Flight Training Financing - How to Finance your Flight Training

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Are you thinking about how you're going to finance your flight training?  Financing your flight training is not really that hard.  There are a couple of financing options that are available to you.
Before you start searching for other means of financing your flight training; you should check with your local flight school to see what type of flight training financing they offer.  Usually flight schools might have deals with local banks that could offer you reasonable rates for borrowing money for your flight training. 

Here are a few flight training financing ideas:

  1. Flight Training Scholarships:  There are many organizations that offer aviation related scholarships.  The great thing about scholarships it that you never have to pay them back.  Its free money for your flight training needs.
  2. Federal Pell Grants: Get up to $5,550 per year that does not have to be paid back.
  3. Government Grants: Try to find an aviation training grant offered by the government.  There are a few out there.  Grants do not have to be paid back so it's free money for your flight training.(very hard to find one)
  4. Grants-(Non Government) Grants offered by non government organizations.You don't have to pay them back!
  5. Credit Cards:  If you have a good credit score then you can finance your flight training with a credit card. Usually you can find yourself a credit card that offers lower interest rates then your local bank would charge you for a personal loan.
  6. Peer To Peer Lending: Borrow money from people that are willing to loan it to you. You can use a service like prosper.com to get a personal loan.
  7. Aviation Career Training Loans - are a great way to pay for your aviation training.  These types of loans are specifically used for technical training, trade school and other education programs.  If you have looked everywhere and still haven't found a way to pay for your aviation training then you should probably try and apply for a career training loan
  8. Upromise is the smart way to save for college! Upromise - helps families earn, save and pay for higher education.
  9. Try applying for a personal loan at your local bank.
Make sure you look into each option to see which one suits you the most. 
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