Luckily, there are some options for people who aren't in a position to pay for their training completely out of pocket.
Unlike a traditional college or university, independent flight schools aren't in that same realm of accreditation, and therefor can't use the same federal student aid and grant programs available. But here are three options for people looking for ways to finance their flight training:
1. Pay as you go
I know... this isn't a glamorous option. There's no magic pill here, and no complexity -- simply put, we'll work with you to see what you are able to afford each month, and we'll help to build a training schedule that will fit your budget.
Simple, right? Well, this solution comes with it's own problems, mainly that students who aren't able to attend at least a couple flights and a ground lesson or two each week, tend to have a longer pathway towards their certification. This means if a normal pace student could complete their program in 50 hours of flight time, it might take you 60 or more hours of flight time. This is because if there is more than a few days in between your flight lessons, your skills take longer to develop, you don't see the rapid growth and improvement, and you might even regress a little in your skills. This all means extra cost to you in the long run.
2. Find scholarships / grants
There are organizations, clubs, associations, and other groups that help students who are members to find, apply for, and receive scholarships and grants that they can use towards flight school. And the good news is that many of these scholarships can be used for flight training at either a Part 141 school (larger schools) or smaller Part 61 schools (we're an independent Part 61 school).
The bad news is this usually doesn't cover the entire cost of your program, but this would be an excellent way to supplement your funding of your training.
3. Apply for financing
Even though we aren't a part of the federal student aid program, we still have relationships with lenders so our students can secure private student loans.
You can independently go to any bank / credit union, and apply for a private student loan, or we work specifically with a lender called "Meritize," who is able to approve students who would normally not be able to secure their own financing.
We're able to get financing for students because we've worked directly with the lender to approve our school, organization, airplane fleet, track record or success, and training syllabus. This makes the approval process quicker and easier than trying to get just a generic loan on your own. Whether you're wanting to finance getting just your Private Pilot Certificate, or all the way to Commercial Pilot and CFI, there should be some options for you.
No matter how you decide to pay for your training, we would love to help answer any questions you have and make sure you're pointed in the right direction. Contact us today if we can help in any way!
-Happy flying!
