Student Loans Arent the Only Way to Fund Your Training

Student Loans Arent the Only Way to Fund Your Training

Many say the finances don’t add up to being a pilot; there are other ways to fund the pursuit.

fast personal loans near me

If payday loans Florida traditional numbers don’t add up, you might have to use some different methods to get yourself trained. [File photo: Adobe Stock]

Two of the dominant responses to our recent pilot shortage series surrounded the affordability of training and pilot pay entering the workforce. Many experts suggested that the numbers were just off.

For many who decide to go on this worthwhile pursuit of becoming a professional pilot, student loans offer an opportunity to pursue their dreams. Indeed, they seem quite generous. Between private and federal lenders, new students can get almost unfettered access to cash.

But should you fund your training only through student loans? Students attending colleges/universities enjoy the benefit of applying for federal and state financial aid grants (including federally backed student loans) for paying for tuition, books, and other fees. Elsewhere, pilots have options to complete all their flight training with companies that can take you from zero to hero in less than nine to 12 months that covers costs using a personal loan that starts accruing interest (often at significant rates unless collateralized by a home or other assets) with payment schedules that begin the moment the money is accepted.

The Back-Up Plan

The first came at the very start. In the first semester of my freshman year of college, before I even set foot in an airplane, I tore my ACL trying to earn a soccer scholarship. Læs videre “Student Loans Arent the Only Way to Fund Your Training”