I’m planning on starting mid may or June but was wondering about the loan. I’m coming out of college so i basically need to finance the whole training from zero time. The estimated cost for me comes out to 110k. I do have my father to co-sign for me and his credit score/history are all good. Just wondering if you guys think it’s possible I’ll get approved for a loan for that amount of money under my circumstances. Thank you.
Daniel,
Your best off having this conversation with Kirk in ATPs Finance Dept but the situation you’re describing probably fits half ATPs applicants.
As long as dad’s a strong co-signer you should be fine.
Adam
Daniel,
I had to use a co-signer for my loan when I attended ATP, since then and having a job at an airline I was able to refinance and drop my co-signer. I also had an educational loan from attending a university, was not a huge issue other than my co-signer had recently changed jobs and I “fought” with the underwriters at Sallie Mae to come to negotiating terms. Credit lenders are going to make sure they can secure payment on the return; they’re lending you thousands of dollars in return to pay it back at a ‘premium’.
As Adam mentioned, I would speak with Kirk in the Finance Department if there is any doubt, Flight Training Loan FAQ / ATP Flight School.
Brady
Thank you! How can I contact Kirk? Also who do I need to talk to if I’m planning on starting soon? I got my medical yesterday just to see if I can get it and I did thankfully. And I wanted to start studying for the FAA writtens but I wanted to make sure I can get approved for a loan before buying all the prep courses.
Can I text them or is it only phone call/emails. Thanks
Daniel,
Call and/or email.
Brady
Daniel,
Major financial decisions are usually best discussed over the phone and not email or test. Give them a call on Monday.
Chris