Student Loans Aren’t the Only Way to Fund Your Training

There are other ways to fund the pursuit.

Tuesday, January 25, 2022 at 09:51 AM ET

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If traditional numbers don't add up, you might have to use some different methods to get yourself trained. [File photo: Adobe Stock]

Key Takeaways:

The article critiques the burden of significant student loan debt for pilot training, highlighting long repayment periods, financial strain in early career stages, and vulnerability to industry disruptions.
It strongly advocates for a "back-up plan," suggesting pilots pursue broader college degrees in high-demand fields (like emerging technologies) alongside flight training, rather than exclusively pilot-specific degrees, to offer diversified career options and financial stability.
The author promotes financial prudence, encouraging students to save money, pay for training session-by-session, and consider purchasing a training aircraft (potentially with a partner) as a more cost-effective way to achieve certifications and build flight hours while reducing overall debt.

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Two of the dominant responses to our recent pilot shortage series surrounded the affordability of training and pilot pay entering the workforce. Many experts suggested that the numbers were just off.

For many who decide to go on this worthwhile pursuit of becoming a professional pilot, student loans offer an opportunity to pursue their dreams. Indeed, they seem quite generous. Between private and federal lenders, new students can get almost unfettered access to cash.