Pilot Training Loans: 6 Mistakes to Avoid

6 Mistakes to Avoid When Looking for Pilot Training Loans

FLYING Staff

Friday, June 10, 2022 at 06:27 PM ET

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[File photo: Adobe Stock]

Key Takeaways:

Pilot training is a lengthy and expensive endeavor, with costs varying significantly based on the type of school (accelerated, two-year, or four-year university) and the pilot certificate sought.
Aspiring pilots should thoroughly research and explore all funding options, including scholarships, specialized pilot loans, and self-funding, to avoid accumulating excessive debt.
It is crucial to avoid common financial mistakes such as relying on high-interest credit cards, taking out secured loans that risk personal assets, and being unrealistic about lower introductory pilot salaries.
Government-funded military programs offer a debt-free alternative for pilot training, often including reduced hour requirements for an Airline Transport Pilot (ATP) certificate after service.

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The excitement surrounding becoming a pilot can be overwhelming and expensive. There are many ways to fund flight training, some being loans, scholarships, and out-of-pocket progression. It is important to do research, weigh pros and cons, and explore all options before deciding on how to bankroll the journey of becoming a pilot. Here are a few things to consider when taking out pilot training loans and mistakes to avoid.

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