Does anyone know if any of the regional or major commercial airlines have loan repayment programs for pilots? I have a strong interest in flying and I'm looking for help in financing flight school, so any advice would be greatly appreciated. I'm looking to go to ATP's flight school. Would FAFSA help with flight school? I'd love to hear from some pilots who have dealt with this before, however like I said ANY advice would be greatly appreciated. Thanks!
Check out the Aircraft Owner's and Pilot's Association website for information on credit lines up to $25,000 for pilot training.
#1 by Marko on June 5th, 2009
Quote
Check out the Aircraft Owner's and Pilot's Association website for information on credit lines up to $25,000 for pilot training.
References :
http://www.aopa.org/info/certified/funds.html
#2 by ju88junkers on June 5th, 2009
Quote
Yes I am sure ATP Flight School offers financial aid (LOANS not GRANTS or SCHOLARSHIPS). My flight school, like many others, have an account with SallieMae and you must take out a career education loan. If you were to go to an accredited college for aviation that offered flight training for your ratings then you would not have to pay back your loans until you graduate and become an instructor. I am sure ATP, Delta Connection Academy, and PanAm Flight School offer the same things. Some people look at these as "fast track to the airlines" schemes and look down upon them but getting ratings is getting ratings. So yes, there are loans available to you for flight training and they can be paid back when you are done and have a job. http://www.jetuniversity.com is another training school which supposively guarantees you a job when you graduate. I don't know how true this is but if you pass their course and your job guarantee is in writing then you are in the clear. I heard if they don't hire you in 9 months then you don't have to pay them for your training. I am sure you could get a lawyer to review the terms and conditions but who knows…..If I were you I would get a college degree in something other than aviation and get your flight training done at an FBO flight school at your local airport for cheap. The FAA doesn't care where you get your ratings.
References :
Student Pilot-Took out a loan