Flight School Loans: How to Pay for Aviation School

While becoming a pilot could be an adventurous career, it can also be expensive. Earning a private pilot’s license can cost anywhere from $6,000 to $12,000, according to the Aircraft Owners and Pilots Association, while a commercial pilot’s license can cost $55,000 to $100,000.

However, there are a few ways to potentially pay for flight school, including student loans.

Many private flight schools aren’t attached to a university and don’t offer degree programs, which makes them ineligible for student loans from most private lenders. However, there are a few lenders that provide private student loans that can be used to pay for flight school and other career training programs.

Sallie Mae

Sallie Mae Career Training Smart Option Loans are specifically designed for students attending non-degree-granting schools — such as flight schools — to earn professional training or trade certificates.

You can borrow $1,000 up to 100% of school-certified cost of attendance with terms from 10 to 15 years.

Pros

• Might be able to borrow up to your school’s cost of attendance
• Available to students attending non-degree-granting schools
• 0.25% autopay discount

Cons

• Doesn’t disclose minimum income or credit requirements
• Rates can be higher compared to other private lenders
• Only two repayment options available

College Ave

If you’re attending a flight school program attached to a college or university, College Ave could be a good choice for a flight school loan. With College Ave’s Career Loan, you can borrow $1,000 up to your school-certified cost of attendance with repayment terms from five to 15 years.

Pros

• Might be able to borrow up to your school’s cost of attendance
• Could earn a $150 cashback reward if you complete your program
• Multiple repayment options available

Cons

• Not available to borrowers attending a flight school not attached to a college or university
• Doesn’t disclose minimum income or credit requirements
• Can’t apply for cosigner release until more than half of the scheduled repayment period has elapsed

ZuntaFi

ZuntaFi is the only major lender that provides student loans specialized for flight school students. You can borrow $5,000 to $100,000 with a 20-year repayment term.

Pros

• Might be able to borrow up to $100,000
• 20-year term can help keep payments manageable
• 0.25% autopay discount

Cons

• Fixed rates not offered
• Long cosigner release period (72 months)
• Only one repayment term available (20 years)

Learn More: How to Take Out a Student Loan

How much does flight school cost?

The estimated tuition for receiving a commercial pilot’s license is $83,995. Keep in mind that this doesn’t include other costs, such as:

• Books and supplies
• Application fees
• Electronic training materials
• Transportation

Flight school programs can last anywhere from a few months to over two years, depending on the school.

Unlike a traditional bachelor’s degree, which will have a big price tag spread out over four years, the potentially six-figure cost of flight school is compressed into a shorter training timeline — which could be more difficult to pay for without a loan.

Check Out: How to Pay for College With No Money Saved

How to pay for flight school

If you need to pay for flight school, follow these four steps:

1. Search for scholarships and grants

Unlike student loans, college scholarships and grants generally don’t have to be repaid — which makes them a great way to pay for flight school. There’s no limit to how many scholarships and grants you can get, so it’s a good idea to apply for as many as you can.

There are scholarships specifically available for students attending flight school and other aviation programs, including:

• Aircraft Owners and Pilot Association flight training scholarships: These scholarships are awarded to high school students, teachers, and adults studying aviation.
• Amelia Earhart Memorial scholarships: These awards worth up to $20,000 in five different categories.
• Boeing student scholarships: Boeing works directly with schools to offer scholarships to over 1,200 students each year. These scholarships are awarded through schools that have direct relationships with Boeing.
• University Aviation Association scholarships: This organization provides several scholarships for flight training worth up to $3,000.

Learn More: How to Apply to College and When You Should Apply

2. Apply for federal student loans and financial aid

If you need to borrow for flight school, it’s usually a good idea to start with federal student loans. This is mainly because they come with federal student loan benefits and protections, such as access to income-driven repayment plans as well as deferment and forbearance options.

Unfortunately, because flight schools are typically viewed as trade schools, they often don’t have the accreditation needed to be eligible for federal financial aid. You can check if your school is accredited using the Department of Education’s database.

If you’re attending an accredited flight school, be sure to fill out the Free Application for Federal Student Aid (FAFSA) to see what federal student loans and other federal financial aid are available to you. The federal student loans you might be able to get for flight school include:

• Direct Subsidized Loans: These loans are available to undergraduate students with financial need. The government covers the interest on subsidized loans while you’re in school.
• Direct Unsubsidized Loans: These loans are available to both undergraduate and graduate students regardless of financial need. Unlike subsidized loans, you’re responsible for all of the interest that accrues on unsubsidized loans.
• Parent PLUS Loans: Parents who want to pay for their child’s flight school education might qualify for this type of loan. PLUS Loans typically have higher interest rates than other federal student loans. They also require a credit check.

3. Finance through the flight school

Many flight schools recognize how difficult it can be for students to get the financing they need to afford their training. This is why a number of flight schools provide financing options to students. For example:

• Airline Transport Pilot (ATP) Flight School has partnered with Sallie Mae to offer the lender’s lowest-rate undergraduate student loan product to ATP students. ATP also works with other lenders to provide loan options — such as Meritize, which offers merit-based lending.
• AeroGuard Flight Training Center allows students to finance the cost of their program through ZuntaFi. Students also have the option to combine their flight training with a degree program so they can be eligible for federal financial aid, grants, and other loans.

4. Fill the gaps with private student loans

After you’ve exhausted scholarship, grant, and federal student loan options as well as explored financing through your school, private student loans can help fill any financial gaps left over.

Before you take out a private student loan, be sure to compare as many lenders as possible to find the right loan for you.

If you decide to get a student loan to pay for flight school, it’s important to consider how much that loan will cost you in the future. This way, you can be prepared for any added expenses. 

Flight school loans: Frequently asked questions

Which airlines pay for flight school?

Several airlines offer tuition reimbursement or sponsorship for flight training. Some of these include:

• CommuteAir
• Envoy Air
• GoJet Airlines
• Horizon Air
• Piedmont
• Republic Airways
• Silver Airways
• SkyWest Airlines

How much money do pilots make?

The median annual wage for airline pilots, copilots, and flight engineers was $211,790 as of May 2022, according to the Bureau of Labor Statistics.

Keep in mind that median wage means that half of all pilots make more than this amount while the other half makes less. The highest 10% of airline pilots, copilots, and flight engineers earned over $239,200, and the lowest 10% earned less than $98,680.

What credit score do you need to get a student loan?

The credit score needed to get a student loan depends on the type of student loan you get.

• Federal Direct Subsidized and Unsubsidized Loans: These loans don’t require a credit check.
• Federal Parent PLUS Loans: To be eligible for a PLUS Loan, you can’t have an adverse credit history. This doesn’t refer to a specific credit score — instead, you can’t have negative information like foreclosure or bankruptcy listed in your credit report for the last five years. If you have an adverse credit history, you might qualify with an endorser (similar to a cosigner).
• Private student loans: You’ll typically need good to excellent credit to qualify for a private student loan. A good credit score is usually considered to be 700 or higher.

Tip: If you can’t get approved for a private student loan, consider applying with a cosigner. Even if you don’t need a cosigner to qualify, having one could get you a lower interest rate than you’d get on your own.

Can student loans cover living expenses?

Yes, both federal student loans and private student loans can help cover living expenses. For example, you could use student loans to pay for rent, utilities, or groceries.

Just be careful to borrow only what you truly need. This way, you can keep your future repayment costs as low as possible.

How do I apply for private student loans?

If you want to apply for private student loans, follow these three steps:

1. Research and compare lenders. Be sure to compare as many lenders as you can to find a loan that suits your needs. Consider not only interest rates but also repayment terms and any fees charged by the lender.
2. Pick your loan option. After comparing lenders, choose the loan option that works best for you.
3. Complete the application. Once you’ve picked a lender, you’ll need to fill out a full application and submit any required documentation, such as pay stubs or tax returns. If you’re approved, the lender will send the information to be certified by your school, after which you’ll receive any leftover money as a refund.