The frustration of funding flight training

[Guest rotorflyr84]

Just have to vent, but it seems damn near impossible to get an approval for a loan to fund flight training. Anyone heard anything of some good lenders. I already went through SLM, and was approved for the first half, but then denied the 2nd half. I was denied with AOPA. My next option is speaking with a Financial Aid advisor at UVU. I just can't fathom how hard it is to even get started in this occupation. Sorry for the vent, but if anyone has any tips or resources they're willing to share, I'm all ears. I would love to hand over cash, but honestly, no matter how hard I tried right now, that's not even a possibilty. Thanks all!

[apiaguy]

I understand your frustrations.... alas I cannot sympathize...

If the helicopter industry were not so brutal and so many drop out and not repay those loans there would be more lenders willing to offer up $$.

As a person people consider to have money I have often thought about supporting pilots in their persuits to become what they desire. Time seems to support the conclusion that there is little money in the industry to pay off a heafty loan unless the person has real ability to manage their finances. Unfortunately, that description does not fit the most common person trying to become a helicopter pilot (early 20-somethings).

So as a lender... what can U offer as a guarantee of repayment? When the answer is nothing... how can you expect anything more? Get a job and start saving.

[HeloJunkie]

Just have to vent, but it seems damn near impossible to get an approval for a loan to fund flight training. Anyone heard anything of some good lenders. I already went through SLM, and was approved for the first half, but then denied the 2nd half. I was denied with AOPA. My next option is speaking with a Financial Aid advisor at UVU. I just can't fathom how hard it is to even get started in this occupation. Sorry for the vent, but if anyone has any tips or resources they're willing to share, I'm all ears. I would love to hand over cash, but honestly, no matter how hard I tried right now, that's not even a possibilty. Thanks all!

 

 

Rotorflyr84 -

 

Take a look at this POST - I wrote about it and MAYBE it might be of help to you. Using them, I have loaned several folks part of the $$ necessary for flight training. Depending on where you are at in the US, it may not work for you. Worth looking into however.

[K-38]

The US Army will pay you to train.

[Guest rotorflyr84]

The US Army will pay you to train.

 

I would love to go this route, but I have asthma, and that disqualified me.

 

I even looked into the Army National Guard, but from what I've been told, the requirments are still the same.