Flight Training Financing - Top 10 Ways To Get Money For Training

Finding Money for Flight Training

It's the age old problem for anyone interested in pilot training... "how can I get money for flight training?" At Aviation Schools Online, we've been connecting prospective pilots with flight schools for over 10 years, and this same question is always at the top of the list for anyone wanting to learn to fly, either for a career or just for fun. In the past few years, we've seen several major sources of money for flight training completely dry up, including two of the largest sources, Key Bank and Sallie Mae loans. But have no fear, pilot to be, there are still many ways to find money for pilot training. Here, we offer you our Top 10 Ways to Pay for Pilot Training:

1. Attend an aviation college or university that offers federal student loan and grant programs

Aviation colleges and universities are a great path for aspiring airline pilots and commercial pilots for several reasons: most airlines and many other pilot employers require a college degree, federal student loans and grants are available to those who qualify, and the pilot training you'll receive will be top-notch. Colleges and universities that participate in federal financial aid programs are called Title IV schools. Title IV schools are eligible to offer many types of federal loan and grant programs including Pell Grants, Direct Loans, and Perkins Loans. Get more details regarding Federal Title IV Programs.

2. Attend an accredited flight academy offering Federal Title IV Programs

Flight academies are a great alternative to colleges and universities for people who already have a college degree or whose career goals don't require a college degree. Flight academies typically offer accelerated training similar to the military, and can get you to your commercial pilot license in short order. However, not all flight academies are approved and accredited to offer Federal Title IV Programs for student loans and grants, so be sure to do your homework before enrolling. Title IV flight academies are typically approved to offer the same or similar programs as those of Title IV colleges and universities. Find flight training academies.

3. Serve in the military and use your Post -9/11 GI-Bill benefits to help pay for flight training

The new Post-9/11 GI-bill provides outstanding educational benefits to veterans, especially for those serving a minimum of 36 months active duty since September 10, 2001. Through a variety of programs the Post-9/11 GI-Bill can help pay for tuition and fees, housing, and even books and supplies. To get the maximum benefit of your military service, look for aviation colleges, universities, and flight academies that participate in the Yellow Ribbon Program. The Yellow Ribbon Program http://www.gibill.va.gov/post-911/post-911-gi-bill-summary/yellow-ribbon-program.html may allow your Post-9/11 GI-Bill benefits to increase above and beyond normal limits. You will need to work closely with your school and VA office to work out all the details.
For more information, visit http://www.gibill.va.gov/post-911/post-911-gi-bill-summary/

4. Use your parents' GI- Bill benefits

Unused Post-9/11 GI-Bill benefits are transferable to children - For the first time, you can use GI-Bill benefits from your spouse or parents to help pay for pilot training. However, in order to be eligible to take advantage of this program, you must meet several conditions which are spelled out at http://www.gibill.va.gov/post-911/post-911-gi-bill-summary/transfer-of-benefits.htm

5. Get flight training scholarships

A huge variety of scholarship programs are available to prospective pilots. Scholarships can vary from just a few hundred dollars to over $10,000 depending on the school chosen and degree or professional goals declared. For example, the Clay Lacy Professional Pilot Scholarship Program awards up to $12,500 per year to participants attending the University of North Dakota, John D. Odegard School of Aerospace Sciences. You can find more information on flight school scholarships online.