With a Grand Prize of $28,950, Porte, a Mobile Banking Solution, Wants to Help Students Follow a Path to Financial Freedom(2)
For many, student loans are a burden that prevent one’s ability to start down a path to financial success. According to the Institute for College Access and Success, about 62 percent of college graduates in 2019 had student loan debt and these borrowers owed an average of $28,950. Launched today, the “Porte Pays Off Your Student Debt” Sweepstakes is ready to help change someone’s life, getting them one step closer to financial freedom.
The “Porte Pays Off Your Student Debt” Sweepstakes is now open to any legal resident of the fifty (50) United States and the District of Columbia, age 18 or older, with at least $2,500 in U.S. federal student loan debt. The grand prize is $28,950, with runner-up and third-place prizes of $5,000 and $2,500, respectively. Prize money will be awarded to each winner’s Porte account. Odds of winning depend on the number of eligible entrants. A winner who does not have a Porte account will have five days from notification to open a Porte account or else will forfeit the prize. Porte members who enter, sign up for direct deposit, and receive a deposit to their Porte spending account within 30 days of the end of the promotion period will receive an additional 10 entries. Entries close at 11:59 PM CT on June 14, 2021.
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“It’s well reported that most college graduates leave campus not only with a diploma, but also an overwhelming amount of student loan debt,” said Melanie Few, Populus Financial Group Chief Marketing Officer. “That debt limits young professionals from starting a course toward achieving their financial goals, whether it be buying a car, a home, or saving for life’s unexpected challenges. At Porte, we truly understand that and have developed a solution that provides insight, expertise and tools for members to manage their finances and make smart financial decisions.”
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Launched in 2020 by Populus Financial Group, Inc. with banking services provided by MetaBank®, Porte is a mobile banking solution that provides tools and technology to put members on a path to financial freedom. Representing a modern approach to banking, Porte provides members with real-world insights into their financial challenges and resources to help guide them as they make financial decisions.
Based on feedback from consumers, Porte was designed to deliver key benefits and features in a premium package. Among the many benefits associated with Porte, consumers can earn up to 3.00% Annual Percentage Yield on savings account balances, which is about 40x the national average. Porte members can also enjoy having to pay no monthly maintenance fees and no ATM fees at MoneyPass® ATMs that are located across the United States. Through Porte’s Giving Program, #DoorToChange, members shop with a purpose. With every purchase made with the Porte card, a donation is made, at no cost to the member, to the Porte charity partner selected in the Porte mobile app. Added benefits include early access to paychecks up to two days faster when enrolled in direct deposit, an optional overdraft service, and cashback rewards at participating retailers.
