Bilt Loyalty Rewards has a program that addresses student loans, university housing

Bilt, a loyalty program designed to help members leverage their maximum expenses on reward points and build passes Towards homeownershipI am currently working on student debt.

On Wednesday, BILT launched two new initiatives to support the two most important financial burdens students face. Loans and university housing.

Bilt members will be able to redeem the points they earn on student loans served by Nelnet, Mohela, Sallie Mae, Aidvantage and Navient, but additional servicers will be available in the coming months. For every 1,000 built points, you can redeem it for $10 for your student loan payments.

Here’s how to earn points when buying a home

Through a partnership with leading student housing firm American Campus Communities (ACC), BILT members can also earn reward points for housing payments while building a credit history.

U-Pointe on Baylor University’s Spite and Union Properties will be the first to adopt the program in May. However, BILT has plans to expand this initiative to a broader ACC portfolio in the coming months. In total, it will be Serving almost 140,000 students.

“Studies show that student debt is currently the second largest consumer debt in the United States,” said Ankur Jain, founder and CEO of Bilt.

By allowing members to use their points to repay loan payments, Jain said, “We are addressing important financial needs while continuing to distinguish between the programs as providing the industry’s most valuable and flexible points currency.”

The initiative highlights how the company can boost the value proposition of the younger generation by exploring ways to expand its home network and helping members maximize value. Their biggest monthly expensesJane said.

Since its founding in 2019, Jain has rapidly built and expanded its compensation platform. What began as a way to earn points to pay rent has evolved into a wider ecosystem where users can earn rewards for everyday expenses, whether shopping at local pharmacies, paying rent, or even buying a home, whether they help them build credit or not.

Last fall, the company partnered with Walgreens to help members earn points on all Walgreens transactions using funds from unused flexible spending and health savings accounts.

Your next Walgreens trip may not cost you much. This is why.

Today, BILT members can earn points on rent payments in over 4.5 million homes nationwide. The platform also offers rewards when members sign or renew their lease.

In November, we launched a program that allows people to earn points when purchasing a home.

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These points are possible Redemptioned for travelfood and fitness classes. BILT Points will be redeemed for travel, meals, fitness classes, and for eligible student loan payments on the BILT website or the Bilt mobile app. The app is free so that users can sign up.