Discover how to fund your flight training!
With funding the number one worry of any student in flight training, it is important to know your options. While a loan isn't the answer for everyone, there are other choices.
|Aviation colleges and universities provide access to federal financial aid and other alternative lending not available at FANO. Why bother with a degree when all you want to do is fly?
Most airlines and other potential aviation careers require a degree. And with the recent changes in FAA regulations, getting a degree means a decrease in the number of hours mandated to get your ATP.
Wondering why we'd make such a wild suggestion if Flight Academy is not Title IV approved? Would you believe us if we said you could stay right here in New Orleans, traing with us, and get your degree online with UVU?! Moreover qualified applicants would have access to those coveted federal programs.
|2. VA Benefits|
|Through a variety of programs, prior and current members of military service can use their benefits to pursue advanced pilot training. As a VA approved vocational flight training provider, Flight Academy can help you make the most of your benefits. Apply for VA Benefits.|
|3. Your Parent's VA Benefits|
|Conditions apply and not all dependents will be eligible, but some unused military benefits can be transferred to dependents of a Veteran. For more details visit the VA website.|
|4. Scholarships & Grants|
|While not as proliferous as we would all like, there are a variety of scholarships and private grants available for prospective pilots. Here are the top four we can think of: AOPA, NATA, NBAA, and The Ninety-Nines.|
|5. Work Your Way Through Flight School|
|Even if you don't want to take out loans, you can put yourself through flight school. If your budget can accommodate a single lesson a month, you can still make progress on your rating! With one-on-one training, each visit will cover only what you need. And you can study for the written exam at home at your own pace. The Private Pilot rating requires about 30 lessons, so fit them in where you can and follow your dream without neglecting any of your current responsibilities.|
|6. Loan from AOPA|
|The Aircraft Owners and Pilot Association has recently started a financing initiative to help students finance their training with reasonable rates and lump payments. Unlike other pilot financing companies, AOPA pays you up front so that you can use the full funds to pay for your rating in full. There are no penalties for paying your loan earlier, and they have the best interest rates we have found so far. You can find out more and apply online.|
|7. Loan from Pilot Finance|
|Pilot Finance is a private lending company specializing flight training financing only. The amount of the loan and interest rates are based on credit and debt-to-income ratios. There programs are designed primarily for part-time private pilot and instrument students. For as little as a car note, you could be flying 12 times a month for a total of about 24 hours. You can apply with us at FANO or apply online.|
|8. Private Sources|
|Consider private sources such as your bank, credit union, a home equity loan, peron-to-person, family members, and friends. Sometimes the best help is right under our noses. Some players offering personal loans include Prosper and Lending Club.|
|9. Credit Card|
|Open a credit card specifically for flight training. You would be amazed at how many students use credit cards to pay for training. For various reasons, whether its cash back rewards, points for travel, or even a zero-interest introductory period for six months to a year, a credit card could be the right fit. We do not condone this option if you have a history of not being able to pay your debts.|
|Think outside the box. Don't limit yourself to one source of funding if a combination thereof makes more sense.|
Contact us for further information.
Bringing the Dream within Reach
A privately owned company, PILOT FINANCE was started in early 1999 by experienced finance professionals . . . who love flying! Flight training financing is the only thing they do. Their programs give students the opportunity to earn their wings with affordable, level monthly payments.
To apply for a Pilot Finance Loan:
- Option 1 - Email firstname.lastname@example.org for an application. Be sure to include your full name and your mailing address or fax number. They will mail or fax you an application within 24 hours of your request.
- Option 2 - Call PILOT FINANCE at (800) 667-0201.
- Option 3 - Visit Flight Academy of New Orleans’ office to complete an application.
Pilot Finance, Inc.
2101 Waukegan Road, Suite 101
Bannockburn, IL 60015-1836
Phone: (800) 667-0201
Fax: (847) 267-1800
Fly More and Save
Block payments are an easy way to discount your flight training. By putting down a deposit equal to 10 hours of ground instruction and 10 hours of flight instruction, you will receive discounted services for your credit on account.
|Block Discount Rates per Hour|
|Aircraft Rental/Solo Flight||$5|
Since the block deposit is a guarantee to Flight Academy of New Orleans to use our services, it is non-refundable and non-transferable, and discounts are valid for 90 days. After you have spent the credit from your block deposit you may put down another block deposit, or go back to traditional payments. Additionally, you can make your first deposit at any time in your training, even if you started your training on a pay-as-you-go arrangement. Any credit left at the end of your rating can be used for your next rating or for aircraft rental.
Current Rate Sheet: Fly More & Save More!
Contact us for further information.