to a 529 plan using a credit card (and earn CashBack!). Currently I contribute towards my kid's 529 via my checking account, so time to stop that and use my credit card? Gradsave is also giving a $100 bonus for the first $1000 you contribute. Wondering what the catch is. Any hidden fees? How is the company making money?
civ2k1 said: BingBlangBlaow said: I still haven't either. Goodnight. I guess I'll go back to hating LS now.
Yeah, my first experience with them was not so hot either. And this is only my second try.
My first purchase was a Christmas gift in 2011, for a magazine subscription. I purchased on the 23rd, expecting to get the code so I could purchase the actual subscription and provide a printout of such purchase to the gift recipient on XMas day. I ended up having to mock up my own certificate to present to the gift recipient to show what she was getting. I didn't get a code and actually convert to the magazine subscription until the 26th or 27th.
When I called Living Social to inquire, they told me I should just print out the notification that I purchased the Living Social certificate and present that as the gift, eventually forwarding the code directly to the recipient. Do I really need the gift recipient to know I cheaped out and bought the subscription via Living Social?
On the plus side, FatWallet just notified me that Living Social reported my $0.48 Cash Back from this purchase
Venturion said: BingBlangBlaow said: Notice the part about fees... . as in they are not charging them right now?That's what I meant. That was actually part of the reason I posted the first reply. Although, with my voucher still not being valid, I'm not sure how much I trust them. At the very least, now that this thread's here, it won't last very long. Have you been able to determine any limits?
I realize that student loans are not qualified expenses, but don't you only pay tax on the earnings in a 529 if it's a non qualifying expense? Technically couldn't I buy the $50 for $24, and immediately make a payment to my student loans, without incurring any tax liability since I had no earnings? So technically if I could keep stacking these (getting family to buy them for me), I could pay off my student loans at 48% of their principle balance?
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