Flight School Loans Available for AIrline Pilot Training

Flight School Loans Discover Student Loan Options for Pilot Training

Fund your pilot training and launch your career as an airline pilot with access to full financing through ATP's lending partners.

ATP Flight School students can take advantage of Sallie Mae's lowest-rate undergraduate student loan product, thanks to the strong track record of graduates achieving their career goals. This competitive flight school loan covers the entire cost of pilot training for students, plus living expenses, and provides peace of mind with flexible repayment options, including deferment of loan payments until you're at an airline.

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What Student Loans are Available for Flight School?

ATP Flight School students have access to Smart Option Student Loans® through Sallie Mae, to fully fund career pilot training. With no prepayment or origination fees, this student loan offers flight training students flexible repayment options and competitive fixed and variable interest rates.

Applying with Sallie Mae

Flight school loan features:

  • Multiple repayment options
  • Choice of competitive fixed and variable interest rates
  • No origination fees and no prepayment penalty
  • Benefits and an interest rate reduction available
  • Rates that reward creditworthy borrowers
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Sallie Mae

How to Apply for a Flight School Loan

Here is the loan application process and the steps you can take to apply for a flight school loan:

  1. 1. Review Application Guide

    First begin by reviewing the Sallie Mae application guide in a separate browser tab and reference the guide as you apply for your flight school. This guide will walk you through the application and help you answer the application questions.

    Open the Guide

  2. 2. Apply with Sallie Mae

    Thanks to the strong track record of ATP graduates achieving their career goals, Sallie Mae offers its lowest-rate undergraduate student loan product to ATP flight training students. Reference the application guide and apply for financing directly with Sallie Mae.

    Apply Today »

  3. 3. Receive Your Loan Decision

    You'll receive an answer in about 15 minutes and there's no obligation to accept the loan or begin flight training with ATP once you've been approved.

  4. 4. Speak with a Student Finance Coordinator

    After you receive your loan decision, speak with a Student Finance Coordinator to review your options, learn about affordability and repayment, and map your financial path towards becoming an airline pilot.

Get Your Program Guide » Apply for a Loan »

Take Your First Flight for Free!

Qualify for a FREE flight (valued at $) when your loan application is approved and you are qualified! Applying takes minutes and there's no obligation.

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Complete Guide to Flight School Loans

Get answers to frequently asked questions about financing pilot training and flight school loans, including eligibility, application, and repayment.

Table of Contents

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Eligibility & Application

Can you get a loan for flight school?

Yes, students can get loans for flight school to cover the costs of training. These loans are only available at select flight schools, like ATP Flight School, with a proven track record of delivering career outcomes for their students. Private lenders, including Sallie Mae and Center Parc Credit Union, offer specialized flight training loans designed for aspiring commercial pilots. These loans typically cover tuition, training expenses, and in some cases, living expenses during the program. Eligibility is often based on credit history, and some lenders may offer loans without requiring a cosigner.

Learn How to Apply for a Loan »

Will airlines pay for pilot training?

Yes, some airlines offer financial assistance through airline-sponsored pilot training programs. These programs are offered to ATP Flight School and include tuition reimbursement, cadet programs, bonuses, and financial incentives designed to support students in covering the costs of their flight training.

Airlines Paying for Flight Training »

What criteria are used to determine eligibility for a flight school loan?

Eligibility for flight school loans depends on the applicant’s credit score or financial history. Private loans for pilot training, which may include options for flight training loans without a cosigner, focus on creditworthiness, and some programs consider cosigners to help applicants qualify.

What types of federal and private loans are available for flight training?

Financial aid and federal loans, such as Stafford Loans and Pell Grants, that can be requested through the Free Application for Federal Student Aid (FAFSA) cannot be used to help cover the costs of flight training at ATP. This type of aid is meant to assist students with college coursework. For more specialized training, private lenders such as Sallie Mae offer flight training loans tailored for aspiring commercial pilots at ATP Flight School, often covering full training costs. Airline-sponsored pilot training programs may also provide financial support options.

Airline-Sponsored Tuition Reimbursement Programs »

What information is required when applying for a flight school loan with a cosigner?

For flight school loans, applicants need identity verification (e.g., driver’s license) and income documentation, such as pay stubs or tax returns, for both the applicant and cosigner.

Flight School Loan Documentation Requirements »

Do I need a cosigner to apply for a flight training loan?

A cosigner is not always required, but having one may increase approval chances and improve loan terms. Some flight school loan options offer flight training loans without cosigner requirements for qualified applicants.

Cosigner Prospectus »

What steps are involved in applying for a loan for flight training?

Applying for loans for flight training includes completing an online application, providing identity and income documentation, and selecting a cosigner if necessary. Many applications, like those for Sallie Mae, offer a quick credit decision, often within 15 minutes.

Apply for a Loan »

How long does it take to process a loan application and receive funds for pilot training?

Applying online is easy - you'll receive a credit result in about 15 minutes and there's no obligation to accept the loan or begin flight training with ATP once you've been approved.

Once approved, you'll have the flexibility to choose your preferred loan rate type and repayment options. Accept the loan disclosure, e-sign, and provide any additional requested information to proceed.

Here's what to expect next:

  • School Certification: Your loan will be certified by ATP Flight School, ensuring everything is in order.
  • Fund Disbursement: The lender will send the funds directly to ATP, streamlining the process for you.

The entire journey, from application to disbursement, usually takes 10 business days or less. Enjoy peace of mind knowing that your educational expenses are covered efficiently and effectively.

Get Started »

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Repayment Options

What is a fixed repayment option and how does it work for pilot training loans?

The fixed repayment option is a structured plan that helps you manage your student loan by keeping monthly payments at a steady, affordable rate while you're still in school and during a grace period after graduation.

Here's how it works:

  1. During Enrollment and Grace Period:
    • During your flight training program and six-month grace period, you commit to a low, fixed payment of $25 each month.
    • This payment plan is active while you're attending school and continues for six months after you finish, known as your grace period. This is the time before you begin making full principal and interest payments.
  2. Why Choose This Option?
    • This plan helps reduce the overall cost of your loan by starting to pay down interest early, rather than deferring payments entirely until after graduation.
    • It’s ideal if you want to lower your total loan amount over time and have room in your budget to handle a small monthly payment from the get-go.
  3. Additional Considerations:
    • Opting for this plan typically results in a lower interest rate compared to fully deferred repayment plans.
    • However, any unpaid interest that has accrued will be added to the principal balance at the end of your grace period, which means full payments will cover a larger amount.

This approach helps in reducing the total loan cost and is suitable for those who can manage the $25 monthly payment during school, ensuring they get a head start on paying off their student debt.

Flight School Loan Repayment Timeline »

How does the interest repayment option work for flight training loans?

The interest repayment option on flight school loans offers a strategic way to manage your debt by focusing on covering the interest while you're still in school and during the initial grace period after graduation. This approach aims to reduce the overall cost of your loan in the long run.

  • Monthly Interest Payments: With this option, you'll make monthly payments to cover just the interest while you're a student pilot. This arrangement continues through a 6-month grace period after you leave flight school, which serves as a buffer time before you start paying the principal amount.
  • Grace Period Explained: The grace period is a designated timeframe post-graduation when you are not required to make payments on the principal of your loan. It allows you to transition into a job and begin earning money in your career as a pilot, easing the financial burden during this time.

Choosing to pay off the interest monthly can significantly lower the total interest you'll have to pay over the life of the loan. It suits individuals who:

  • Prefer minimizing the total loan cost.
  • Have the means to afford regular payments during their studies.

Be aware that by choosing this repayment strategy, your monthly financial obligation will be higher while you're in flight school compared to fixed or deferred payment plans. It requires budgeting and financial planning to ensure you can manage these payments consistently.

Flight School Loan Repayment »

What is the deferred repayment option for financing pilot training, and when is it beneficial?

Flexible flight school loan repayment options are available, including deferment of loan payments until your class date at an airline. With a deferred repayment option, you won't need to make your first loan payment until after completing flight school and a 6-month grace period. This allows you to focus on your training without the immediate financial burden of loan payments.

Grace Period Explained: This is a designated period after you leave school where you're not required to start paying principal and interest. It provides a financial cushion as you transition from school to your career.

Who Benefits: If you're looking to maximize your available funds while in school, this option might be ideal. It gives you the freedom to allocate your finances where they're most needed during your educational journey.

Potential Costs: Be aware that choosing this option may result in a higher overall loan cost. Unpaid interest will be added to your principal balance at the end of the grace period, potentially increasing your total repayment amount.

By understanding the details and implications of the deferred repayment option, you can make an informed decision that aligns with your financial situation and career goals.

Deferment Timeline »

What happens to the interest during the deferment period for pilot training loans?

Interest accrues during deferment and is added to the principal balance when repayment begins. This structure allows students to delay payments, but it increases the total cost of pilot training loans.

What are the potential drawbacks of deferred repayment for pilot training loans?

Deferred repayment increases total loan costs due to accrued interest. It’s a flexible option in the short term, yet important for flight school students to budget and consider carefully.

Who might benefit from deferred repayment when financing pilot training?

Deferred repayment is ideal for students unable to make payments during training. It gives time to build a pilot career before entering full repayment.

What is a grace period for loans for flight training, and when does repayment begin?

The grace period allows students six months post-training before payments begin.

Flight School Loan Repayment Timeline »

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Interest & Rates

How do fixed and variable interest rates differ for flight training loans?

Fixed rates remain stable, while variable rates fluctuate with market changes. Both options are available for flight training loans, allowing student pilots to select based on their need for payment stability or lower initial rates.

What are the fixed and variable interest rates available for pilot training loans?

Interest rates vary based on the borrower’s credit profile, with competitive fixed and variable options available. These terms are particularly relevant in loan agreements for pilot training loans. Applying is quick and there's no obligation to discover your loan options.

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What is the meaning of APR (Annual Percentage Rate) for flight school loans?

APR, or Annual Percentage Rate, represents the yearly cost of borrowing, including interest, fees, and other charges. It’s a key metric for those comparing flight school loans to understand the true cost of financing.

Learn About APR »

What are the specific ranges for variable interest rates on loans for flight training?

Variable interest rates generally start lower than fixed rates but adjust over time based on the market. Loans for flight training provide variable rate options that are detailed in loan disclosures.

What are the specific ranges for fixed interest rates on loans for flight training?

Fixed-rate loans offer stable, predictable payments, with ranges based on the applicant’s credit profile. This predictability appeals to those planning for consistent monthly payments.

Get Your Program Guide » Apply for a Loan »

Cosigner Information

What should be known about cosigning a loan for flight training?

Cosigning a loan makes the cosigner equally responsible for repayment. ATP's lending partner Sallie Mae offers a cosigner release option, after a set number of payments, helping students eventually manage flight training loans without a cosigner. When you're considering cosigning a flight school loan, there are a few important details to keep in mind. Here's what you need to know:

  • Credit-Based Approval: Flight school loans from private lenders are typically based on creditworthiness. The lender will review your credit history during the application process. This can be a crucial deciding factor for approval.
  • The Role of a Cosigner: A cosigner is usually an adult, often a parent or guardian, with a solid credit profile. By cosigning, they agree to share the responsibility of repaying the pilot training loan. This can significantly improve the chances of loan approval, especially if the primary applicant lacks an established credit history.
  • Increased Approval Rates: One of the biggest benefits of having a cosigner is the increased likelihood of approval. Statistics show that students are much more successful in securing loans when someone with good credit cosigns the flight school loan application.
  • Shared Responsibility: Understand that both the student pilot and the cosigner are equally liable for repaying the loan. If the student faces difficulty making payments, the cosigner is legally obligated to cover the owed amounts.
  • Potential for Credit Impact: Both the student and cosigner should be aware that any missed payments can affect both parties' credit scores. It's crucial to maintain a reliable payment schedule to avoid negative impacts.

Learn About Cosigning for a Flight School Loan »

What are the benefits of having a cosigner for a pilot training loan?

When you're a student with little to no credit history, securing a student loan can be challenging. This is where a cosigner can make a significant difference. Here are the key benefits of having a cosigner:

  1. Increased Approval Odds: Students often lack an established credit profile, which can lead to loan application rejections. Having a cosigner with good credit—such as a parent or relative—can significantly increase your chances of loan approval. In fact, students with cosigners are often viewed more favorably by lenders.
  2. Better Interest Rates: A cosigner typically has a strong credit score and history, which reassures lenders of reliable loan repayment. This can lead to being offered a lower interest rate, potentially saving you a substantial amount of money over the life of the loan.
  3. Credit Building Opportunity: By making timely payments on your student loan, you can build your own credit history. This proactive approach can set the foundation for better financial opportunities in the future.
  4. Access to More Loan Options: With a cosigner, you may have access to a wider range of loan options. Some lenders provide flexible terms and conditions to those who present less risk, opening the door to more tailored financial solutions.

Having a cosigner is not just about getting the loan—it's about creating opportunities for smarter, more cost-effective borrowing.

Explore the Cosigner Prospectus »

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The information provided on this page is intended for general informational purposes only and should not be considered financial or legal advice. Loan availability, terms, eligibility, and conditions are subject to change and may vary by lender. ATP Flight School does not endorse or guarantee any specific loan products mentioned here. Prospective students should conduct their own research and consult directly with lenders to confirm current terms, requirements, and program availability. Contact ATP's Finance team at (904) 595-7946.