How to Finance Your Aviation Training?

One option to pay for your flight training is to have someone in the United States or Canada sponsor you. This sponsor needs to be a permanent resident with a stable job, income, or savings. They can apply for a loan with you at their local bank, online, and serve as guarantors who will covering all your tuition fees. Usually, you’ll be the main person responsible for paying back the loan, but your sponsor will co-sign it, which means they’re also responsible if you can’t pay.

Once the loan is approved and marked for education, you can use it as proof of your finances when applying for a student visa. This shows that you have the money you need to study.

Another way is if your U.S. or Canadain takes out a personal loan from his bank, and then puts the money in a special account just for your education. This account, called an escrow account, makes sure the money is only used for the flight school. When you apply for your visa, you’ll need to show the bank statement for this account to prove you have the funds.

Please note: just promising the consulate to pay for your training isn’t enough. The consulate won’t accept a promise letter from your sponsor unless they’ve already put the money in an escrow account for you and you can show the account statement to the visa official. Your sponsor might also need to give you a separate letter saying they’ll cover your living expenses. They’ll need to show proof of their income or savings to support this promise. Otherwise – your student visa application may be rejected.

Can I get financing by a local organization?

If you’re looking for help to pay for your aviation training, we offer a package to support your petition for sponsorship. You can use this to ask local airlines, businesses, or government groups for scholarships.

And again, please bear in mind, that if you find a sponsor who’s a private person (like a family member) or a business or government group, just having a letter of sponsorship isn’t enough for your visa application. They need to put the money in a scholarship escrow account. This account, set up by a domestic or North American company, has to say the money is for your school fees overseas.

Can I petition for a student loan or a scholarship on my own?

Yes, you can – and this is the most common and most successful strategy for obtaining full or partial funding for flight training. So, if you don’t have someone in the U.S. or Canada to help you with your finances, which is the case for 99% of applicants, we can offer you a sponsorship of loan Petition Support Package called S.L.A.S. This package helps you ask for a student loan or sponsorship for your career development in your own country or from some organizations in the United States.

When it comes to getting a student loan, it’s your call to pick the loan provider and decide how to apply for it. We suggest reaching out to local banks with our complete SLAS packet, which confirms your eligibility for our program and guarantees a well-paying job after you graduate. Banks want to make sure they’re lending to someone who can pay back the loan, so our SLAS packet is important because it shows them you’re a good candidate.

To qualify for a loan in your country, international students need to show Aerocadet they have a strong command of English, have at least a high school diploma, decent academic scores, and pass an online assessment test.

Special loan arrangement for Indian students

Most of our students are from India, so we’ve become known for helping them get flight training loans from Indian banks using our SLAS package. If you’re interested in getting a student loan in India, we can help you with that.

If you want to ask for a student loan or scholarship from a bank or government group in your country, we can provide you with a special SLAS petition package. This package includes all the documents your bank needs to consider your loan application. You can get this package as a printout with a QR code to check your application status online, or you can get it as a professional printed document, which we recommend.

So, how do I proceed?

Well, first of all, you need to need to decide on the budget you need for your flight training. Start by reviewing the full list of Aerocadet’s integrated programs which come with guarantee internship and employment placement – only such programs are eligible for SLAS petition support, because they guarantee a pilot job after graduation. If you need help deciding – schedule a free consultation call with one of our consultants. Once you have decided on the program, you will have an idea of program cost. Aerocadet always publishes full estimated cost of training on each program page, in the Tuition Cost section. The next step – apply for the SLAS petition package in order to apply for student loans or scholarships locally and internationally. A detailed, step-by-step SLAS application qualification process is published here. Use both strategies – apply for training scholarship with all of the organizations listed above, and, simultaneously, apply for a loan at a local bank and sponsorships at the local airlines and government organizations.

Do not be discouraged by rejections: sometimes, your application for a loan maybe denied upon the initial application. However, if you get approved for one or two partial flight training scholarships from our list of sponsors, and present the approvals and evidence of partial funding to the banks with your repeated applications, your loan petition may be approved. The approval will strengthen your petition and will allow you to solicit for more and more funding from other banks and organizations, until you have enough to start training.

Stay positive  – if you are smart, determined, hard-working, persistent and confident – you will eventually achieve your aviation career goals!