The Bilt Rewards program has rolled out a number of thrilling updates in latest months, from letting members earn factors on hire with non-Bilt credit cards to introducing rewards on home purchases. Now, Bilt is including much more new options — this time geared towards college students and former college students.
Beginning at present, you possibly can redeem Bilt Factors towards pupil mortgage funds. And shortly, faculty college students will have the ability to earn precious transferable factors at choose pupil housing suppliers.
This is every little thing we all know up to now.
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Pay pupil mortgage debt with Bilt factors
Bilt’s latest redemption choice is one you will not discover wherever else: Now you can redeem Bilt factors to repay your student loan.
Now, Bilt members can redeem their factors towards pupil loans serviced by Nelnet, Mohela, Sallie Mae, Aidvantage and Navient. In keeping with a press launch, Bilt plans to introduce extra servicers within the coming months.
You may redeem Bilt factors immediately towards eligible pupil mortgage funds by way of the Bilt app or web site. For each 1,000 factors you redeem, you will take $10 off your pupil mortgage stability. Due to this fact, you are getting 1 cent per level in worth.
TPG values Bilt factors at 2.05 cents per level, per our April 2025 valuations; due to this fact, you will be getting lower than half the worth. To maximise your Bilt factors, we advocate redeeming them for journey by means of Bilt’s airline and hotel transfer partners. Nevertheless, if paying with factors permits you to repay your debt before you might with money alone, you might, in idea, get barely extra worth by lowering the quantity you pay in curiosity over time.
It is a good choice to have — and the primary redemption pathway of its type — for those who’re trying to chip away at your pupil mortgage stability.
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Associated: How long do Bilt Rewards points take to transfer?
Earn Bilt rewards on pupil housing
Redeeming Bilt points towards pupil loans is not the one method Bilt is trying to court docket youthful customers. This system has introduced plans to let college students 18 and older earn rewards on choose pupil housing funds.
This characteristic is ready to launch in late Might with Baylor College’s U Pointe on Speight and The Union properties, which belong to the American Campus Communities (ACC) portfolio, the nation’s main pupil housing firm. As well as, Bilt has introduced “plans to broaden to the broader ACC portfolio, serving almost 140,000 college students, within the coming months.”
Though it is within the early phases, that is an thrilling growth that might assist 1000’s of younger customers construct credit score historical past and earn precious rewards on considered one of their largest bills.
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Backside line
Bilt Rewards already gives a one-of-a-kind worth proposition to many customers by awarding points on rent payments. Now, this system is including worth for college students and former college students by permitting factors to be redeemed towards pupil loans.
College students ought to watch this house to see when and the way this system expands its pupil housing choices. Equally, many householders are eagerly ready to see if and when Bilt begins providing rewards on mortgage payments.