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Thread: Loans to fly ... help!

  1. #1

    Join Date
    Aug 2012
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    Buffalo, NY
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    Loans to fly ... help!

    I am a student pilot flying out of 9G3 (akron, ny), and I have fallen into the financial trap that is so easy to do ... I've run out of cash to fly! I am looking to get into school, I've applied at Utah Valley University looking to attend in January, I have had a hard time getting into the fall semester. I've also read into Everglades University in Florida, they have a really great curriculum, but they do not have any flight training.
    Couple of questions:
    1. Can I attend Evergades and get loans to fly on the side even though they do not support the flight training portion?
    2. Can I get loans through Sallie Mae or any other lender BEFORE I actually attend college?

    Any tips or help would be great!!!

    Sarah

  2. #2
    FlyingRon's Avatar
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    Aug 2011
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    Nobody in their right mind would loan you money to fly other than through an accredited career program.
    Even those are highly suspect with some very high profile abuses in the for-profit education markets. Not just ponzi-schemers like Silver State, but for-profit schools have a very high percentage of people not finishing the curriculum and an abysmal record of people actually graduating into jobs. All it does is rack up student loan debts to further burden the student and greedily suck corporate profits out of the tax payer's back.

  3. #3

    Join Date
    Sep 2011
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    Never mind him darlin! Keep looking, asking and above all trying. The truth is it has never been easy to get a pilots certificate. If you want something bad enough you can get pretty creative.
    Last edited by RV8505; 08-28-2012 at 06:21 PM.

  4. #4

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    Jul 2011
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    Every year there are $300,000 in available scholarships. Most years a small fraction of that is awarded.
    http://www.youngeagles.org/programs/scholarships/


    If it burns in the belly - you will fly.


  5. #5

    Join Date
    Apr 2012
    Location
    Satsuma, AL.
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    The best way is to really work and go Air Force. But even that route is problematic.
    With the current economic conditions flight training to get thet high paid flying job is not viable.
    Get a good education, earn enough money to be able to afford to fly and then get training.
    You can always work towards a license a little at a time, but borrowing money for it is a poor bet.
    Back in the day when I ran an FBO if a hard working reliable young person showed up to help I would hire them to work and cut grass etc and help out with the cost.
    I ran into one of those guys earlier in the year and he is now a King Air pilot.

  6. #6

    Join Date
    Jan 2012
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    154

    prospective pilot - wanabe

    Quote Originally Posted by redbarron55 View Post
    Get a good education, earn enough money to be able to afford to fly and then get training.<BR>You can always work towards a license a little at a time, but borrowing money for it is a poor bet.
    I agree. Get any job. look around for inexpensive ways to fly and stay in school. If you borrow money now you will never be able to afford the low income starter job that is necessary to gain experiance.

    The best advice is to be ready when the opertunity presents itself. Start studying. Learning is best accomplished outside the aircraft and book learning is inexpensive.

    From an engineer with 30 years airline experiance because I was at the right place at the right time with the right friends. A big Thank You all who helped along the way. Hanging out at the local airport also helps.

  7. #7

    Join Date
    Jul 2011
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    Sarah, one thing I have learned from the Suzy Ormond show is that student loan debt is forever until paid off, even bankruptcy can't clear it, so be very careful.
    And I have read of some very predatory lending schemes to students by private firms where the rates were very high and the terms unfavorable. Some of these may even be touted by a school that gets a kick back.
    So try to avoid a loan, but if you do make sure it is the lowest rate and hopefully by a govt program.

    Perhaps you can get a job at your local airport FBO so as to even get some of your pay in flight lessons or at least receive an employee discount on them.

    Good luck.

  8. #8

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    Sacramento, California, United States
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  9. #9

    Join Date
    Aug 2012
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    1
    Sarah, look up Girls in Flight website and you may get some help with your decisions re your flying. I met Mary Latimer at Oshkosh this July and she is dedicated to helping females reach their aviation goals. Her email is Mary@latimerservices.com or call her at 817-946-7512. Good luck! Kaye Tucker, N1724K. Kbtuc@aol.com if you have any questions.

  10. #10
    Any tips or help would be great!!!

    Sarah [/QUOTE]

    Hey, Sarah

    Check out: Colorado Northwestern Community College

    Address:
    500 Kennedy Drive
    Rangely, Colorado 81625
    United States

    Phone+1 (970) 675-3272
    Fax+1 (970) 675-3330
    Web www.cncc.edu

    In my (35,000+Hrs career aviator) experience of it CNCC is a great little school and Rangely a great spot in which to spend a couple of so years at school. Check out the website and go for it:. B)





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