Tag Archives: student loan

How to pay for your flight training?

Ever since the US economy went haywire in mid 2008, it has been almost impossible for most us here in the US to obtain a student loan to pay for the flight training. It used to be much easier before. There were various options available to most; like the Sallie Mae, US Bank, Bank of America. Most banks would finance professional pilot training against the applicant’s credit.

Flight Training Loan

Flight Training Funding

Since 2008, things have changed a lot. Now one may walk in with an excellent credit, but still no student loans. Banks look at the borrower’s ability to repay the loan back in a new light. Not only credit, but job availability and potential future income are considered as well.

No bank loan means no chance at being able to afford flight training? It should not be like this. And really, its not. Back in the days, in 80’s when we trained, there were really no bank loans around. We would simply save up money by working various jobs and then go and spend it at a flight school. In my case, it took me 4 years to go from student pilot to Flight Instructor. This was the downside. The upside was that I walked away as a CFI with no student loan to pay off over the next 15 years.

During my career as a flight instructor, I have trained many others in my shoes. Most are airline pilots now. And many had odd jobs to earn the money for their training.

What if I show you how you can earn the money and pay for your flight training cash, and be a Commercial Pilot within a year’s time? And no student loan needed. Would this get your interest?

5 Questions you should ask yourself before starting Flight Training

Have you been thinking about learning to fly an airplane? Or have you thought about it in the past? How about, have you ever dreamed about piloting an airplane? If you answered yes to any of the above questions, then go ahead and read on.

Learning to fly an airplane is fun, easy, and a mission possible in most people’s case. Here, read the questions below that you should ask yourself if you ever considered learning to fly or getting yourself a pilot’s certificate.

1. Motivation – What do I need to learn how to fly for; pleasure, business or as a career?

2. Location –Where should I go get my flight training done?

3. Source – What type of flight training provider would be best for me?

4. Scheduling – Full time, part time, formal or informal, what type of scheduling would work the best for me?

5. Financial – How am I going to pay for my training? Would I need financial aid, student loan, personal loan, or some other type of financial assistance?

The reason you should ask these questions to yourself is because it helps you chose the right program, and also helps you understand the budgets and time / effort commitment required. I’ll give you some ballpark numbers here to think about:

If you want to learn how to fly for pleasure, you are looking at about a total of 60-70 hours of flight training time, and about 40-50 hours of ground studies, and to get the best bang for the buck, you should expect about 10-12 hours of training time per week. If it is for pleasure, then you really can simply take the training at your own convenience, or go to one of those vacation / accelerated training places with or without your family. Cost of the training will depend on many variables, like when, where and which aircraft. But for most people, you are looking at about $6000 to $10,000 price range. Of course, there are ways to make it cheaper as well as luxurious and high end as well.

For business reasons, the basic training as above is still required, but what changes is the motivating factor, and possibly some tax advantages, both for training and then actually renting / owning an aircraft and the related cost factors (operating expenses).

As a career? Well, now that is a very detailed topic, I can write a few books on it. Write me an email for any specific questions, and subscribe to this blog (RSS Feed). I write about all this here just about everyday. So read and educate yourself. Here, read these 2 posts for starters: Top 20 Career Options as a Pilot, and 101 General Aviation and Flight Training Scholarships.

Where to get your flight training? Options could be: a local flight training school, a flying club, an independent flight instructor (or CFI as we call them), a pilot flight instructor friend, a vacation / accelerated flight training gig, formal accredited flight training institutes, military academies, aviation college or university program, and so on.