GradSave Continues College Savings Revolution with Freshman Fund Acquisition

ROCKVILLE, MD, June 30, 2012

GradSave, a premier online 529 savings and gift giving platform, has acquired Freshman Fund, a pioneer in 529 college savings registries, in a deal that will change the way parents and loved ones save for higher education and accelerate GradSave's growth.

GradSave provides a simple way to donate to a child's 529 college savings plan, a tax-advantaged savings vehicle. By opening a GradSave account, parents, friends, family, and loved ones can contribute directly to a child's future education expenses. The Freshman Fund acquisition, which was finalized on June 12, will help GradSave continue its growth and mission.

"Our goal is to be the go-to site for anyone who wants to save for college, give a child the gift of a college education, and obtain information about saving with a 529 plan," says Chief GradSaver Marcos Cordero. "Freshman Fund's objectives aligned perfectly with ours, so this was a natural and beneficial move for both companies and our members."

Freshman Fund was launched in 2007 by co-founder Jason Olim in an effort to simplify giving kids money earmarked for their college education. Since its inception, the company has developed a sound reputation with thousands of users and donors.

"Freshman Fund is glad to be part of GradSave," Olim says. "Our users will appreciate GradSave's excellent informational, educational and planning tools, while maintaining the ease of use and simplicity of gifting that Freshman Fund pioneered."

Freshman Fund's addition to the GradSave family will bring the company's registered users and donors to almost 5,000 nationwide.

"We're really excited to welcome Freshman Fund users to GradSave and helping them continue on their path to saving for college." Cordero says. "Freshman Fund users will be pleasantly surprised by the added value they'll get with their new GradSave account, including several convenient ways to share their child's profile on social networks and using popular email services."

Freshman Fund accounts will automatically be transferred over to GradSave. All users and donors have to do is login and confirm their account and contact information. With GradSave, users can also create a profile for their child, which they can share with friends and family who want to contribute to the account for the next birthday, holiday, or special occasion.

For more information about GradSave, visit http://www.gradsave.com. For press inquires, please contact Erik Nestorovic at 832-477-5170 or erik@gradsave.com.