Does anyone know the best way to fund pilot training?

Question

I'm currently at university and intend on flying as soon as i finish my degree, however the one thing that is going to hold me back will be the money! does anyone know any tips on how to keep the funds down whilst at the same time building up the hours and experience? i want to go into commercial helicopters eventually but want to start on fixed wing first. Any advice or help would be great!

Answer 1

SAVE EVERY PENNY - LOOK UNDER COUCHES, ETC.

Answer 2

Finish your degree and go apply for OCS in the Air Force or Marines.  You will enlist as an officer and they will PAY you to train and fly!

Answer 3

get an armed forces bursary they will pay you to complete your degree and pay for you to train that is is you want to become a military pilot you can find out about this from your local careers office. for becoming a commercial pilot you can try and get a bursary from the employer. if you want to get a private pilots license save up

Answer 4

No keeping the funds down. Sorry. Flying's expensive.

Answer 5

Some Community Colleges have flight training programs. If you take take the course through the Community College, you can get financial aid.

Answer 6

Military

Don't rule out the military as an option if you think it might be for you. They are the only organization that will pay for your training, but you do have to commit several years. Do your homework before signing up as not everyone who joins automatically becomes a pilot. All branches fly helicopters, but Army uses them the most.

http://www.goarmy.com/

http://www.gocoastguard.com/

http://www.navy.com/

http://www.marines.com/

http://www.airforce.com/

Airplanes

It is a common misconception that learning to fly airplanes first will save you money. I didn't know from your question if you really wanted to fly both, or if airplanes would just be a stepping stone for you. If you really want to fly helicopters, then I recommend just flying helicopters as the most efficient route. The claim that airplanes will save you money is based upon the assumption that you will finish your add-ons in the minimum time, and that seldom happens. Also, it neglects the fact that you only need 150 hours for a helicopter commercial versus 250 in airplanes.

If you really do want to fly both, I still recommend flying helicopters first as the most efficient path. The transition from helicopters to airplanes is easier for most people than the transition from airplanes to helicopters. They are both very rewarding and very challenging, but this path will minimize your costs for doing both. Run the numbers for yourself based on costs in your area prior to starting.

Financing

Unfortunately for aspiring pilots, what John B said is correct. Civilian training will be costly no matter what you do. Please plan the finances carefully before you start, and try to talk to people who have gone through the financing process themselves to get a feel for what lies ahead. Here are some ideas:

These two offer loans for training, but they may not be adequate to cover the entire cost, especially in a helicopter. I also understand that their interest rates are rather high:

Pilot Finance

http://www.pilotfinance.com/pages/539359...

AOPA

http://www.aopa.org/info/certified/funds...

Sallie Mae offers student and career loans. Check if your flight school is set up with them. I have heard mixed reviews from student pilots, so caveat emptor. Understand fully the terms, repayment requirements, and interest rates of any loan prior to getting it.

http://www.salliemae.com/

Also look for aviation college programs like Utah Valley State College. You train at a flight school of your choice while doing UVSC's online classes. You don't need an aviation degree to be a pilot, but you may have better financing options through them. Many people have had success with their program. The disadvantage is that you will have the additional costs of their tuition, and the online classes are designed for airplanes instead of helicopters. Take a look at them and see if it may work for you:

http://www.uvscaviation.com/

Spend some time on the following helicopter websites. They have a lot of information, as well as discussion forums for pilots and flight school listings. The forums would be a good place to search for others who have been through the financing process:

http://www.verticalreference.com/

http://www.justhelicopters.com/

You can find helicopter flight school listings here:

http://www.sacusa.com/1directory/states....

http://www.verticalreference.com/helicop...

You can find general flight school listings here:

http://www.flightschoollist.com/

http://flighttraining.aopa.org/learntofl...

http://www.bestaviation.net/

http://www.aviationschoolsonline.com/

You can learn more about becoming a pilot in general here:

http://flighttraining.aopa.org/learntofl...

http://www.beapilot.com/

http://www.faa.gov/pilots/become/

Aviation is an awesome and rewarding career, but you can get burned if just dive in head first. Talk to pilots, research schools, get information from several different sources, figure the costs, and go into it fully prepared and knowledgeable about every possible path towards your goals. Don't start until you can prove to yourself that the path you have selected is the right one.

Good luck!