Groupon's Daily Deals Come With Cash Back for College Students
Groupon offers local deals through its site on restaurants, services and retailers every day, and students who are registered with Edhance can get 10% cash back on those discounted purchases.Here's how: Students register their credit or debit cards at Edhance to receive rebates, then go to the Groupon website to purchase vouchers for that site's daily deals. The 10% cash-back transfer is made to student accounts seven to 90 days after the Groupon purchase. There's no charge to students for signing up.
How good are the discounts? A recent Groupon deal in San Jose offered $50 worth of clothing at American Apparel for $25 -- not counting the cash-back incentive. But the Groupon discounts only take effect when enough people sign on to take advantage.
What's in it for Edhance and Groupon? Edhance President Bjorn Larsen said in an August release that there seems to be a misconception about college students and money. "A lot of people don't think students spend a lot of money," he said, "but they do." Students tend to have money for things like food, computers and textbooks, he said, and spend an average of $306 billion a year.
The Edhance president said that partnering with Groupon, which reportedly is about to be purchased by Google for $6 billion, helps that company, too. "It's a way to reach more college students for Groupon."
Although Neeraj Deshpande, a San Jose State University student, said that he hadn't heard of either company, he said that he'd use their services.
"Everybody is looking to cut down expenses," he said.