Bilt Rewards now lets you pay your student loans with points

Bilt Rewards, a points program best known for its Mastercard backed by Wells Fargo, lets people earn rewards on rent payments, which are often their largest monthly expense. Now, the company is trying to help make a dent in its customers' next largest expense: student debt. 

On Wednesday, Bilt announced members can now use their points to pay off their student loans, with a redemption value of $10 for every 1,000 Bilt points. Eligible providers include Nelnet, Mohela, Sallie Mae, Aidvantage, and Navient, but Bilt said it would add more loan services in the coming months. Members can redeem their points toward eligible payments directly through Bilt's website or mobile app. 

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Student debt is now the second-largest category of consumer debt in the US, just after mortgages; Black and Latino students carry a disproportionate amount of ...