Flight School Loans

flight school loans

Flight schools tend to cluster in certain parts of the country, according to an article in The New York Times, as the vast majority of them are located in Texas, Florida, California and Arizona. Here, students can take advantage of a mix of rural and commercial airports in order to learn how to master the controls of an airplane and keep both passengers and cargo safe during the flight. All of these schools may be just a little different, with unique attributes to provide to their students, but they’re all likely to be expensive. Thankfully, flight school loans are available to help students pay for the education they need.

Understanding the Issue

Every time a plane leaves the ground, a trained pilot should be at the helm. These professionals know how to keep a plane in the air, and they know how to steer the plane without hitting any other aircraft or stationary objects. In short, pilots are vital, but they’re also in short supply: the Federal Aviation Administration suggests that the number of pilots in training has shrunk by 2.8 percent between the years 2000 and 2009.

Since pilots are so necessary and there are fewer people stepping up to fill the role, there are a number of grant programs and scholarships open to students in need. These programs allow students to go to school on money provided by an outside entity, and the students aren’t required to pay a dime of that money back. For many students, this is an attractive option. It’s common for grants and scholarships to be small, however, so they may not cover the complete cost of attending flight school.

Those facing a gap between any “free money” aid they’ve received and what they can contribute themselves may be interested in federal student loans, as these loans come with attractive interest rates and flexible payback options that can take the sting out of borrowing money. However, not all flight schools accept federal loans, and not all students qualify for assistance on the federal loans.

 

Types of Student Loans