Loan or Student Line of Credit - Non-College

[SkunkStripe]

Just curious what people have done for flight training loans or lines of credit for non-approved schools offering flight training? Apparently the banks only issue loans to accredited learning institutions like Confed and Seneca.

[DanWEC]

At least in Ontario, there isn't such a thing as a "non-approved" FTU!

You can't get OSAP, but flight schools with a commercial program are required to be part of the Private Career Colleges. Almost all that I know of can produce a letter for your bank stating the cost, length and weekly hour workload that puts the program into a full time program requirement. The bank can then give you a regular student loan or student line of credit. Sometimes it needs to be co-signed by a parent or whoever.

[awitzke]

I got an RBC Student Line of Credit for a private flight school. Was not a problem. Had to prove I was a student, and I also needed a co-signer due to my situation at the time.

[SkunkStripe]

Thanks for the help guys!

[PositiveRate27]

I got an RBC Student Line of Credit for a private flight school. Was not a problem. Had to prove I was a student, and I also needed a co-signer due to my situation at the time.

Ditto in BC.

Just have some form of syllabus with estimated cost and time line and they should be able to make something work for you

[altiplano]

I got laughed out of the bank when I showed up for an appointment for a student line of credit to be a pilot... They told me it was more for doctors and lawyers and that kind of thing...

[awitzke]

Sounds like you need to find a new bank.

It was very easy to get a line of credit at RBC.

[Tylerjohnston]

I didn't have a problem getting a line of credit through BMO with a co-signer,I was 18 at the time. This was also for a school in the states.

Good Luck