University of Iowa junior Adam Schweickert received a $150,000 scholarship from UPromise by Sallie Mae, a national cash-back college savings program.

The sweepstakes, called “Make the Pledge, Keep the Promise” awarded the prize money to the business major, who plans to use the money to pay off his loans for his bachelor’s degree, as well as help to pay for graduate school in which he aspires to receive an M.B.A.

“I was speechless when I learned Upromise by Sallie Mae will pay for my education and that paying for college is no longer a concern for my family,” Schweickert said in a press release. “Paying for college has been challenging, and now we can pay back money my parents borrowed for my education, plus cover the remainder of my college expenses, including an M.B.A.”