Flight School Loans

When you’re thinking about attending flight school, one of the top concerns you may have is how you’ll pay for pilot training. If you plan to become a commercial pilot, you’ll want to weigh how much you may earn vs. how much student loan debt you’ll have to pay.

Below, we’ll explore how you can fund your education with flight school loans, including federal and private student loans.

Lender	Best for	LendEDU rating
Dept. of Education	Federal student loans	Not rated
College Ave	Private student loans	5/5
Sallie Mae	Cosigners	4.8/5

Federal student loans for flight school

Students may be able to take out Direct Subsidized Loans or Direct Unsubsidized Loans. Parents of students can borrow with Parent PLUS loans. Here’s how the types of loans differ.

Type of federal loan	Who is it for?	Annual limits
Direct Subsidized Loan	Flight school students with financial need	$3,500 – $5,500, depending on year in school
Direct Unsubsidized Loan	Flight school students, regardless of financial need	$5,500 – $12,500, depending on year in school and dependency status
Parent PLUS Loan	Parents who wish to pay for their child’s flight school	Cost of attendance minus other financial aid

Direct Subsidized Loan

The annual limit for a Direct Subsidized Loan is between $3,500 and $5,500, depending on your year in flight school. The total limit is $23,000. The interest rate for new loans is 6.53%.

With Direct Subsidized Loans, interest will not accrue while you are in flight school at least half-time and during any deferment periods. If you max out your Direct Subsidized Loans and still need money for your flight education, Direct Unsubsidized Loans may be an option.

Direct Unsubsidized Loan

The annual limit for Direct Unsubsidized Loans is between $5,500 and $7,500 for dependent flight school students and between $9,500 and $12,500 for independent students. The total limit is $31,000 for dependent students and $57,500 for independent students.

If you have Direct Unsubsidized Loans, interest will accrue at all times. The interest rate for new undergraduate loans is 6.53%, and 8.08% for graduate and professional loans.

Parent PLUS Loan

The annual limit for a Parent PLUS loan is the cost of attendance minus other financial aid. Flight school students are not required to max out their own student loans before their parents can take out a Parent PLUS loan. The interest rate is 9.08%.

Private student loans for flight training

Students who have maxed out their federal loans can take out private flight school loans to pay for flight school. 

Your flight school may have arrangements with specific private lenders, including banks, credit unions, and online lenders. Read below to learn about two of your options.

College Ave

Sallie Mae

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Cost of flight school 

There were approximately 995 flight schools in the U.S. in 2023, and obtaining a commercial pilot’s license can cost between $50,000 to $100,000. However, the cost varies by the flight school.

ATP Flight School, which has flight schools nationwide, estimates the cost for full-time students with no pilot training to be $108,995, plus up to $3,000 in training center fees, for the school’s 9-month career pilot training program. The ATP program certifies pilots for single-engine and multi-engine commercial airliners and private, single-engine airplanes and requires 293 hours of total logged flight time.

Someone with no flight certifications who attends flight school for their commercial pilot license can expect to attend for a year to 15 months and will pay between $90,000 and $100,000 total for the training at Epic Flight Academy in New Smyrna Beach, Florida, a representative from the flight school told LendEDU.

It’s important to consider the anticipated pilot salary you may earn when taking out a student loan. Also, remember that being a commercial pilot isn’t typically 40 hours per week, so make sure you know the guaranteed minimum hours per month.

According to Airline Pilot Central, an online pilot resource, below are the 2024 first-year hourly pilot pay rates for major, cargo, and one private airline.

Airline	First officer hourly pay rate	Captain hourly pay rate	Minimum monthly guaranteed hours
Southwest	$133	$334	78
Delta	$125	$211 – $410	65
American	$116	$211 – $430	Not available
Piedmont	$96	$154	75
United	$91	$260 – $323	Not available
Alaska Airlines	$112	$312	70
Eastern	$141	$231	72
JetBlue Airways	Not available	$212 – $410	70
Wheels Up Private Jet	$96	$154	Not available
United Parcel Service	First-year hourly rate not available, top pay is $284 per hour	$212 – $410	Not available

How to pay for flight school

There are several different ways to pay for flight school. You may get a scholarship to pay for a portion of it. Some schools offer their own scholarships to pay for a portion of flight training. For example:

• Epic Flight Academy offers flight training scholarships for $5,000 and $20,000.
• The Aircraft Owners and Pilots Association (AOPA) offers scholarships ranging from $2,500 to $14,000 for flight school training. 
• You’ll also find a list of organizations and schools that offer flight training scholarships at the Federal Aviation Administration (FAA).

Some students finance all or a portion of flight school with flight school loans. However, the steep cost of flight school training requires many to apply for student loans. You may be able to get a federal student loan if the flight school is accredited. Additionally, you may be able to get a private student loan.

Epic Flight Academy works with several student loan lenders. “Sallie Mae is the number one lender we work closest with and recommend,” says the Epic Flight Academy representative. “Sallie Mae usually requires a cosigner, so for students who don’t have a cosigner, we recommend applying for loans with Stratus Financial.”

Does the FAFSA cover all flight schools? 

The Free Application for Federal Student Aid (FAFSA) covers flight school if the institution is accredited. Maximizing your federal loan options before you turn to private loans is in your best interest because federal loans offer benefits, including more income-driven repayment plans, longer deferment periods, and lower interest rates.

You’ll need to fill out the FAFSA to qualify for federal financial aid for flight school. As long as you pick an accredited flight school, the FAFSA may open the doors for various types of federal aid, including student loans, work-study programs, and grants. 

Depending on your situation, you may need to include financial details about your parents or guardians, such as their current account balances, tax details, and net worth. Because federal aid is distributed on a first-come, first-served basis, you should begin the FAFSA process right after deciding to pilot an aircraft for a living. If you delay the FAFSA, you may miss out on money for flight school.

Flight schools that accept the FAFSA

Many flight schools don’t accept the AFSA but a sampling of flight schools that accept the federal form and some forms of federal student aid include:

• National Aviation Academy, Clearwater, Florida and Concord, Massachusetts
• Aviator College of Aeronautical Science & Technology, Fort Pierce, Florida
• AeroGuard Flight Training Center, Phoenix, Arizona, and Austin, Texas
• U.S. Aviation Academy, locations in Texas, New York and Missouri
• Vermont Flight Academy (accepts Vermont State University Financial Aid), South Burlington, Vermont
• L3Harris, Sanford, Florida
• Spartan College of Aeronautics and Technology, Tulsa, Denver and Los Angeles area
• Paragon Flight, Fort Myers, Florida

How to repay loans for flight training

Before you sign up for a loan, do the math to ensure you can afford the monthly payments when you finish flight school.

You can use the official loan simulator to see how payments will vary depending on your repayment plan if you have federal student loans. You can use the LendEDU calculator to determine your payments if you have private student loans.

Let’s say you take out a $35,000 private student loan to pay for flight school. It has a fixed 6.8% interest rate and a 10-year repayment term. In this scenario, you’ll pay $403 per month and $13,334 in interest charges for a total cost of borrowing of $48,334.

Make sure you’re aware of when repayment begins. Federal student loans and most private loans have a six-month grace period during which payments are not due.

Our expert’s advice

Crystal Rau

CFP®

Flight school can become rather expensive and exceed the federal borrowing limits, which means considering private funding. Even with an airline-sponsored program, many aspiring pilots still take out over $100,000 in student loans. Before taking out a loan, consider your average salary when you finish flight school. If you expect to make $120,000 out the gate, you don’t want to take on more than $120,000 in student loans. During flight school, finding ways to lower your living expenses is the name of the game. Find roommates, cook at home, and live as close as you can to school. And once you secure your first full-time job, continue living frugally to ensure you can tackle your student loans.

Alternatives to flight training loans

Flight school students may have fewer options than traditional students, but several options exist—and some don’t require repayment. It’s wise to start with flight training financial aid you won’t need to repay.

Option	Must be repaid?
Airline training programs	Yes
School-sponsored payment plans	Yes
Scholarships	No

Airline training programs

Some airline training programs, such as Airline Transport Pilot (ATP), have partnered with lenders to offer their own loans. You are not required to use one of its affiliated lenders, so even if you’re considering one, compare it to other lenders to ensure you get the best rate.

School-sponsored payment plans

Flight schools, including Hillsboro Aero Academy and AeroGuard, may let students sign up for a payment plan, which will break up the cost of flight school into several payments. A small signup fee might apply, but it’s often much less than the interest you’d pay on a student loan. 

Scholarships and grants for flight school

Scholarships and flight training grants are among the best ways to fund your flight school education because you don’t need to repay the money when you graduate. Many kinds of aviation-focused scholarships are available; some airlines even offer their own awards.

Here’s a list of organizations that offer scholarships and grants:

• AeroClub of New England’s Scholarship Program
• Air Traffic Control Association (ATCA) Scholarship Program
• Aircraft Electronics Association (AEA)
• Aircraft Owners and Pilots Association (AOPA)
• Amelia Earhart Memorial Scholarships & Awards
• Astronaut Scholarship Foundation
• AvScholars
• Epic Flight Academy Aviation Scholarship
• Experimental Aircraft Association (EAA) Scholarships
• Federal Aviation Association (FAA)
• LeRoy W. Homer Jr. Scholarship
• Michigan Takes Flight Training Scholarship Program
• University Aviation Association (UAA)
• Women in Aviation International (WAI)

FAQ

Can you get a Pell Grant for flight school?

Yes, you can get a Pell Grant for flight school if the school is an accredited institution that participates in federal student aid programs. Pell Grants are need-based grants provided by the federal government to help students with financial needs pay for their education. 

If your flight school meets the necessary criteria and you qualify based on your financial need, you may be eligible to receive a Pell Grant to cover some of your flight training costs.

Can you get pilot loans forgiven?

Yes, there are several programs through which pilot loans can be forgiven. One option is the Public Service Loan Forgiveness (PSLF) program, which forgives the remaining balance on Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer, such as a government or non-profit organization. 

Additionally, there may be specific loan forgiveness programs for pilots who work in certain sectors or regions, such as rural or underserved areas. It’s important to research and understand the eligibility requirements and terms of these forgiveness programs.

When do you need to start repaying flight school financing?

The repayment schedule for flight school financing varies depending on the type of loan and the lender’s terms. Generally, for federal student loans, repayment begins six months after you graduate, leave school, or drop below half-time enrollment. 

This six-month period is known as the grace period. For private student loans, repayment terms can vary, and some lenders may require payments while you are still in school. It’s crucial to review your loan agreement and consult with your lender to understand the specific repayment terms and timelines for your flight school financing.

How we selected the best loans for flight school

LendEDU evaluates student loan lenders to help readers find the best student loans. Our latest analysis reviewed 725 data points from 25 lenders and financial institutions, with 29 data points collected from each. This information is gathered from company websites, online applications, public disclosures, customer reviews, and direct communication with company representatives.

These star ratings help us determine which companies are best for different situations. We don’t believe two companies can be the best for the same purpose, so we only show each best-for designation once.

Recap of the best flight school student loans

Lender	Best for	Our rating
College Ave	Private student loans	5/5
Sallie Mae	Cosigners	4.8/5