Loyalty program Bilt to offer points on student loan, housing payments: ‘More mature credit profile’

New York Post - Apr 23rd, 2025

Bilt Rewards, a New York-based loyalty program, is expanding its services to address the US student loan crisis by introducing a point redemption program for college students. Unveiled on Wednesday, the program allows students to earn points on their loan and campus housing payments, which can be redeemed to ease their financial burdens. With partnerships including Nelnet, MOHELA, and Sallie Mae, Bilt members can earn about one point per dollar spent, translating to $10 for every 1,000 points. This initiative is part of Bilt's broader strategy to offer financial relief through points that can be spent on a variety of expenses such as travel, fitness, and dining. The new program also includes a partnership with Blackstone and American Campus Communities to offer rewards on student housing payments, starting with a pilot at Baylor University.

The significance of Bilt's initiative is underscored by the staggering $1.6 trillion student debt affecting over 42.7 million borrowers in the US. By allowing students to build credit through rental payments and redeem points for essential expenses, Bilt aims to alleviate some of the financial pressures faced by today's students. Ankur Jain, Bilt's founder and CEO, emphasizes the importance of this program in helping students manage their finances more effectively, especially in light of rising costs and economic uncertainties. With a board chaired by former American Express CEO Ken Chenault and guidance from NFL Commissioner Roger Goodell, Bilt is poised to make a substantial impact on student financial management and credit building.

Student Loans Debt Relief Blackstone Bilt Rewards Ankur Jain Loyalty Programs American Campus Communities

Story submitted by Fairstory

RATING

8.0

Fair Story

Consider it well-founded

The article provides a comprehensive and accurate overview of Bilt Rewards' new programs aimed at easing financial burdens for students. It effectively communicates the key features and benefits of the program, supported by credible sources and data. While the article excels in clarity and timeliness, offering relevant information on a pressing issue, it could benefit from greater balance by including diverse perspectives and independent analyses. The potential for public interest and engagement is high, given the widespread impact of student loan debt. Overall, the article is well-structured and informative, offering valuable insights into an innovative financial solution for students.

Accuracy

The story is highly accurate, with most claims verifiable through official announcements and corroborated data. The factual claims about Bilt Rewards' expansion into student loan and housing payments, the launch dates, and partnerships are all substantiated by credible sources. For instance, the launch of Bilt’s Student Loan Payment Redemption plan and its partnership with Blackstone and American Campus Communities are well-documented. Additionally, the involvement of prominent figures like Ken Chenault and Roger Goodell in Bilt’s leadership is publicly known. There are no significant inaccuracies or misleading statements, and the article provides a comprehensive overview of Bilt’s new offerings aimed at easing financial burdens for students.

Balance

The article predominantly presents the perspective of Bilt Rewards and its CEO, Ankur Jain, highlighting the benefits of the new program without much critical analysis or opposing viewpoints. While it effectively communicates the intended advantages of the program, such as easing financial burdens and building credit for students, it lacks input from independent experts or critics who might provide a different perspective on potential drawbacks or challenges. Including such viewpoints would enhance the balance and provide a more rounded understanding of the program's implications.

Clarity

The article is well-written, with a clear and logical structure that makes it easy to follow. It effectively communicates the key points about Bilt's new offerings, using straightforward language that is accessible to a general audience. The tone is neutral and informative, focusing on the factual details of the program. The article's organization, with distinct sections covering different aspects of the program, contributes to its clarity and helps readers understand the various components of Bilt's initiatives.

Source quality

The article cites credible sources, including statements from Bilt's CEO and references to data from the Department of Education. The involvement of high-profile individuals like Ken Chenault and Roger Goodell lends additional authority to the information presented. However, the article relies heavily on company-provided information, which could introduce a bias. While the sources are authoritative, incorporating independent expert opinions or third-party analyses would strengthen the overall source quality by providing a broader range of perspectives.

Transparency

The article provides clear information about Bilt's new programs, including details about how the points system works and the partnerships involved. However, it does not disclose any potential conflicts of interest, such as financial ties or incentives for promoting Bilt's services. While the basis for the claims is well-explained, greater transparency regarding the relationship between the publication and Bilt Rewards, if any, would enhance the article's credibility. Additionally, explaining the methodology behind the program's projected benefits would provide readers with a clearer understanding of its potential impact.