Pilot Training
Financing Options
PILOT TRAINING - FINANCING OPTIONS
As a leading flight school in Mesa, the team at the UND Aerospace Foundation understands that pursuing a career in aviation can be a significant financial investment. That’s why we strive to ensure our students understand their options when it comes to acquiring financing aid to help them achieve their dream of becoming a pilot.
We want to first mention that the journey to secure financing for flight training should be a carefully considered process and not necessarily a quick decision. Borrowing money is oftentimes both a personal and family decision. Each individual needs to consider their own circumstances carefully. While not all families have the financial capability to provide assistance or act as co-signer, it may be worth considering.
We also understand that assistance from family may not be an option for everyone. Additional options may include working with your personal financial institution or perhaps even your local Credit Union. Often, the relationship you have with your financial representative can be helpful in securing a personal loan to finance your flight training.
Get A Sallie Mae Student Loan
Another attractive financing option is a loan from Sallie Mae. Sallie Mae is a leading provider of private student loans and has been helping students finance their education for over 40 years. At the UND Aerospace Foundation, we have partnered with Sallie Mae to provide students with access to financing options that may suit their financial needs.
Applying for a loan through Sallie Mae is fast and easy, with no application fee. Here are some of the benefits of a Sallie Mae loan:
No application fee or prepayment penalty
You won't be charged any fees for applying for a loan or paying it off early.
Repayment options tailored to your ability to pay
Sallie Mae offers a variety of repayment plans, including deferred, interest-only, and immediate repayment options, so you can choose the plan that best fits your needs.
A comprehensive loan to cover all of your flight training expenses
A private student loan from Sallie Mae can be personalized to cover all the costs associated with your flight training, such as tuition and fees, books and supplies, transportation, accommodation, and other necessary expenses.
Choose between fixed and flexible interest rates
Sallie Mae offers both fixed and variable interest rates, so you can choose a rate that works best for your budget.
Credit counseling
Sallie Mae representatives also provide free credit counseling to help you make informed decisions about borrowing and managing your finances.
Other Financial Aid Options
For those who are looking to enroll in our collegiate flight training program in partnership with Chandler-Gilbert Community College, (CGCC), there are a variety of loans, grants, scholarships, and Federal Work-Study programs available to help you fund your training.
However, you must pass the qualification criteria to be eligible for most of these financial aid programs, with the exception of scholarships, which are mostly awarded to students with special abilities or talents.
We suggest consulting with a financial aid representative at CGCC to help you understand your options and determine which is best for you. They can also assist you through the application process to maximize your chances of receiving financial aid.
If you do take out a loan to finance your pilot training, you will be required to repay the loan in full with interest. As such, it’s crucial to have a solid plan for paying off your loans after graduation or as stipulated in the loan agreement to avoid accruing excessive debt.
Final Thoughts
At the UND Foundation Phoenix flight training center, we are committed to helping you make your flight training dreams a reality. We understand that financing can be an obstacle, so we have created a flexible pilot training curriculum where you can complete your training in one shot or in stages with logical starting and stopping points.
This means if you’re not afforded the full amount to cover your entire flight training when applying for financial aid, you can still pursue your pilot training as you look for additional financing. This gives you the flexibility and freedom to attend flight training at your own pace while still achieving your end goal of becoming a licensed pilot.
If you have any questions about financing your flight training, don’t hesitate to reach out to us. We look forward to helping you take the skies!