Some of the larger flight schools now offer financing options/financial assistance that will be tailor-made to your flight training. These specialized loans should offer competitive interest rates and the option to pay off pilo loans early without penalties.
They will likely offer ‘repayment holidays’ also. This means that from the point you take your loan, you won’t have to pay back the loan until a period has passed.
For example, it might be two years before you need to start paying back your loan, allowing you to complete your pilot training without worrying about repaying your loan while you are not earning any income.
As we discussed in the salaries section, it’s worth remembering that your starting salary won’t be huge. Therefore, considering your loan repayment costs in the early stages of your career is essential.
Everyone’s financial backgrounds are different, so giving detailed guidance is difficult.
However, I have provided guidance on where to get the required information. Once again, everyone is unique regarding finances, so you must find the best route for you.
Once you have found a flight school that ticks the boxes for you, reach out to them and ask them how their cadets finance their pilot training.
