Colleges

Spend and Save: A new company has launched a college-savings plan that promises to help families save money for their children's future education when they buy new cars, enjoy dinner and a night out on the town, or make other purchases.

Upromise Inc., based in Brookline, Mass., announced the program at an April 24 news conference in New York City. Officials also provided a rundown of the companies that have agreed to participate in the endeavor, including big-name corporations such as AT&T, Borders Inc., Century 21 Real Estate Corp., Citibank, Coca-Cola, General Motors, and drug store chain CVS Corp.

The plan allows individuals to start a family-savings network that can include parents and two other family members. A percentage of dollars spent with Upromise partner companies will...

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