Is financing for you?
If you are unable to train at least one lesson per week, we strongly suggest using financing. Flight training is the most expensive part of flying, once you complete training, you’ll spend far less just using the aircraft. What ever financing program you decide on, plan on being able to pay twice the monthly rate. This will ensure you’ll have enough to pay off training while you get to keep flying.
We’re here to help, and if you have any questions, feel free to contact us.
Financing your flight training is one of the biggest hurdles new students come across. There are a lot of factors to consider when determining what financing option will work best for you. Can you make payments while flight training? Can you get a co-signer? Will you need an unsecured loan?
Everyone has different answers to these questions and so the best option for each individual varies. If you need help figuring out what option is best for you feel free to contact us. Please see below some financing options and type of loans.
Common Student Concerns:
- Pay off financing early (no fees)
- Train 1-5 times per week
- You don’t pay off what you don’t use for training (or use for flying or more training)
- If something happens, and you go over budget, you can apply for more to finish up
- Interest rates 12-18% (get 3% off for making payments on time
- All you need is $250 to get started
Using a 529 Plan
A 529 plan is a tax-advantaged savings plan designed to help pay for education. Originally limited to post-secondary education costs, it was expanded to cover K-12 education in 2017 and apprenticeship programs in 2019. Many people may not realize that you can pay for flight training with your 529 plan.
Some plans may have certain restrictions, so reach out to your financial institution to see if your 529 plan can help pay for your flight training. Learn More…
Secured Loan
For some people, a secured loan may be the best option. A secured loan has relatively low-interest rates and comes in many different forms.
HELOC Loan
If you have more than 20% equity in your home, you may qualify for a home equity line of credit or HELOC. A HELOC is a convenient and often inexpensive way to borrow money. You don’t have to get a HELOC from the company that services your mortgage. You can shop around with any number of lenders. Learn More…
401(k) Loan
Technically, 401(k) loans are not true loans, because they do not involve either a lender or an evaluation of your credit history. They are more accurately described as the ability to access a portion of your own retirement plan money. Learn More…
Unsecured Loan
For students with limited financing options, the best option may be to take out an unsecured loan. By nature, these loans have higher interest rates than secured loans but do not necessarily require any assets to get approved.
Personal Loan
A personal loan is money you borrow for just about any purpose, including debt consolidation, an unexpected medical bill, a new appliance, a vacation, or even a student loan. You pay the money back — including interest — in monthly installments over time; usually two to five years. Most personal loans are unsecured, meaning they are not backed by collateral. Learn More…
If none of these are available to you, Thrust Flight has financial partners that can assist you in acquiring an unsecured personal loan to finance your flight training. Ask our Flight Training Director for more details.
Learning to fly can be expensive. We know this, and we do everything we can to keep flying affordable, but fuel and quality maintenance keep it pricey. Not to worry, we offer financing for flight training.
Flight lessons are most effective when they are done no more than a week apart. Financing makes it EASILY possible to fly 1-3 times per week. This will help you reach your goal much faster, and help you retain what you learned between lessons.
Consider this, becoming a Private Pilot in 3 months would cost about $2,800 per month on average. With financing, you could complete the same training for about $220 per month OR LESS.
Click here for complete financing information or ask us before your next flight to get you setup.
Meritize to provide our students with financing options to fund your education.
With a Meritize Loan, you can get credit for your merit and potentially improve your loan options by sharing your academic history, military background, or work experience.
If approved, full deferment during school is available for certain products.
Check your loan options in minutes without impacting your credit score!
CLICK HERE TO APPLY
Sallie Mae
Smart Option Student Loan for Career Training – Sallie Mae
AOPA, or Aircraft Owners and Pilots Association, is one of the most trusted names in aviation, apply below to see what you qualify for!
Both financing options are used by many flight schools and can get you one step closer to your dream.
Click here to apply!
Take advantage of this open-end, variable-rate loan with terms up to 120 months and amounts up to $40,000.¹
Who is eligible?
Credit Union members and U.S. citizens or permanent residents who
are paying education expenses for themselves or family members.
Click here to apply!
SCHOLARSHIPS
Here is a comprehensive list of all of the scholarships we know of.
There are millions of $$$ given annually for flight training scholarships, a little effort in this arena goes a long way!
Scholarships
- AAERO Aviation
- AOPA
- Amelia Earhart Memorial Scholarship
- EAA
- Leroy W Homer Jr Foundation
- Women in Aviation
- NGBA
- OBAP
- National Aviation Explorer Scholarships
- Civil Air Patrol
- Able Flight
- Museum of Flight
- GOPA
- AVFUEL
- Cessna170
- Cessna195
- Charlie Wells Memorial Scholarship
- Hal Botsford Gift of Wings Fund
- IAC
- IACS
- King’s School
- Mooney Safety
- NATA
- Make-A-Pilot Foundation
Resources
AOPA
AvScholarships