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 significant financial and time commitment, with costs varying widely from $75,000 to over $400,000 depending on the school type and pilot certification sought.
Funding options include specific pilot training loans, traditional student loans, scholarships, out-of-pocket payments, and military-funded programs.
Aspiring pilots should prioritize applying for numerous scholarships and consider paying out-of-pocket to minimize debt, rather than relying on risky financial choices like zero-interest credit cards.
It is crucial to avoid secured loans and maintain realistic expectations about entry-level pilot salaries to ensure any incurred debt can be managed effectively after training.

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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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