You can now pay your student loan debt with Bilt points — here's how
Editor's Note
The Bilt Rewards program has rolled out several exciting updates in recent months, from letting members earn points on rent with non-Bilt credit cards to introducing rewards on home purchases. Now, Bilt is adding even more new features — this time geared toward students and former students.
Starting today, you can redeem Bilt Points toward student loan payments. And soon, college students will be able to earn valuable transferable points at select student housing providers.
Here's everything we know so far.
Related: Bilt members can now use points to pay for Lyft rides
Pay student loan debt with Bilt points
Bilt's newest redemption option is one you won't find anywhere else: You can now redeem Bilt points to pay off your student loan.
Now, Bilt members can redeem their points toward student loans serviced by Nelnet, Mohela, Sallie Mae, Aidvantage and Navient. According to a press release, Bilt plans to introduce additional servicers in the coming months.
You can redeem Bilt points directly toward eligible student loan payments via the Bilt app or website. For every 1,000 points you redeem, you'll take $10 off your student loan balance. Therefore, you're getting 1 cent per point in value.
TPG values Bilt points at 2.05 cents per point, per our April 2025 valuations; therefore, you'll be getting less than half the value. To maximize your Bilt points, we recommend redeeming them for travel through Bilt's airline and hotel transfer partners. However, if paying with points allows you to pay off your debt sooner than you could with cash alone, you could, in theory, get slightly more value by reducing the amount you pay in interest over time.
This is a nice option to have — and the first redemption pathway of its kind — if you're looking to chip away at your student loan balance.
Related: How long do Bilt Rewards points take to transfer?
Earn Bilt rewards on student housing
Redeeming Bilt points toward student loans isn't the only way Bilt is attempting to court younger consumers. The program has announced plans to let students 18 and older earn rewards on select student housing payments.
This feature is set to launch in late May with Baylor University's U Pointe on Speight and The Union properties, which belong to the American Campus Communities (ACC) portfolio, the nation's leading student housing company. In addition, Bilt has announced "plans to expand to the broader ACC portfolio, serving nearly 140,000 students, in the coming months."
Although it's in the early stages, this is an exciting development that could help thousands of young consumers build credit history and earn valuable rewards on one of their largest expenses.
Related: Why I love my Bilt Mastercard as a renter in the most expensive city in the US
Bottom line
Bilt Rewards already provides a one-of-a-kind value proposition to many consumers by awarding points on rent payments. Now, the program is adding value for students and former students by allowing points to be redeemed toward student loans.
Students should watch this space to see when and how the program expands its student housing offerings. Similarly, many homeowners are eagerly waiting to see if and when Bilt starts offering rewards on mortgage payments.
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