Flight Training Loans: How to get Flight School Financing

scott.fank • Nov 30, 2021

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a certified flight instructor and a student pilot in the cockpit of an airplane

Yes, you can! Although flight training can be expensive, don’t be discouraged. There are a wide variety of financing options, including student loans, available for flight training. Some options are available specifically for college students or veterans. Still, even if you do not fall into one of those categories, there are many forms of financing for flight training.

Ready to fulfill your dream of becoming a pilot? Here is an overview of some of the primary financing options available.

What Flight Training Loans are Available for College Students?

College students may have access to federal student loans. You can fill out a  Free Application for Federal Student Aid (FAFSA)  as a college student. There are no income limits to fill out a FAFSA, and although some aid is based on financial need, other forms of aid (such as unsubsidized loans) are not.

The following types of federal aid are potentially available for college students:

  • Direct Subsidized Loan: If you are an undergraduate student with financial need, you may qualify for a direct subsidized loan. The federal government usually pays the interest on the loan while 1) you are enrolled at least half-time in a qualifying undergraduate program and 2) during your student loan grace period after graduation.
  • Direct Unsubsidized Loan: This type of loan is available to undergraduate and graduate students even without financial need. You can borrow the maximum annual limit or your school’s cost of attendance, whichever is less. Unlike a subsidized loan, the federal government will not pay for any of the interest.
  • Direct PLUS Loan: Parents of college studentscan utilize this type of loan to pay tuition on their children’s behalf. A credit check is necessary to qualify, and the federal government does not pay for any of the interest.
  • Federal Pell Grant: Unlike a loan, Federal Pell Grants do not accrue interest and normally do not need to be repaid. According to the  U.S. Department of Education , these grants are “usually are awarded only to undergraduate students who display exceptional financial need and have not earned a bachelor’s, graduate, or professional degree.”
  • Work-Study: Federal work-study programs provide government-funded part-time jobs for qualifying students with financial need.

Unfortunately, because flight schools are usually viewed as trade schools, they often do not have the accreditation needed to be eligible for federal financial aid. Federal financial aid is only available to accredited colleges.

However, J.A. Flight Training is an approved training location for Liberty University’s Flight Training Affiliate Program. This means that federal financial aid, such as Direct Loans and PLUS Loans, are available to Liberty University students who enroll in the Flight Training Affiliate Program.

See the Liberty University website for detailed information about the cost of attendance and financial aid.

In addition to federal student aid, there are many private student loans available to college students. For example, ZuntaFi is a major lender that provides student loans specifically for college students enrolled in flight school.

Private loans can be used instead of federal student aid or as a supplement. Unlike federal loans, private loans vary widely in eligibility requirements, interest rates, and repayment terms. Be sure to research private loan options carefully in order to obtain the best terms for you.

What Flight Training Loans are Available for Veterans?

G.I. Bill benefits are available to qualifying veterans and their family members to help pay for college, graduate school, and training programs.

J.A. Flight Training accepts the G.I. bill for all flight training offered after obtaining a Private Pilot License (PPL). This typically covers 85% of the cost of all pilot ratings after earning a PPL. In other words, eligible veterans can save up to 70% of the cost to become a commercial airline pilot.

For those wishing to obtain a bachelor’s degree and all the flight ratings, Liberty University offers Veteran Benefits, including financing, tuition discounts, and credit for military experience. You can qualify as Active Duty, Reservist, National Guard, Veteran/Retiree, Current Department of Defense Employee, or Spouse of Service Member/Veteran/Retiree. For more information, visit Liberty University’s website.

What Flight Training Loans are Available for Other Students?

Not a college student or a veteran? There are still plenty of loans available to fund your attendance at flight school. Here are some examples:

  • AOPA Finance offers loans up to $30,000 for private instrument and multi-engine ratings. Check terms and apply online at https://finance.aopa.org/flight-training-finance.
  • BHG ProLoans provides private loans of $20,000 to fund up to your entire Career Pilot training cost, with 24-hour approval and terms up to 10 years.
  • Meritize Platform offers financing options for students at J.A. Flight. Check your loan options in minutes without impacting your credit score at https://apply.meritize.com.
  • Sallie Mae Career Training Smart Option Loans are designed for students attending non-degree-granting schools to earn professional training or trade certificates. This can include flight schools. Funding is available for up to 100% of school-certified expenses.

What Scholarships are Available for Flight School?

Some flight school students can qualify for scholarships or grants. Scholarships specifically for aviation students include the following:

  • The AOPA Foundation awards scholarships in multiple categories, including primary certification, instrument rating, and aviation maintenance technician certification. Scholarship awards range from $2,500 to $14,000.
  • The National Air Transportation Association offers scholarships for certain qualifying students enrolled in aviation programs.
  • Extensive lists of aviation scholarships can be found at FlightScholarship.info and the AOPA website.

In addition, there may be non-aviation scholarships that can be applied towards flight training. For example, Liberty University offers merit-based scholarships and other scholarships which can be used for the Flight Training Affiliate Program. Visit the Liberty University Scholarships website for more information.

Need Help with Financing? Ask Our Team at J.A. Flight Training!

JA Flight Training is one of the fastest-growing flight schools in the Chicago area. Our team has been assisting students for years, and we are ready to help you figure out the best way to finance your flight training. Contact us today to learn more.

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