• For online shoppers: In addition to a flat percentage back on your credit card purchases, the FutureTrust college savings credit card through Barclays (Stock Quote: BCS) Bank Delaware gives you up to 10% back on purchases at more than 500 online partners when you shop through their web site, plus an extra 1% back on your first $5,000 of purchases in the first nine billing cycles after your account is opened. You can link your FutureTrust account to any 529 Plan, including state-run plans, which may have lower expenses than those managed by firms like Fidelity. 

Hot tip: To calculate the costs associated with specific 529 Plans, use this tool from the Financial Industry Regulatory Authority.

• For big families and big spenders: A Upromise World Master Card Credit Card, through Bank of America (Stock Quote: BAC) might be the best option for big-spending families.  With this card, you’ll get 1% back in college savings, plus an additional percentage back on certain grocery and drug store purchases or outings at participating restaurants. 

Even without the credit card, you can still get 1% to 25% cash back through more than 600 online retailers if you shop through the Upromise web site, up to 8% back from more than 8,000 restaurants and 1% to 3% back on specific grocery and drug store items when you scan your discount card at checkout.  To receive your cash back to invest for college, you’ll have to link your Upromise membership with a 529 plan through Upromise Investments.

Already Graduated?

If you’re more concerned now about paying off your student loans, you can use your savings to pay down Sallie Mae student loans (Stock Quote: SLM) through Upromise’s free Loan Link service instead.

—For the best rates on loans, bank accounts and credit cards, enter your ZIP code at BankingMyWay.com.