Funding for flight training

Nate_lynch · Post by **Nate_lynch** » Tue Aug 01, 2006 11:58 am

I am looking for a way to pay for my flight training without going to a school(OSAP funded). Has anyone found other ways to pay for their flight training?

master switch · Post by **master switch** » Tue Aug 01, 2006 12:50 pm

some man paid me to swallow balloons in columbia and hand them over up here. got to ride on some cool heavies.

this ckick is hot.

Right Seat Captain · Post by **Right Seat Captain** » Tue Aug 01, 2006 12:52 pm

TD Student Line of Credit is how I did mine. While you are training, you only need to pay the interest, then you must start paying the loan after a 6 month grace period after finishing training. This is typically set up for university or college and is given to you in yearly increments of $8000, but it is possible to do some arm twisting to get more upfront. You'll need a letter from the flight school that you're training, every year that you intend to use the line of credit.

mellow_pilot · Post by **mellow_pilot** » Tue Aug 01, 2006 7:15 pm

I got as far as

master switch wrote:some man paid me to swallow

and nearly died laughing!!

Walker · Post by **Walker** » Wed Aug 02, 2006 12:58 pm

mellow_pilot wrote:I got as far as
master switch wrote:some man paid me to swallow
and nearly died laughing!!

Good point! You could become a prostitute, it would be a good transition job into becoming a pilot. Just keep in good shape, there’s lots of ugly people out there with money who just need someone to love.

767 · Post by **767** » Wed Aug 02, 2006 8:35 pm

Right Seat Captain wrote:TD Student Line of Credit is how I did mine. While you are training, you only need to pay the interest, then you must start paying the loan after a 6 month grace period after finishing training. This is typically set up for university or college and is given to you in yearly increments of $8000, but it is possible to do some arm twisting to get more upfront. You'll need a letter from the flight school that you're training, every year that you intend to use the line of credit.

Is it neccessary to have an account with TD to get the loan? How was your loan aprooved? did u have sufficent sources of income?? Please pm me with your comments, theres no point posting in this thread as it has too many off topic comments. Im guessing these kids are still in high school trying to make it through grade 10...

mellow_pilot · Post by **mellow_pilot** » Wed Aug 02, 2006 9:25 pm

sorry, resume squwaking 1200...

On the original topic:
I know you're probably too old and it takes more commitment than college, but the Air Cadets train about 110 ppls a year. (please, no crap about aircadets, alot of us started out that way, just mentioning it.)

I also hear work is good. If you're not in school, there's time to make money that way.

Perhaps start working at a flight club/school? I know several pilots who started that way and ended up with sweet jobs from the connections.

Bank loans, private loans, rich parents, I've heard of all those working out ok. Scholarships (ie through COPA/AOPA/EAA type organizations), I think these are rare (if they exist at all) in Canada, but I've heard of them in the States, something to look into anyway.

If you miraculously have dual citizenship in a European country, checkout what's availible there. Several Airlines have cadet programs (assuming that you want to fly airlines ofcourse).

There's also the Military, again, commitment (and eventually school).

Good luck.

Redneck_pilot86 · Post by **Redneck_pilot86** » Wed Aug 02, 2006 9:25 pm

I had a similar loan from RBC, I imagine most banks have something similar for students. Just go in and talk to someone. Don't waste time calling, you will get some idiot in Toronto or Montreal that hasn't got a clue.

ST

1coolav8r · Post by **1coolav8r** » Thu Aug 03, 2006 11:07 am

If you are looking to get OSAP without going to college --> I was told before that if the flight school was a "qualified educational institute" (I think thats what its called) you could still get funded with osap without going to college/uni.

I've never done it or tried myself but it's something to look into if you are interested...

mellow_pilot · Post by **mellow_pilot** » Thu Aug 03, 2006 3:22 pm

Get a seasonal job, get laid off, go on pogey. Then find a gov't program that will give you money for career training, bingo-> CPL.

Right Seat Captain · Post by **Right Seat Captain** » Thu Aug 03, 2006 5:15 pm

klm691heavy wrote: Is it neccessary to have an account with TD to get the loan? How was your loan aprooved? did u have sufficent sources of income?? Please pm me with your comments, theres no point posting in this thread as it has too many off topic comments. Im guessing these kids are still in high school trying to make it through grade 10...

I elected to post on here rather than PM, because I'm sure others are curious about the same topic but never say anything...

You will need to get an account, but this is a non-issue. The bank will be more than happy to give you an account, it doesn't cost anything if you're a student. When I applied, I had a student type part time job. I had to get it co-signed, although now that I have a credit history, I could get one pretty easily, even though I'm making next to nothing. So it depends on whagt kind of history you have and what kind of income you have to get approved.

As someone else mentioned, go sit down with someone in the bank to discuss. They are much more flexible on issues when you talk to an advisor in person rather than the script following folks at the telephone warehouse.

cyyz · Post by **cyyz** » Thu Aug 03, 2006 5:41 pm

mellow_pilot wrote:Get a seasonal job, get laid off, go on pogey. Then find a gov't program that will give you money for career training, bingo-> CPL.

Lol, alas, that is true... I only know 3 ppl that got their CPLs and 2 for PPCs....

Justwannafly · Post by **Justwannafly** » Mon Aug 07, 2006 5:37 am

mellow_pilot wrote:Get a seasonal job, get laid off, go on pogey. Then find a gov't program that will give you money for career training, bingo-> CPL.

Seen that done many times.....kinda wish I had done it...grr that interest I can't afford to pay...

Walker wrote:
mellow_pilot wrote:I got as far as
master switch wrote:some man paid me to swallow
and nearly died laughing!!
Good point! You could become a prostitute, it would be a good transition job into becoming a pilot. Just keep in good shape, there’s lots of ugly people out there with money who just need someone to love.

& as a Prostitute you would make more $ then as a pilot

Norskman · Post by **Norskman** » Mon Aug 07, 2006 1:52 pm

mellow_pilot wrote:Get a seasonal job, get laid off, go on pogey. Then find a gov't program that will give you money for career training, bingo-> CPL.

Finding the gov't program that will get you that training for that amount of $$ being the key issue.. that can be a job in itself. I get laid off every summer, and would love to do this, but I have not found that program yet (in SK).

gotak · Post by **gotak** » Fri Aug 11, 2006 11:41 am

There are such programs? ummmmmmmmmmmmmmmmmmmmmmmmmmmmmm where?