To become a professional pilot, you’ll need at least 1,500 hours of flight time and various certifications. You would also need licenses. All of these can come with a hefty price tag.
Fortunately, you don’t have to deposit the funds upfront. Many options are available that will assist you in this journey of flight training. This blog will take you through the best available options.
Low-interest credit cards
Credit card payments are one of the most popular flight training payment methods. Getting a credit card is easier and faster than getting a loan. Some companies offer no-interest credit cards for their promotions. You need to look for such companies; it’s like borrowing money for free within a specified time. If you can’t find these credit cards, the best way out is low-interest credit cards.
Flight training scholarships
Many flight schools offer scholarships or pilot training financial aid to assist their students financially. Most students are unaware of these scholarships, so these scholarships have fewer applicants than those open nationwide. This increases your chances of getting funds with little hassle.
Federal Pell grants
A federal grant is financial assistance provided by the government. Students eligible for the Pell Grants can use this to pay for their flight training. This grant is credited to a student annually. Pell grants are similar to scholarships, where you do not need to repay. You can benefit from this grant for a maximum of six months. It is also one of the best pilot training financial aid available that you can avail.
Personal loan
It would help you in the future if you were careful while taking a loan for your flight training. The loan will be worthwhile if you are sure about making a career in aviation. You can also complete your training quickly by training to your full potential. Aim to complete your training within two years from the time you started. If you are pursuing flight training not for professional reasons, taking a loan is not advisable; save up for your training expenses.
Career training smart option student loan
These kinds of loans are for technical training that doesn’t grant a degree. In short, you can use this loan for your flight training. Typically, this kind of loan has lower interest than a credit card. This makes it a better option than credit cards. The interest rates in this loan may vary throughout the loan duration. You must get advice from a finance professional in order to make the right decision.
To conclude
If you are sincere about becoming a pilot, financing your training is a significant milestone. So, choosing the most suitable loan that will be manageable for your pocket is the way forward. Apart from loans, plenty of pilot training financial aid is available for your assistance.
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