Bilt Rewards Expands to Student Housing and Student Loan Payments

Bilt Rewards now allows college students to earn points on campus housing payments and recent graduates to redeem points toward student loan debt. This expansion, in partnership with American Campus Communities (ACC), provides a tangible way for students to build credit history and gain financial flexibility. With student loan debt averaging $38,000 per borrower, these programs address two significant financial challenges for young adults.

How Can Students Earn Rewards on Campus Rent?

Students living in housing operated by American Campus Communities (ACC) can now earn Bilt Points for their monthly rent payments. To participate, a student must be 18 or older and create a Bilt account when they move into a qualifying property. Each on-time rent payment accrues points that can be redeemed for various expenses.

These points offer immediate value, covering costs like meals at local restaurants, ride-shares, or travel bookings directly within partner apps. The program launched in late May 2024 at Baylor University, with plans to expand to other campuses, including the University of North Carolina and the University of Florida. The initial goal is to serve approximately 140,000 students nationwide.

Why is Building Credit History in College Important?

Establishing a positive credit history—a record of your reliability in repaying debts—is crucial for financial health after graduation. Many students graduate with limited or no credit history, making it difficult to rent an apartment, secure a credit card, or obtain loans. The Bilt program reports rent payments to major credit bureaus, helping students build this essential financial profile at no extra cost. Based on our experience assessment, this can significantly simplify the process of building credit during a time when traditional options are limited.

Can Bilt Points Really Be Used for Student Loans?

A separate, industry-first program enables all Bilt Rewards members to use their points for eligible student loan payments. Members can redeem points through servicers like Nelnet, MOHELA, and Sallie Mae. The redemption rate is standardized: 1,000 Bilt Points equals $10 toward a student loan balance. For example, 20,000 points would reduce a loan principal by $200.

This directly addresses the second-largest form of consumer debt in the U.S. A July 2024 study from Bankrate found that more than half of undergraduates graduate with debt, underscoring the program's potential impact. Points are applied through the Bilt website or mobile application.

To maximize the benefits of these programs, students and graduates should:

• Enroll promptly when moving into an ACC property to start earning points immediately.
• Ensure all rent payments are made on-time to consistently build credit history and accumulate points.
• Evaluate redemption options based on individual financial goals, whether for immediate expenses or long-term debt reduction.