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The average cost of tuition and fees for the 2016 to 2017 school year was $33,480 at private colleges, $9,650 for state residents at public colleges, and $24,930 for out-of-state residents attending public universities. As a community bank, ParkeBank understands the enormous financial burden that can come with obtaining a college degree, which is why we have partnered with Philadelphia-based SAGE Scholars to help make college more affordable. We are now offering depositors an opportunity to save as much as $53,505 off the cost of a four-year college degree.* (Please contact ParkeBank for full disclosure information).

Tuition Reward points are similar to frequent flyer miles. These points can be redeemed for tuition discounts at 361 participating private four-year colleges and universities in 45 states. Once you are enrolled, ParkeBank clients receive Tuition Reward points based on their checking, savings, and certificate of deposit accounts balances. Rewards are issued quarterly at a rate of 1.25 percent of account balances.*

Follow the link to enroll here. Once you become a member by following the instructions above, you can accumulate and use those points on behalf of your:*

  • children and stepchildren
  • grandchildren and great-grandchildren
  • nieces, nephews, grand-nieces, and grand-nephews

Please note that only family members are eligible. There are three deadlines to be aware of:

  1. Students must be enrolled in ParkeBank College Tuition Rewards by August 31 of the year that 11th grade begins.
  2. Sponsors must transfer points from the sponsor’s account to a student on or before August 31 of the year that 12th grade begins.
  3. Sponsors must submit a Tuition Reward statement to any member college when a student applies.

Visit here to learn about ParkeBank College Tuition Rewards limitations. Contact ParkeBank for more information or stop by one of our seven locations. We look forward to serving you.

*Please contact ParkeBank for additional information and full disclosures.