Financing Options for Your Flight Training

The new, improved and updated article about the flight training financing and scholarships is available here >>>

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For generations, the dream of flight has captivated the hearts and minds of many. The allure of soaring above the clouds, charting a course through the endless blue, has driven countless individuals to pursue a career in aviation. However, for those who aspire to become pilots, a significant hurdle has always loomed large on the horizon: the financial challenge of flight training. 

As the world of aviation continually evolves, finding the means to fund flight training has grown more complex. At Aerocadet, we have been committed to bridging the gap between eager prospective pilots and the flight schools that can turn their dreams into reality. Since 2012, we have been dedicated to helping aspiring aviators overcome the financial barriers that threaten to keep them grounded. In recent years, we’ve witnessed the decline of several traditional funding sources, but the sky remains full of opportunities for those willing to explore innovative ways to finance their flight training aspirations.  

The Timeless Dream of Flight  

Flight has always been synonymous with human ambition. From the Wright brothers’ historic first powered flight to the awe-inspiring marvels of modern aviation, the dream of soaring through the skies has persisted throughout history. While aviation’s early pioneers faced their own unique challenges, financing flight training remains a timeless hurdle for today’s aspiring pilots. Whether their goal is to take to the skies for a career, personal travel, or simply for the sheer joy of flying, the dream is as vibrant as ever.  

Aerocadet’s Mission: Connecting Dreams to Reality Though Support  

Aerocadet has been at the forefront of helping aspiring pilots achieve their dreams. For over a decade, we have served as a crucial link between prospective pilots and the flight schools that can provide them with the necessary training. We recognize that one of the foremost concerns for individuals embarking on this journey is the financial aspect. As aviation enthusiasts ourselves, we understand the weight of this question. 

So, How can they secure the funding to propel their dreams skyward? Check out our website’s “Student Loans” section to learn more >>> 

Financing Options for International Students 

In recent years, aspiring pilots have faced a changing landscape when it comes to securing funds for flight training. Traditional sources of financial support have faced challenges of their own. Scholarships, once a reliable avenue for budding aviators, have grown more competitive. Government programs and grants, while still available, may not cover the full spectrum of training costs. These shifts have left prospective pilots in search of new and creative ways to fund their flight training dreams. 

International students pursuing flight training often face the challenge of financing their education. While the dream of becoming a pilot knows no borders, the reality of funding such an endeavor can be complex. At Aerocadet, we understand these challenges and are committed to helping international students explore various financing options to make their aviation dreams take flight. Here, we outline six common flight training financing options available to international students.

1. Personal or Parent’s Funds: Using personal savings or support from parents or family is one of the most straightforward ways to finance flight training. It allows students to cover their expenses without incurring additional debt. However, it may not be feasible for everyone due to financial constraints.
2. Local Bank Student Loan: International students may explore student loans from banks in their home countries. These loans are typically tailored to the student’s needs and financial background. They can provide a source of funding for tuition, living expenses, and flight training costs.
3. US Bank Student Loan (with a US Co-signer): Some international students can secure student loans from US banks, provided they have a US co-signer. A co-signer is a US citizen or permanent resident who is legally responsible for the loan if the student is unable to make payments. This option can be accessible to students with a strong US connection.
4. Personal Sponsor: Students can seek financial support from personal sponsors, such as relatives or friends who are willing to invest in their education. A personal sponsor’s contribution can significantly alleviate the financial burden of flight training.
5. Government Organization as Sponsor: Some governments offer financial support or sponsorship programs for students pursuing aviation-related careers. These programs can provide scholarships, grants, or low-interest loans to eligible students.
6. Business as a Sponsor: In some cases, students may secure sponsorship from their current employer or a business entity. This support can be particularly valuable if the student plans to return to the company as a skilled pilot.

For financing options 2, 3, 5, and 6, Aerocadet offers a Special Administrative Support Package (SLAS). This package is designed to assist students in obtaining a student loan or a sponsorship sanction letter. It streamlines the process, making it more accessible and manageable.

Navigating the world of flight training financing can be challenging, but Aerocadet is here to provide guidance and support at every step. We understand that each student’s situation is unique, and we are dedicated to helping aspiring pilots explore the financing option that best suits their needs.

Getting a full scholarship

One common question that arises is whether flight training scholarships are available. At Aerocadet, we understand the financial concerns of aspiring aviators and aim to clarify the landscape of flight training scholarships.

Please understand, that unlike academic scholarships for traditional educational programs, there are no widely available “flight training scholarships” for pilot training in North America, Europe, or other developed countries. This distinction arises from the fundamental differences between traditional academic studies and flight training.

Academic scholarships are typically offered by large colleges and universities to a fraction of their top-performing students. These scholarships are not significantly costly to the academic institutions, as they can accommodate additional students at minimal extra expense. For example, a university conducting a lecture class for one hundred paying students can easily admit an extra ten students (10%) to the class without substantial additional cost.

In stark contrast, flight training is highly personalized and demands extensive one-on-one flight instruction with each student. Flight training involves the use of expensive equipment, such as flight simulators, FTDs, aircraft, fuel, and more. Flight instruction cannot be conducted in large lecture halls, and students cannot be grouped in the same way as traditional academic classes. The nature of flight training necessitates individualized instruction tailored to each student’s unique needs. Thus, aviation schools, colleges, and universities, with a few exceptions, cannot afford to provide free flight training programs on scholarship to either local or international students.

Exceptions to this rule exist in specific regions:

1. UAE: The UAE government sponsors flight training for selected Emirati citizens (native-born Emiratis).
2. Germany: Lufthansa sponsors flight training for highly competitive German nationals.
3. Russia: The Russian government sponsors flight training for a few highly competitive Russian nationals.
4. China: The Chinese government sponsors flight training for several hundred highly competitive Chinese nationals.

In most of these cases, such scholarships are referred to as “Cadet Programs.” They require graduates to be nationals of the sponsoring country and commit to long-term employment contracts with the national airlines. For instance, the Chinese government typically demands a 60-year commitment from its graduates. Similarly, the Russian government does not convert Russian licenses to other ICAO formats if a pilot received an aviation scholarship for their initial training.

North America, including the United States and Canada, lacks fully inclusive flight training scholarship programs for international, and even domestic students. The sole exception in North America is for US and Canadian veterans—citizens who served in the military for a minimum of four years. They can qualify for a partial scholarship of up to $32,000 USD through the Yellow Ribbon program, also known as “The G.I. Bill.” Other students in North America typically rely on student loan programs to finance their flight training.

While flight training scholarships are not widely available, there are opportunities for academic scholarships within aviation programs. Aerocadet, for instance, offers a performance-based scholarship of up to $20,000 USD for its BSc in Aviation College Degree Program in Florida, USA. To qualify, students must maintain a 3.5 GPA (Grade Point Average) throughout their flight training and academic program.

Aspiring pilots must navigate the financial challenges of flight training, seeking out options that align with their unique circumstances and aspirations. While traditional flight training scholarships are rare, academic scholarships and student loan programs offer viable avenues for making the dream of flight a reality. Aerocadet is committed to assisting students in identifying the best financing solutions for their aviation journey.

Obtaining a student loan with a U.S. co-signer or sponsor

Obtaining a student loan with a U.S. co-signer or sponsor is one of the most accessible ways for international students to secure funding for their education. This method allows applicants to cover up to 100% of their tuition fees and living expenses if they have a guarantor (co-signer) based in the United States. The co-signer can be a close relative, friend, or someone with a significant connection to the applicant, and they must be a U.S. citizen or, at the very least, a permanent U.S. resident with an established credit history. The co-signer should also be employed and have a permanent U.S. address.

To help international students qualify for this option, we require the co-signer to provide a letter containing the following essential details:

1. Full Name
2. Address
3. Contact information in the United States (telephone and email)
4. Place of employment and employer’s contact information (company name, address, telephone)
5. Legal status in the United States (citizen or permanent resident)
6. Relationship to the student (uncle, cousin, close friend, etc.)
7. The specific amount of the loan they are willing to co-sign for (this must be a specific dollar amount)
8. Approximate credit rating, if known (600 is the minimum acceptable)

Once we receive the co-signer’s information, we will review it and may contact them to confirm the details. After verification, we will provide you with instructions for the loan application process. Both you and your co-signer will be required to complete a Sallie Mae online application form and digitally sign it to proceed with the loan application.

If you decide to move forward with this application, please follow the steps outlined below:

Step 1: Provide your co-signer’s information as requested.

Step 2: We will review and verify the co-signer’s details.

Step 3: Upon confirmation, we will send you instructions and the loan application authorization.

Step 4: Complete the online application form through Sallie Mae, including digital signatures.

Please note that Sallie Mae and Discovery Loans are the primary providers of student loans for international students attending eligible U.S. colleges or universities. Therefore, these loans are available for our 2-year AAS program only; fast-track programs do not qualify for student loans. In the case of U.S. fast-track programs, personal loans can be obtained from major U.S. banks or lending institutions with a U.S. sponsor. This sponsor will no longer be considered a “co-signer” but will become the primary loan signer, and the student will serve as the secondary co-signer.

Eligibility criteria for international students applying for loans with a U.S. co-signer typically include:

• Having a credit-worthy co-signer who is a U.S. citizen or Permanent Resident.
• Not requiring a Social Security Number (SSN) to apply.
• Meeting specific loan eligibility criteria, which may vary depending on the type of loan applied for.
• Typically, U.S. co-signers should have a credit score of 600 or better and sufficient disposable income capacity to qualify for a student loan.

Additional information:

If your permanent home address is an international address, you will need to provide a temporary or in-school U.S. address on the application. If you do not yet have a temporary U.S. address, you can use your school’s address in your application. Please remember to update us with your new U.S. address as soon as you obtain it.

During the loan approval process, you may be required to submit a copy of your passport and one of the following documents. We will notify you of these requirements as your application progresses.

Getting a student loans with a Canadian sponsor

In Canada, there are specific regulations for obtaining loans with a sponsor for programs such as FPAP-IND, FPAP-C, or PA-ATP-C. While the U.S. uses a guarantor-based lending system for international students, Canada does not follow the same approach. Therefore, international students looking to cover their tuition fees in Canada may need to work with a close relative or friend who is willing to become their sponsor by taking out a personal loan.

To secure funding for your education, you should directly contact your relative or close friend to inquire whether they would be willing to obtain a personal loan to sponsor your education. This method is the primary way to borrow funds to cover tuition fees for international students in Canada.

Getting sponsored by a local organization

International students have the opportunity to seek aviation scholarship sponsorship from local philanthropists, businesses, or government organizations with the support of our SLAS (Special Administrative Support) package.

If you find a sponsor who is a private individual (such as a relative) or a business or government organization, it is essential to take the following steps for the sponsorship to be recognized:

1. The sponsor must transfer the required funds to a specially created scholarship escrow account. Domestic or North American escrow companies can assist in opening such an account. The account should explicitly stipulate that the funds are earmarked for covering your tuition abroad, and they can only be reclaimed by the private owner or organization if you are unable to obtain a student visa.
2. It is important to provide not only the proof of funding but also the terms and conditions charter for the escrow account. This demonstrates that you have immediate access to the required funds. Liquid assets, such as savings and checking accounts, are preferred, as they ensure you can cover the costs of your education and access funds for the subsequent years needed to complete your flight program or degree.

By following these steps, you can present a strong case to the embassy, showcasing your immediate access to the necessary funds for your aviation education. This will enhance your chances of obtaining a student visa.

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What if I do not have a U.S.-based co-signer or a Canada-based sponsor?

If you do not have a U.S.-based co-signer or a Canada-based sponsor, we offer a special administrative support package called SLAS (Student Loan Application Support) to help you solicit a student loan or scholarship from local financial or government institutions in your own country.

With the SLAS package, you will receive the following documents in electronic format for a fee (see current pricing here):

1. Aerocadet Official Program Acceptance Letter: This letter will be addressed to you, the applicant, and will confirm your selected flight training program objectives, post-completion internship, and employment placement guarantees (conditional). It will also assess your suitability for flight training and pilot career development based on a multi-stage enrollment assessment conducted by a leading aviation training expert (an active or retired Airline Pilot Captain). The letter will include a QR code for instant online verification of your student status.
2. Global Air (BVI) Inc Conditional Employment Offer Letter: Global Air, an international ferry company, will provide an official letter expressing their intent to employ you as a trans-Atlantic ferry pilot, subject to certain conditions, such as the completion of your flight training and internship program with Aerocadet.
3. Flight Training and Internship Contract: Raich Aerospace Group LLC / Aerocadet will issue you a flight training and internship contract that outlines the terms and conditions, costs, and conditional internship and employment guarantees.
4. Raich Aerospace Group LLC Welcome Letter: This letter serves as a cover sheet for your Flight Training and Internship Contract.
5. Electronic Status Verification Student ID: Your official program acceptance letter will include a QR code for instant online verification of your student status. Your student status can be verified by viewing your student ID online on the studentverify.aerocadet.com server directory.

These documents will support your application for a student loan or scholarship from local institutions in your country. They demonstrate your commitment to your flight training program and future career in aviation.

Need more information? Visit our main blog article with the list of partial scholarship organizations here >>>