Jump to content

Financial Aide question?

Recommended Posts

I don't have much experience with Pilot Finance. I know they are targeting students who fly part-time - 1 to 5 lessons per week.


I am much more familiar with Sallie Mae. This loan program will enable you to borrow the full cost of your flight training and pay it back over 15 years. Payments can be deferred up to 2 years, which can be really helpful. It is difficult to get a loan with Sallie Mae though unless you have excellent credit and they will most likely require co-borrowers to sign for you. Even then, chances are you still won't get the full loan amount to cover all your costs. Their application form has a lot of financial jargon, so I would have recommend having someone at the flight school go over the options with you carefully before you submit the application.


They are both reputable financial institutions as far as I know. I would check out interest rates on both of them.

Link to comment
Share on other sites

my school is listing Salliemae or pilotfinance.com for financial aide. Can anybody give me any insight into which one is better for flight school? if there is any?


Here's some reading with links to additional reading:






And for cripes sakes don't just have someone at the flight school go over your options with you. They don't know jack about loans and they are trying to sell you something.

Link to comment
Share on other sites

I'd just like to add that this issue has been heavily discussed since the demise of SSH. If you do a search on this forum and JH you will find a wealth of information. With the stumbling economy and uncertain financial future of many institutions it is becoming increasingly difficult to obtain a loan in the full amount for career training. There are alternative means of getting loans from your local banks, as well as small training loans from AOPA. Explore many alternatives and be prepared to have a co-signer who has good credit and assets to back the funding.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...