Bilt Rewards, a loyalty program that offers advantages in rental payments and mortgages, is directing its attention to one of the nation’s biggest debt problems: student loans.
The Startup based in New York, which operates as a payment processor, presented programs that will reward students with points for their loans and housing payments on the campus.
The company already has programs for Rolers, as well as housing buyers and condominiums and cooperative owners. Bilt members can spend the points on expenses such as trips, with more than 100 main airlines and hotel partners; Fitness classes; dine out; Lyft Walks; And only prescription claims in Walgreens.
“With all tariffs, with all the different world economic challenges, things are more exenous than ever,” Bilt Ankur, founder and executive director of Tinder and former Tinder executive.
“When you pay your rent, you must start paying your student loans and tries to pay everything else, it is crazy how expensive it is.”
The Bilt Student Loan Payment Redemption Plan, which was launched on Wednesday, aims to relieve financial burden for university students, allowing them to exchange points in loan payments with eligible services such as Nelnet, Mohela and Sallie Mae.
The growing debt of student loans is a big problem over the United States, with 42.7 million borrowers that owe more than $ 1.6 billion in student debt or April 21, according to the Department of Education.
More than 5 million of those borrowers have not made a monthly payment in more than 360 days and sit in breach, the department said.
Bilt customers will earn approximately one point for every dollar they spend, with 1,000 points that earn the issue of $ 10 in reimbursement value.
The company has its own brand shared brand with Wells Fargo, but users can also add their existing credit cards to the Bilt application to win points. It is free to register, he thought that some cards are charged a transaction rate.
The Bilt Neighbors Program even savings in local restaurants and gyms, and these sacrifices will expand to university campuses.
“When you go to the local pharmacy on the campus, you will get your automatic medical care savings,” Jain told The Post. “You will get the compensation shake at Barry’s training camp, courtesy and water shoes in the soul cycle. If you are a university student, these are real savings.”
Bilt is also launching a new program that offers rewards in housing payments for students. It is an association with Blackstone and American Campus Communities, Thiches manages apartments in Attry institutions, including the University of Michigan in Ann Arbor, the University of North Carolina in Chapel and Princeton University in New Jersey.
The Housing Advantages will begin at the University of Baylor in Texas later next month as a pilot program for students of 18 years or more.
“Students are going to build their credit now with rental payments, which are huge, huge and huge things, to get out of school now with a more mature credit profile,” Jain told The Post.
“Paying your rent on the campus now gives you the ability to make the trip that I wanted to make that otherwise I could not pay, or help you save to pay some loans from the land. I think that more than soe is really a real one,” “
Bilt was publicly launched in 2022. The former American Express CEO, Ken Chenault serves as president of his Board, while the NFL Commissioner Roger Goodell is the independent director of the firm.
