I've been pursuing every option of achieving my dream of becoming a pilot, and can't find any way to make it financially work. I have been denied 3 loans with a decent cosigner and have no idea what I can do to help with financing. Can anyone help with suggestions? I need all the help I can get here

 

Absolutely, find a job or profession and gradually get your certificates and ratings. There's no hurry and you won't miss anything (in fact, you'll gain a lot more helpful experience). Anyone who is trying to convince you to do it NOW and FAST is someone who is in a position to gain monetarily from you.

 

They probably won't give you loans because they know you can't pay them back on current entry level pilot wages. Nothing personal, the job just doesn't pay enough. I never advise taking out loans for flight training- work then fly, work then fly, work then fly- that's how you do it. You'll do it cheaper, avoid debt, and you'll learn more.

 

Ask Uncle Sam to send you to pilot training if that is a possibility!

 

I think I took about the cheapest civilian route most guys can get. Roughly $60-80k for CFII-MEI, two associates degrees, and a 4 year aviation degree.

I got my private and instrument at a local part 61 flight club while working a part-time gig and taking classes at the local community college. The classes got me associates degrees and took care of two years worth of credits I would otherwise have had to take at the much more expensive university.

While in community college, I searched for universities that offered four-year degrees in aviation for not that much dough. University of Dubuque (Northeast Iowa) was my choice as it was 1.5 hours from home and didn't charge $60k/year. Some scholarships etc. brought my total bill including flight training down to roughly $20k/year for the two years I needed to attend.

I had a little help from parents, but I ended up graduating with $26k in student debt overall. Way better than the $100k student loan debt that some have to face.

tl; dr: Get at least your private at a local flight club, two years of college at a community college, transfer to university to finish. Work as much as you can all the way through.

 

You can do it. Get to know folks at your local airport, let them know your interested. Wash airplanes, fuel airplanes, tow airplanes, hitch rides to flyins. There is a lot of people who are willing to help peoe get their start in aviation, just about everyone in this industry had help getting started. Work on the side and fly when you can. Worst advice is to take a loan and do it all at once. Enjoy every step of the way and don't wish yourself into the next rating it's crucial to enjoy the journey or you might wake up flying what you dreamed and hate being there.


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When I started my flight training, I was not able to get any form of financing. My regular full time job paid the bills, so I took a part time job. All those earnings I put aside. Once I had enough for the private, I went to a small flight school and got my private. Then I saved up for my instrument, and so on. Yes, it took me a bit longer, and in between ratings you should try and go flying to keep your skills sharp. But once you have all your training completed, you won't have to worry about a huge loan payment.