Financing - pilotcareer.org

DukeChin · April 20, 2006

Anyone perusing these forums familiar with or currently using pilotcareer.org as their main financier? The school I was considering attending works with this company and was wondering if any of you had any information on them, and how they are to deal with? I had a few questions about their sign-up procedure - mainly that it kind of worries me that 3/4's of their application is to sign up for insurance - and was just wondering if they are the real deal? Any catches? Crazy interest rates?

Also, do you have to sign up for the online college courses to qualify for a loan through them?

I have more questions, of course, but any help / advice would be appriciated!

67november · April 21, 2006

I would say find a aviation lawyer to look it over

lockedcj7 · April 21, 2006

I got 30K through them and have been very happy with it. The only problem is that my flight school doesn't really like it because it costs them money every month. The people you talk to at PCF are very helpful and very nice to deal with.

It's really set up for people who want to go fixed-wing and eventually attend a regional jet academy. If you want to go RW, you have to be willing to game the system a little. My interest rate is less than 7% which isn't bad considering that it's an unsecured loan with no cosigner. (I have good credit and a job that pays reasonably well.) Payment is defferred until you stop training but the interest accrues from day 1. There is no early re-payment penalty and I'm working my buttocks off trying to pay as much as I can so that the interest doesn't eat me alive.

PM me if you want more detail.

John

DukeChin · April 22, 2006

Excellent - thanks for the replies guys. I'll shoot a PM to you later tonight/tomorrow, Lockedjc.

Good to know they're on the up and up. If anyone else here has had dealings with them, feel free to pipe in. I think the most worrisome part about making the jump to flight school, for me, has been the financing part.