I couldn't really find any topics on this (maybe I wasn't using the right search string), but what are some ways to finance one's flight training? I'm currently working and going to university so I'm doing my PPL (and later on my CPL) on the side. I do save money wherever I can but I'm just worried once I get to the CPL I'll be short on funds to complete the required dual training/ground school.
Do you have any suggestions that may not seem that obvious to a newbie to aviation? Anything from the government, or loans/lines of credit from banks or other entities, etc.?
Any help would be appreciated! Thanks in advance.
(PS: this might be a good sticky too since I doubt I'm the only one trying to get some info on this stuff)
Paying for training
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victory_aviation
- Rank 2
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- Joined: Sat Feb 24, 2007 3:45 pm
Re: Paying for training
When doing mine I had alot of trouble. OSAP paid for next to nothing and there is only one private school in ontario you can go to (to get OSAP). I think if you are training in Alberta you can have it all paid for by student assistance (this is what I heard). I dont think they pay for much in Manitoba. No matter where you go I think you have to be there for a year before you apply.
TD had a student loan at one point but I think its gone. You can get loans from any bank but you have to have good credit.
There is a way to get ei to pay for it. Call perimeter in winnipeg. They only do MIFR but they know all about it. If you are thinking of doing IFR they are a good school to go to. Harvs Air is also good.
TD had a student loan at one point but I think its gone. You can get loans from any bank but you have to have good credit.
There is a way to get ei to pay for it. Call perimeter in winnipeg. They only do MIFR but they know all about it. If you are thinking of doing IFR they are a good school to go to. Harvs Air is also good.
Re: Paying for training
Personal loans or lines of credit work... although, you may have already max out from school. Try government loan. The nice thing about the gov loan is you can claim the interest on your taxes (personal loans / lines of credit you technically cannot). Also, I've heard from other people who got gov loans, after you've paid so much of it back, they write off the rest. The catch, I think it's quite difficult to get. I don't know too much about this program, but maybe someone else can shed some info.
Some flight schools have loan program too... PSsomething... again hopefully someone could shed some light on this too.
Good Luck
Some flight schools have loan program too... PSsomething... again hopefully someone could shed some light on this too.
Good Luck
Flight instruction is long hours of sheer boredom with short moments of stark terror!
A small correction early is better than a large correction late.
--- Aviation proverb
A small correction early is better than a large correction late.
--- Aviation proverb
Re: Paying for training
I found a wack load of scholarships for mine, but the bonus was I was taking one of those college programs so that helped. Although, it was very difficult to convince someone that I really was in need of 20g's for tuition that semester when the average uni students needs a max of 5.
If you are in Alberta the do have a special student loans program for obtaining your post private licenses and endorsements/ To get it, you fill out the regular student loans application and attach a special form that you have filled out by your flight school. Its on their website. The only thing is that you are limited to the amount that they will provide. I think its about 14g's;they paid me 8 in sept and the rest in january. It adds up quick though. Still looking at close to 20g's for my last semester and I already have 35+ in outstanding loans, but thats what you get for a college program, especially a privately operated one.
Trust me though, I was in the exact same boat as you a couple of years ago and know how daunting the situation is. I was freaked with the cost yet I knew I wanted to do it; things just seemed to happen and work out well. IMHO you are going about it the right way. Got to a smaller school (save about 30-40g's right there), do it on your time, get treated like a customer rather than a baby infantry soldier and do the lessons you have to rather than some miraculous college curriculum that has been bestowed by god that says that extra C172 time practicing upper air is imperative just before your multi flight test......(sorry slight rant)
Stick with it, work hard and get er done. So much more valuable for you than those Air Canada brats whose daddy's fork the dough and they just breeze by till pops puts in a good word for you at the office (eek, another rant)
Good luck!
If you are in Alberta the do have a special student loans program for obtaining your post private licenses and endorsements/ To get it, you fill out the regular student loans application and attach a special form that you have filled out by your flight school. Its on their website. The only thing is that you are limited to the amount that they will provide. I think its about 14g's;they paid me 8 in sept and the rest in january. It adds up quick though. Still looking at close to 20g's for my last semester and I already have 35+ in outstanding loans, but thats what you get for a college program, especially a privately operated one.
Trust me though, I was in the exact same boat as you a couple of years ago and know how daunting the situation is. I was freaked with the cost yet I knew I wanted to do it; things just seemed to happen and work out well. IMHO you are going about it the right way. Got to a smaller school (save about 30-40g's right there), do it on your time, get treated like a customer rather than a baby infantry soldier and do the lessons you have to rather than some miraculous college curriculum that has been bestowed by god that says that extra C172 time practicing upper air is imperative just before your multi flight test......(sorry slight rant)
Stick with it, work hard and get er done. So much more valuable for you than those Air Canada brats whose daddy's fork the dough and they just breeze by till pops puts in a good word for you at the office (eek, another rant)
Good luck!
Re: Paying for training
Just remember - you do need to pay the loans back - which is unlikely on your first years salary 
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Highflyinpilot
- Rank 8
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- Joined: Wed Apr 21, 2004 10:30 am
- Location: Holy Hell, is that what you look like in the morning
Re: Paying for training
And you second, third and fourth years salary
As every one said above, just the regular loans, student loans, line of credit, or work and pay as you go( but it always takes alot more time that way)
Good luck.
As every one said above, just the regular loans, student loans, line of credit, or work and pay as you go( but it always takes alot more time that way)
Good luck.
