Flight Training Finance
Would you like to finance your Private Pilot or Instrument training? Everything you need is right here!
- Easy Application Process
- Quick Turnaround Time
- Serving over 1000 Schools Nationwide
- Helpover over 6000 pilots
Have questions? We are here to help.
FAQ's
Flight Training Finance’s (FTF) programs are designed for part-time fixed-wing private pilot or instrument training. Under certain circumstances, FTF can also accommodate advanced, rotorcraft, and sport pilot training.
The repayment terms are determined by the number of lessons per week (on average) the student would like to take. Repayment terms range from 18 months for our most accelerated programs with 5 lessons per week to 72 months for programs with only 1 lesson per week. Most of our customers use programs with 2-3 lessons per week and repay over 48-60 months.
| Training Schedule | Repayment Terms |
|---|---|
| 1 lesson per week | 72 months |
| 2 lessons per week | 60 months |
| 3 lessons per week | 48 months |
| 4 lessons per week | 30 months |
| 5 lessons per week | 18 months |
You can finance commercial and advanced programs as long as the training fits within our program guidelines and you can afford the monthly payment amount.
If you need a succession of ratings, you should look ahead and know how your payments could increase – and whether you will be able to qualify. While we welcome new business, we strive to avoid transactions that appear likely to leave you “stuck” in your training cycle. We do not want you left in a situation where more training is needed to achieve a commercial or career goal, but you are financially unable to continue.
You can finance helicopter programs as long as the training fits our program guidelines and can afford the monthly payment amount.
If your training is to be used for a commercial endeavor, consider how your payments could increase with additional training – and whether you will be able to qualify. While we welcome new business, we strive to avoid transactions that appear likely to leave you “stuck” in your training cycle. We do not want you left in a situation where more training is needed to achieve a commercial or career goal, but you are financially unable to continue.
You can finance sport pilot programs as long as the training fits our program guidelines. Sport pilot programs are often fewer hours than full private pilot programs.
When considering your application, we look to answer two simple questions: “can you afford the payments?” and “will you make the payments?”
We want to see that you can “easily afford” the monthly payment. You should have sufficient income to pay your current living expenses and the monthly payment for your flight training. While we welcome new business, we do not want to overburden you financially.
Flight training financing is not secured like car financing or home mortgages. You pay us back because you have promised to. If you have gone through financial difficulties but have since resolved these issues, we see that as a very good thing. However, if you have unresolved delinquencies, defaults, or seem overburdened with debt, it is unlikely we will approve your application.
Institutions that previously offered financial assistance to prospective flight students, such as Sallie Mae and Key Bank, have stopped financing flight school programs or limited their offerings. There may, however, be select alternative options available.
Institutions that previously offered financial assistance to prospective flight students, such as Sallie Mae and Key Bank, have stopped financing flight school programs or limited their offerings. There may, however, be select alternative options available.
(The following link, while not endorsed or vetted by Flight Training Finance, does seem to discuss some of the best options for getting training funds.)
https://www.aviationschoolsonline.com/faqs/top-10-flight-training-financing.php
We are committed to offering you as much information as possible about paying for your training.
Title IV flight schools, colleges, and universities are usually eligible for federal student loans and grants. Though we don’t have a list of current schools eligible for these payment options, you can read more about Title IV financial assistance at the following link.
Additional funding options can include a home equity line of credit (HELOC), a high-limit, low-interest credit card, the Post-9/11 GI Bill, or a private loan from a local bank.
https://www.aviationschoolsonline.com/faqs/top-10-flight-training-financing.php
All Flight Training Finance programs clearly state that you may terminate your training at any time for any reason! Your school and Flight Training Finance warrant this right. Both of us guarantee a refund of any unused training funds at the time of your termination.
The refund is credited to your Flight Training Finance account balance. You will never have to pay for training services you did not receive! We are proud of the way our programs protect our students.
This is a significant risk consideration for flight students. You should be careful of programs where the flight school controls a substantial amount of the training. Ensure that the financial institution guarantees an immediate credit refund is available when a training program is terminated, regardless of the reason for termination.
If funds are left over after training is completed, you have several options: 1) use the remaining funds to rent aircraft and build hours; 2) use the remaining funds to take additional training, or 3) elect to terminate your program and have the unused training funds credited to your Flight Training Finance account to reduce your remaining monthly payments.
PLEASE NOTE: All training funds may be fully used by the flight school where they have guaranteed certification and/or committed to providing free “finish-up” training if needed. Ask your flight school if you are concerned about this issue.
You can apply for “add-on” or “finish-up” training provided that 50% of the payments on your initial account are satisfactorily paid. To avoid running short of training funds, we strongly encourage students and schools to package training programs that will be entirely sufficient to achieve the training goal. Most of our schools add a “cushion” of additional aircraft and instruction hours because many students need more hours than they anticipated initially.
Please note that additional training may have to be paid from other resources. For most transactions, unused training funds cannot be forfeited.
The repayment terms are determined by the number of lessons per week (on average) the student would like to take. Repayment terms range from 18 months for our most accelerated programs with 5 lessons per week to 72 months for programs with only 1 lesson per week. Most of our customers use programs with 2-3 lessons per week and repay over 48-60 months.
| Training Schedule | Repayment Terms |
| 1 lesson per week | 72 months |
| 2 lessons per week | 60 months |
| 3 lessons per week | 48 months |
| 4 lessons per week | 30 months |
| 5 lessons per week | 18 months |
Our contract interest rates range from 12%-18%, depending on the student’s qualifications. Generally, a student’s interest rate will be somewhat lower than they might pay on traditional credit card accounts.
Our Preferred Customer Interest Refund Program is a simple way for students to earn back up to 25% of their interest. Suppose the student makes all of his or her payments on time. In that case, the interest will be recalculated 3 percentage points lower than their contract rate, and we will refund them the difference. The effective interest rates charged work out to between 9%-15% for customers who make their payments on time.
For the private pilot and instrument programs we finance, a typical “full” training program includes 55-65 hours of aircraft rental.
Because financing “add-on” or “finish-up” training will likely not be available, program sizes must be fully sufficient to achieve the training goal.
Yes, you can change flight schools. There is no financial penalty. However, there are some considerations you should be aware of if you wish to switch schools for any reason.
Flight Training Finance programs allow you to terminate your training for any reason and receive a refund of unused or undelivered training services. However, our finance transactions are purchased by you, a specific student, at a particular school. Your financed training funds are the property of the flight school from which you purchased your training program until you exercise your right to terminate that program. Therefore, to switch schools, you need to: (a) terminate your existing program and (b) apply with the new flight school to finance your remaining training. Flight Training Finance will combine your two accounts into one. This process typically takes less than one week.
No. There is no prepayment penalty. You will be refunded any unearned interest for paying off your account early. Interest rebates, or refunds, for early payment in full (referred to as “prepayment”), is determined by the finance regulations in your state. The calculation varies slightly from state to state.