Student Alternative Loans
05-20-2016, 06:41 PM
#1
New Hire
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Joined APC: May 2016
Posts: 3
Student Alternative Loans
Hello, i plan on going to western Michigan university this fall and plan on taking out some loans for flight training. I will be unable to get a cosigner for the loans. will I still be able to get the loans to fly, just with high interest rates? I was looking at Sallie Mae and wells fargo. Is there anyone who didn't have a cosigner who was approved?
05-20-2016, 08:07 PM
#2
Gets Weekends Off
Joined APC: Sep 2005
Posts: 1,735
Check out Federal Student Aid (FAFSA), it think it depends on your income, and credit score. It's a good way to get a lower rates and you usually get grants every year. I think this is better than the private loans like Wells Fargo.
05-21-2016, 06:34 AM
#3
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Joined APC: May 2016
Posts: 3
Yeah My parents already filled out the FAFSA im just afraid it not going to be enough to cover all of my flight fees. Which will lead to me taking out Private student loans.
05-22-2016, 01:00 PM
#4
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Joined APC: May 2016
Posts: 144
It is probably going to take you 3 years until you get your CFI there. If you end up going there I would plan on doing a double major and majoring in something else like accounting too.
If you are serious about being a pilot I would look into accelerated programs like Livingston Aviation in Waterloo, IA has. They have a program where you can get all of your ratings from Private to Multi ATP for 40k I think. You can also pay for each rating one by one, it will just cost a little more.
The good thing about doing an accelerated program is that it will save you a lot of time and money. It is by no means easy, you need to be fully committed to studying and flying everyday. If you are not a hard worker than this is not for you.
If you are serious about being a pilot I would look into accelerated programs like Livingston Aviation in Waterloo, IA has. They have a program where you can get all of your ratings from Private to Multi ATP for 40k I think. You can also pay for each rating one by one, it will just cost a little more.
The good thing about doing an accelerated program is that it will save you a lot of time and money. It is by no means easy, you need to be fully committed to studying and flying everyday. If you are not a hard worker than this is not for you.
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