Credible takeaways
- Commercial pilots can face costs of about $117,000 to cover the cost of training for flight certification.
- Financing options for flight schools include federal loans for students at accredited schools and private loans for other training options.
- Alternatives to loans include scholarships and grants, while effective debt management requires strategic budgeting and refinancing.
A career as a pilot offers the opportunity to travel the world and make a good living while doing it. Airline and commercial pilots earned a median annual salary of more than $198,100 in 2024, according to the Bureau of Labor Statistics.
But before you can get started, you'll need to get an Airline Transport Pilot (ATP) certificate. If you're starting from scratch with no experience, that can cost you around $117,000, per the ATP Flight School. Loans for flight school are a common way many prospective pilots fund their training.
Current private student loan rates
How to pay for flight school
Flight school loans help you pay for your aviation training if you don't have the money to cover the costs upfront. However, they can differ from traditional student loans. While it's possible to take on federal and private loans for flight school, you can only do so in certain circumstances.
“Flight schools offer loans primarily through private lenders, credit unions, and other organizations. Some might offer federal student loans, but they are in the minority,” says Dan Bubb, a former airline pilot and aviation historian at UNLV Honors College.
Oftentimes, flight schools don't meet the requirements for traditional student loans. So, students typically need to look for private lenders that accommodate career training or certificates or look into financing through the school.
Federal student loans for flight school
Federal student loans from the Department of Education are available to help finance flight school, but eligibility is contingent on the school being accredited, participating in Title IV federal financial aid programs, and offering qualifying degree or certificate programs. For instance:
- A Professional Pilot Science Associate Degree or an Aerospace Sciences Bachelor's Degree from Polk State College
- An Aviation Science Degree from Aviator College
- An Associate Degree in Aviation Science from Orange Coast College
To determine if your school qualifies for federal financial aid, you can search the Department of Education's accreditation database. Below are the federal student loan options and their interest rates for the 2024-25 school year:
Source: StudentAid.gov
You must satisfy several criteria to be eligible for federal student loans. These include being a U.S. citizen or an eligible noncitizen, having a valid Social Security number, enrolling in an accredited degree program at an approved school, and maintaining satisfactory academic progress.
Federal student loan limits
Loan limits apply to federal student loans, such as Direct Subsidized and Unsubsidized Loans. A first-year student who can be claimed as a dependent on someone else's tax return can borrow as much as $5,500, while independent students may have a borrowing limit of $9,500. However, only $3,500 of this amount can be in Direct Subsidized Loans, which are available to undergraduates who demonstrate financial need and include an interest subsidy.
To apply for these loans, students must complete the Free Application for Federal Student Aid (FAFSA).
Note:
Many flight schools do not qualify for federal student loans as they are often classified as trade schools and lack accreditation.
Private student loans for flight school
Private student loans can potentially fund your education if you can't get federal student loans. Unfortunately, your flight school may prevent you from qualifying for private student loans since these loans are typically only available to students enrolled in a four-year degree-granting program.
The good news is that some private lenders offer loans for a certificate- or career-based program, which may allow you to get a loan for flight school. Some loan options and lenders include:
- Sallie Mae's Smart Option Student Loan
- College Ave's Undergraduate and Graduate Career Loans
- Abe student loans for certificate programs
- Meritize student loans for flight school
- ZuntaFi flight school loans
Credible rating
Credible rating
Credible rating
“I strongly recommend setting up an automatic payment plan for your flight school loans. Many lenders offer a discounted interest rate if you do, and it can help ensure you never miss a due date.”
— Renee Fleck, Student Loans Editor, Credible
When comparing federal vs. private flight school loans, be aware that private loans don't have the same repayment options or benefits as federal loans. Private lenders don't offer income-driven repayment plans or loan forgiveness opportunities. You also may be unable to take advantage of deferment or forbearance options.
“Federal loans are preferable because there is much greater flexibility when it comes to repayment,” says Martin Lynch, president of the Financial Counseling Association of America. “Private lenders have not been very creative when it comes to repayment plans that suit the income of their borrowers.”
Most students are likely to be able to get lower interest rates with federal loans, which are set by the government, do not require a credit check, and are the same for all borrowers. Most private lenders determine your student loan interest rates based largely on your credit score and financial history. A creditworthy cosigner could help you get a lower rate on a private student loan for flight school.
Financial aid for flight school
Flight school loans can help you finance your education, but there are worthwhile alternatives to consider.
Aviation scholarships
You can get financial awards through scholarships and grants that you don't have to pay back. Aviation students can look into these:
- Amelia Earhart Memorial Scholarships: Aviation scholarships for females; qualifications vary by scholarship type
- Navigate Your Future Scholarship: Must be a senior in high school and accepted or enrolled in an aviation-related program at an accredited university
- EAA scholarships: Requires a 2.5 GPA or higher; applications open Nov. 1
- AOPA Flight Training Scholarships: Each scholarship has different minimum requirements; applications open Oct. 6
- Lyons Aviation Foundation scholarships: Offers $1,500 minimum and up to the entire cost of a private pilot certificate
- National Business Aviation Association (NBAA): Available to college students studying aviation
“Students can go to the Federal Aviation Administration's website to see which scholarships and grants are available, in addition to doing an Internet search to find out which private foundations offer scholarships and grants. Flight schools also might have scholarship and grant information,” says Bubb.
Do airlines pay for flight school?
It's possible for airlines to reimburse you for a portion of your flight school tuition. These are some airlines that offer the incentive:
- Alaska Air Horizon Air Pilot Development: $12,500 flight training stipend
- Frontier Pilot Cadet Program: $20,000 in bonuses, including a $1,000 monthly stipend while training
- American Airlines Envoy Air Cadet Program: $15,000 sign-on bonus
- American Airlines PSA Airlines Cadet Program: $15,000 stipend
- United CommuteAir Pilot Development Program: Up to $20,000 in retention bonuses after 2 years of training
- Republic Airways: $25,000 bonus after 2 years of training
FAQ
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