Bilt now lets members redeem points to help pay eligible student loans. Simply select which student loan to apply points toward in your Bilt account and redeem a minimum of 1,000 points ($10 value). We currently support Nelnet®, MOHELA®, Sallie Mae®, Aidvantage®, and Navient®—with additional student loan servicers becoming available in the coming months.
How does Bilt know my student loan(s)?
- We work with Forward Lending, Inc. (“Method”) to identify your existing student loans. This allows us to use only the information needed to securely display your loan information and enable direct point redemptions to your loans.
How can I use Bilt Points to help pay my student loans?
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You can redeem Bilt Points to help pay your student loans via the Bilt website or the Bilt app.
- Go to the Wallet tab in your Bilt account
- Navigate to the ‘Student Loans’ page
- Tap ‘Find my student loans’ to connect eligible student loans to your Bilt account
- Once your loans are connected, you'll see your eligible loans listed
- Select the specific loan you want to apply points toward
- Choose how many points you want to redeem
I do not want Bilt to have access to my student loans. How can I opt out?
You can opt out of student loan access at any time through the Privacy settings in your Bilt account.
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- Go to the Settings menu in your Bilt account
- Select ‘Privacy settings’
- Tap ‘Instant Link’ and toggle off access
When you opt out, you will disable all instant link functionality, including the student loan point redemption functionality. You can opt back in at any time through the same Privacy settings if you decide to use this feature again.
Is there a minimum number of points I need in order to use this redemption option?
- 1,000 Bilt Points is the minimum redemption amount (1,000 Bilt Points = $10 of value toward your student loans).
What parts of my loan are my point redemptions applied to?
- Bilt Points are applied in this order: 1) outstanding fees or charges; 2) interest; 3) principal.
What lenders/loan servicers are included in this offering?
- Bilt Points can only be applied to certain student loans supported by Method. This includes major federal loan servicers such as Nelnet®, MOHELA®, Sallie Mae®, Aidvantage®, and Navient®. When initiating a redemption, you'll be able to confirm whether your specific loan servicer is eligible.
What if my student loan is not listed in my Bilt account?
- If your student loan is not listed, it's likely that your loan servicer is not currently supported as part of this redemption option. We're continuously working to expand our coverage of eligible student loan servicers, and recommend checking back periodically to see if your loan becomes eligible in the future.
If I have multiple student loans, can I choose which loan to apply my points to, or is it distributed proportionally?
- If your student loans have different servicers, you can choose which specific loan to apply your points to. If all your student loans have the same servicer, you will not be able to choose one specific loan to apply the redemption to.
What if my loan was sold and I still see the old servicer listed?
- The loan information displayed in your Bilt account is obtained from our service provider, Method. If your loan was recently sold or transferred to a new servicer, it may take 30-90 days for this change to be surfaced in your Bilt account.
How long does it take for Bilt Points to be applied to my student loans?
- Most redemptions take approximately three (3) business days to be reflected on your student loan account, but in some cases, it can take up to ten (10) business days.
Can the Bilt Points I redeem toward a student loan payment be refunded?
- Once you have redeemed Bilt Points toward a student loan payment, they cannot be reversed. Redemptions are subject to the Student Loans Pay with Points Terms and Conditions.
Why is my student loan balance not correct?
- The student loan balance shown in your Bilt account reflects the balance reported to credit bureaus as of the last reporting date shown in your Bilt account, which may not capture your most recent payments. For the most current balance information, we recommend checking directly with your loan servicer through their website or customer service.
I've been paying my student loans for years — can I redeem Bilt Points for past payments, or does this only apply going forward?
- Bilt Points can’t be redeemed on past payments made to your loan servicer. You may only apply points toward your student loan payments going forward.
I’m a parent of a student with student loans. Can I use my Bilt Points to help pay their student loan?
- You can only redeem Bilt Points toward student loans that appear on your own credit report. If your child's student loan isn't listed in your name or doesn't appear in your credit profile, you won't be able to apply your points to it.
Do international student loans qualify for this offering? What about loans in currencies other than USD?
- This offering is only available for student loans in the United States / USD.
Can I submit multiple points redemptions at once if I have multiple student loans with different servicers?
- You may only have one active redemption at a time. Once the payment posts to your student loan, you may then submit another redemption.
Do Bilt Point redemptions count toward the minimum requirement on my monthly student loan payment?
- Bilt Point redemptions may not always apply to your minimum payment due. Redemptions can take up to 10 business days to appear on your student loan account, and you may remain responsible for making your minimum payment to your loan servicer by the due date. As a reminder, Bilt Points are typically applied to student loan payments in this order: 1) outstanding fees or charges; 2) interest; 3) principal. We recommend contacting your loan servicer directly for specific details about your payment.