I was wondering if anyone here knows of a financial assistance or scholarship program in Canada that would help in obtaining a commercial pilot license. I looked into Manitoba student aid on their website and I understand it to say that the max is about $3,100 per year. With the commercial pilot program being about $40, 000 that will not help much. Any help is much appreciated.
Thank You,
Brandon
Financial Assistance for Flight Training
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marktheone
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just another pilot
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I got the TD line of credit, but that was....holy crap, its been 6 years now!
i believe it was done through ATAC somehow.
Federal student loans are hard to get for flight schools, unless they are 'approved'. I believe the federal/provinical loans only pay so much per 'semester' or week of study anyways, which is a piss hole in the snowbank.
Good Luck
i believe it was done through ATAC somehow.
Federal student loans are hard to get for flight schools, unless they are 'approved'. I believe the federal/provinical loans only pay so much per 'semester' or week of study anyways, which is a piss hole in the snowbank.
Good Luck
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Zapp Brannigan
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I got a Line of Credit from TD this fall. Its limited to $8000, the thing is you have to sell it as post secondary education from an approved school. The other banks wouldn't give me one because a flight school is usually catergorized as a private school. I think if your flight school is approved for financial assistance through the gov't, you would be good for a line of credit.
Good thing is you technically don't have to pay anything back except interest until one year after your training is complete. $8000 isn't that much but it helps supplement training while you work.
Good thing is you technically don't have to pay anything back except interest until one year after your training is complete. $8000 isn't that much but it helps supplement training while you work.
Grants
Does anybody know how the government loans might work in Ontario? I just ran flat broke with maybe 10 hrs to polish off for the CPL and I need to do the Multi IFR, I figure all I will need is approx 7K. Does anyone know if this might even be a possibility? I am just looking for info before i try and hit up HRDC, Cheers!
I don't think TD offer's the line of credit for flight training anymore. I used it for my training and sucked up the whole 25K they gave me. A few years later, when I first started flying for a living and was taking in just over $1000/mth, they called me up and demanded $750/mth payment. When I went to local branch to discuss my options the manager there told me that TD was no longer offering that particular line of credit because of difficulties they were having trying to collect. I wonder why?I believe that TD/Canada trust used to do lines of credit for flight training.
TD Canada. I was just approved and I guess only being a student with no real credit history...not a great risk? I was denied over the internet, went in with Mommy and explained my intentions (10K to complete CPL/Instructer [if I choose to take that route]) and 2 college credits. I asked how kids are supposed to make it somewhere if no one will take chances with them, I guess she felt bad and approved me right there hehe. Dont plan on using the credit line if i can do it myself.
