Finance Your Flight Training With Prior Proper Planning
- Lima Flight Team
- Jul 1
- 3 min read
One of the biggest concerns of student pilots is how to finance the training that it takes
to earn a private pilot license (PPL). For those that wish to obtain higher ratings and/or
are aiming for an aviation career, that concern can increase as the number of hours
needed for each stage of training begin to add up.
A simple approach to the financing issue begins at the beginning. You’ve done your
homework, researched flight school/independent CFI options, taken a discovery flight
and have now decided to pursue your PPL (and perhaps advanced ratings). Now – and
this is important – before you begin your aviation journey, take a look at the overall
picture, including your goals, your time frame and your budget. It’s time to come up with
a plan that will allow you to not only stay on track, but to do so without breaking the
bank.
First, estimate the total cost of earning the rating you desire. You’ll begin with a PPL
(and work up from there if your goal is to become instrument/commercial rated).
Research flight training costs in your area – directly contacting flight schools and
instructors and asking about their rates is an efficient way to do this.
Next, determine how much you can realistically finance on your own, keeping in mind
that you will have to be flexible and adjust your timeline accordingly. Work out a budget
that includes all of your living expenses in order to determine how flight training will fit in.
Continuous training – without breaks for reorganizing financing – will keep you moving
forward through the curriculum - should be the goal.
Then search and apply for aviation scholarships. Also look into any grants or federal aid
for which you may qualify. Be sure to do this early enough in the process that you’ll
receive any funding you may be awarded within your training time period.
Be aware that airline-sponsored cadet programs and military service offer additional
roads to flight training that ease the financial burden, if becoming an airline pilot or
joining the armed services is part of your plan.
You may also want to consider and compare flight school payment plans and aviation
financing services that can fill in where personal finances and scholarship funds leave
off. Do your research carefully, however, as terms of repayment vary widely depending
on which option you choose.
Understand that borrowed funds must eventually be repaid. Have a post-training plan
for how you intend to meet future repayment obligations. A good rule of thumb is to
borrow only what you’ll need for the next stage of flight training you are likely to finish.
Remember that the question is not necessarily will you be approved for a loan but will
you be able to repay the loan after training without overextending your finances.
If you think ahead, do your research and take a realistic look at what you can manage
through personal financing, the other options for flight training funds should become
more clear, in terms of how they fit in with your plan. The additional time necessary to
make and plan in advance will ensure that you begin your training with a solid financial
base that will allow you the freedom to soar.
Some good initial resources:
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