Pilot Finance

If you are a U.S. citizen or resident, you can apply to Pilot Finance. They have great options to start your career.

Program FAQs

What kind of training can I finance?
Our finance programs are designed for part-time fixed-wing private pilot or instrument training. Under certain circumstances we are also able to accommodate advanced training, rotorcraft training, and sport pilot training.

Can I finance commercial and advanced training?
You can finance commercial and advanced programs as long as the training fits within our program guidelines and you can afford the monthly payment amount. For more information, refer to minimum program sizes and typical program sizes later in these FAQs. If you need a succession of ratings, you should look ahead and be aware of how your payments could increase and whether you will be able to qualify. While we welcome new business, we also strive to avoid transactions that appear likely to leave you “stuck” in your training cycle; a situation where more training is needed to achieve a commercial or career goal but you are financially unable to continue.

What training schedules can be accommodated?
Pilot Finance programs are for part-time training with training schedules that average between 1-5 lessons per week. The maximum training schedule must be established in advance because the maximum repayment periods we can offer is determined by the agreed maximum (average) training schedule. Lessons missed because of weather, scheduling or other reasons can be “made up” later, but you may not accelerate your training beyond the agreed maximum (average) training schedule, measured cumulatively. Unfortunately, at this time our programs cannot accommodate accelerated training that involves more than 5 lessons per week.

What are the repayment terms?
The repayment terms are determined by the number of lessons per week, on average, you would like to take. Repayment terms range from 18 months for our most accelerated programs with 5 lessons per week, to 72 months for programs with only 1 lesson per week. Most of our customers use programs with 2-3 lessons per week and repay over 48-60 months.

What if I use all of my training funds before I finish?
You can apply for “add-on” or “finish-up” training provided that 50% of the payments on your initial account are satisfactorily paid. To avoid running short of training funds, we strongly encourage students and schools to package training programs that will be fully sufficient to achieve the training goal. Most of our schools add a “cushion” of additional aircraft and instruction hours, because many students need more hours than they originally anticipated.

What if I don’t use all of my training funds?
If funds are left over after training is completed, you have several options: 1) use the remaining funds to rent aircraft and build hours; 2) use the remaining funds to take additional training; or 3) elect to terminate your program and have the unused training funds credited to your Pilot Finance account to reduce your remaining monthly payments.

What if I want to stop training?
All Pilot Finance programs clearly state that you may terminate your training at any time for any reason! Your school and Pilot Finance warrant this right. Both of us guarantee a refund of any unused training funds at the time of your termination. The refund is credited to your Pilot Finance account balance. You will never have to pay for training services you did not receive! We are proud of the way our programs protect our students.

Is there a minimum program size?
The minimum program size for our standard repayment plans will include at least 45 hours of aircraft rental. We consider programs that include 25-45 hours of aircraft rental on an exception basis, but with shorter-than-normal repayment terms. Programs with fewer than 25 hours of aircraft rental cannot be approved for financing.

What program sizes are typical?
For the private pilot and instrument programs we finance, a typical “full” training program includes between 55-65 hours of aircraft rental. Because financing “add-on” or “finish-up” training will likely not be available, it is important that your program size be fully sufficient, in the best judgment of you and the school, to achieve your training goal.

What are the interest rates?
Our contract interest rates range from 12%-18% depending on your qualifications. Generally, the interest rate will be somewhat lower than you might pay on traditional credit card accounts.

Is there a penalty for paying off my account early?
No. There is no prepayment penalty. You will be refunded any unearned interest for paying off your account early. Interest rebates, or refunds, for early payment in full (referred to as “prepayment”) is determined by the finance regulations in your state. The calculation varies slightly from state to state.

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