Originally Posted by
F172Driver
Hey guys, I got another question im hoping to get some help on. Im trying to put together a packet or at least a sheet with some ways to finance flight training for prospective students. So far im trying to call all the local and major banks and im having some luck with banks willing to consider loans for flight training. Im just now getting into the Federal Student Loan Program to research that. Also I've been over pilotfinance.com. If anybody else has any ideas or if your flight school has some kind of way to help students finance flight training I would greatly appreciate any help. Thanks in advance everybody.
I didn't plan it this way but it sure worked out.
I enlisted in the USAF in 1988 and signed-up for the GI Bill. At the time, it was $100 from your paycheck for 12 months and they matched it with $800. I'm not sure what it is now. Anyway, I finished my bachelor's degree in Computer Science while I was in the military. They paid 75% tuition. I had to pay the other 25% and cover the books.
After I got out of the military, I started my Master's Degree and used my GI Bill to finance that. Then I went to flight training at FlightSafety Academy. Again, I used my GI Bill. It got me all the way through to my CFI and then I finally ran out of money.
I forked over the bill for my CFI-I and MEI.
I never had to use a credit card or call on a bank. I didn't have to borrow from my family either. I didn't owe anything when I was done.
Like I said, I hadn't planned it to go that way but it sure worked out. Also, I had my Private Pilot while I was in the military and I would fly co-workers around, splitting the cost 50-50, of course, and built my x-country time.
So, I served my country and in a way my country paid me for my service.
Consider it...it's not a bad way to go...flying will still be there when you get out.
Jeffrey