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Finance Your TrainingFlight Training Finance

Quick & Easy, Affordable, Flexible

Put your loan to work right now and get on your way as a better trained, more proficient pilot.

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Before you get started here’s a list of things you will need to complete the application process:

  • Complete street address, phone number and email address
  • Social Security Number
  • Copy of valid ID and proof of income (paystub, W-2 or signed tax returns)

*The above assumes a minimum credit score of 740. Additional restrictions and higher rates apply for individuals with credit scores below. Terms are based on the following loan amounts; $6,000-12,000 PPL, $7,000 instrument rating and $3,000 multi rating. Flight training costs vary by location, aircraft and other factors. The above monthly payments carry an interest rate of 10.49% Annual Percentage Rate (APR). Credit approval and actual interest rates are dependent upon the credit history, income and obligations of the applicant and co-borrower, if any, as well as the loan term selected.

Questions?

How do I apply for a loan?

You can apply right here by submitting an inquiry from here.

How quickly will I hear back from the lender in terms of a decision?

You should receive a decision within 1 business day.

What documents will I need to complete the loan process?

Before you get started here’s a list of things you will need to complete the application process:

  • Complete street address, phone number and email address
  • Social Security Number
  • Copy of valid ID and proof of income (paystub, W-2 or signed tax returns)

What term should I select?

You should determine what monthly payment you can afford then choose the corresponding term. Please refer to the sample monthly payments chart on the Rates & Terms tab above. Also note, shorter terms result in less overall interest paid and have lower interest rates.

How will I receive the money?

This will be worked out with the lender during the closing process, you have two options. An account will be created, and then you may request a:

  • Check or
  • Debit card and/or checking

Do you have to be an AOPA member to apply?

Yes, you must be a member to apply. Please click here or call Member Services at 800.872.2672 to sign up or renew today. Mention you are applying for a Flexible Aviation loan and you will be eligible for a discount!

Do I need to make a down payment?

No, a down payment will not be required.

Is there a maximum amount I can borrow?

Yes, the maximum loan amount is $100,000.

Why are the rates higher than on my car loan or mortgage?

Our Flexible Aviation Loan is a “non-secured” loan, meaning there is no automobile, home or property to repossess if the loan is in default. As a result of the increased risk, lenders charge a higher interest rate. Compared to other similar loan products, the Flexible Aviation Loan is very competitive with rates and terms.

What type of flight training can this loan be used for?

Our Flexible Aviation Loan can be used for any flight school and any certificate or type rating.

What does the timeframe look like in terms of when I will actually receive the funds?

Timeline: 1 business day for decision, if approved, 2-3 business days to funding (once documentation has been received).

If I am a foreign student, am I eligible for a Flexible Aviation Loan?

Foreign students are eligible to apply for the Flexible Aviation Loan, however each loan will be reviewed on a case by case basis. The term of the loan cannot exceed the length of the student visa.

How will the interest be accrued on this type of loan?

You should receive a decision within 1 business day.

Rates & Terms

Current Options Available to Flying Clubs

$5,000 Loan

$10,000 Loan

$15,000 Loan

Number of payments
(Loan Term in Months)

Monthly Payment Monthly Payment Monthly Payment

84

$88-97 $177-194 $266-291

72

$95-103 $191-207 $287-311

60

$108-114 $216-228 $324-343

48

$127-132 $254-264 $382-396

36

$160-164 $321-329 $482-494

24

$229-233 $459-467 $688-700

The above assumes a minimum credit score of 650. Additional restrictions and higher rates apply for individuals with credit scores below 650. The above monthly payments carry interest rates from 9.49-15.24% Annual Percentage Rate (APR). Credit approval and interest rates are dependent upon the credit history, income and obligations of the applicant and co-borrower, if any, as well as the loan term selected.

What Loan Amount Can I Afford?

Here’s an easy calculation to help you determine the loan amount you should apply for given your monthly gross income. If you have excellent credit (700+) and assuming no additional debt, take your gross monthly income and multiply it by 3, the result will be your maximum qualifying loan amount. To calculate potential loan amounts for Good and Fair credit ratings, multiply your gross monthly income by 2 or 1 respectively. 

Here are some examples:

Potential Loan Amounts by Credit Rating 

Monthly Gross Income

Excellent (700+)

Good (650-699)

Fair (600-649)

Monthly Gross Income

$2,500

Excellent (700+)

$7,500

Good (650-699)

$5,000

Fair (600-649)

$2,500

Monthly Gross Income

$5,000

Excellent (700+)

$15,000

Good (650-699)

$10,000

Fair (600-649)

$5,000

Monthly Gross Income

$7,500

Excellent (700+)

$22,500

Good (650-699)

$15,000

Fair (600-649)

$7,500

Monthly Gross Income

$10,000

Excellent (700+)

$30,000

Good (650-699)

$20,000

Fair (600-649)

$10,000