Student Debt Relief Initiative Introduced by Bilt Rewards
Going HAM on school debt and rent with Bilt
Dive into the world of Bilt, the loyalty program revolutionizing home expenses, as CEO Ankur Jain spills the deets on 'The Claman Countdown.'
Bilt ain't just about rewarding members for their largest expenditures, it's about helping 'em score points and step closer to owning a crib. And now, Bilt's taking aim at that pile of student debt.
On Wednesday, Bilt dropped two game-changing game plans aimed at slashing student debt burdens. First up, Bilt members are now able to cash in their hard-earned points to chip away at student loans serviced by heavyweights like Nelnet, MOHELA, Sallie Mae, Aidvantage, and Navient. Plus, more servicers will be on board in the coming months. Essentially, for every 1,000 Bilt points, members can score a cool $10 off their student loan hairball.
*HED FLIPPING THE SCRIPT ON HOUSING PAYMENTS*
Bilt's teamed up with student-housing giant American Campus Communities (ACC), and now members can rack up points by ballin' on their rent payments and improving their credit score. It all kicks off at Baylor University's U Pointe on Speight and The Union properties in May, with plans to grow the initiative across the ACC portfolio in the near future, potentially serving ~140k students.
"Research's showing student debt's now the second-largest form of consumer debt in America," Jain explained, "So by letting members utilize their points to slash their loan payments, we're tackling a major financial struggle while setting ourselves apart as offering the most valuable and versatile points system in the biz."
Since Bilt's inception in 2019, Jain's been building and expanding the platform at a breakneck pace. What began as a simple rent-points program's morphed into an all-encompassing ecosystem empowering users to earn rewards for everyday expenses, even those related to local pharmacies, rent, and yes, even purchasing a house.
Last fall, Bilt joined forces with Walgreens, allowing members to tap into their flexible spending and health savings account funds for eligible purchases and earn points on all Walgreens transactions.
*YOYO, YOUR WALGREENS TRIP MIGHT BE A LITTLE LIGHTER ON THE POCKET. HERE'S WHY.*
Now, Bilt members can scoop points on rent payments for over 4.5 million homes nationwide. Plus, members collect points when signing or renewing leases.
The points 'ledge can be exchanged for travel, eats, and fitness classes. Redeem 'em on the Bilt website or app, which is free to join. And for those peeps eyeing the real estate game, points can even be used when puchasing a home, a groundbreaking move in the industry.
- As revealed by Ankur Jain on 'The Claman Countdown', Bilt's loyalty program is not just about rewards for large expenditures, but also about reducing student debt.
- Effective immediately, Bilt members can use their points to pay off student loans serviced by companies like Nelnet, MOHELA, and Sallie Mae.
- For every 1,000 Bilt points, members can save $10 on their student loans, with more servicers joining in the coming months.
- In a unique collaboration, Bilt has partnered with American Campus Communities (ACC), offering points for rent payments made at participating student housing properties.
- The initiative, starting at Baylor University's U Pointe and The Union properties in May, aims to expand across the ACC portfolio, potentially benefiting around 140,000 students.
- By allowing members to use points to reduce their student loan payments, Bilt is addressing a significant financial struggle and setting itself apart with a versatile points system.
- Since its inception in 2019, Bilt has rapidly expanded, enabling users to earn rewards for everyday expenses, including rent, pharmacy purchases, and even home purchases.
