The Bilt Rewards program has rolled out a number of thrilling updates in latest months, from letting members earn factors on lease with non-Bilt bank cards to introducing rewards on residence purchases. Now, Bilt is including much more new options — this time geared towards college students and former college students.
Beginning right this moment, you’ll be able to redeem Bilt Factors towards scholar mortgage funds. And shortly, faculty college students will be capable to earn invaluable transferable factors at choose scholar housing suppliers.
This is all the things we all know thus far.
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Pay scholar mortgage debt with Bilt factors
Bilt’s latest redemption choice is one you will not discover anyplace else: Now you can redeem Bilt factors to repay your scholar mortgage.
Now, Bilt members can redeem their factors towards scholar loans serviced by Nelnet, Mohela, Sallie Mae, Aidvantage and Navient. In line with a press launch, Bilt plans to introduce extra servicers within the coming months.
You may redeem Bilt factors straight towards eligible scholar mortgage funds through the Bilt app or web site. For each 1,000 factors you redeem, you may take $10 off your scholar mortgage stability. Subsequently, 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 may be getting lower than half the worth. To maximise your Bilt factors, we advocate redeeming them for journey by way of Bilt’s airline and resort switch companions. Nonetheless, if paying with factors means that you can repay your debt earlier than you might with money alone, you might, in principle, 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 sort — if you happen to’re trying to chip away at your scholar mortgage stability.
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Associated: How lengthy do Bilt Rewards factors take to switch?
Earn Bilt rewards on scholar housing
This function is about to launch in late Could 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 scholar 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 would assist 1000’s of younger shoppers construct credit score historical past and earn invaluable rewards on considered one of their largest bills.
Associated: Why I really like my Bilt Mastercard as a renter in the costliest metropolis within the US
Backside line
Bilt Rewards already supplies a one-of-a-kind worth proposition to many shoppers by awarding factors on lease funds. Now, this system is including worth for college students and former college students by permitting factors to be redeemed towards scholar loans.
College students ought to watch this area to see when and the way this system expands its scholar housing choices. Equally, many householders are eagerly ready to see if and when Bilt begins providing rewards on mortgage funds.
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