Are there any other ways to finance your loan?
Can you become an instructor at ATP even if you did not attend ATP?
Not sure I understand your question on financing? ATP works with a few lenders they can help you with. Beyond that the options would be those available to anyone depending on your personal situation. If you own a home you child get an equity line or second mortgage, borrow from family, sell your possessions. Again I’m not sure what you’re asking?
As for instructing for ATP without attending while it’s not prohibited I can tell you it’s very rare. First obviously it’s best for ATP to have instructors who are familiar with the program. Having done the training with ATP ensures that’s case. Further and more important, ATP has dozens of students graduating monthly competing for coveted instructor positions. If they were to give those jobs for people who didn’t train with ATP and hadn’t invested a ton of money doing so, that would be a huge slap in the face to those who had.
Financing as in different loan companies, out of pocket, etc. It has to be paid all up front?
The funds have to be available upfront but they get dispersed throughout the program. You can speak to your own bank or contact ATP admin and they can tell you the options they currently offer.
Once approved for the loan, are you able to pay cash for the training to avoid tapping into it? If that’s not an option are you able to start paying down the loan while in training?
Yes to both. For the individuals that are half self-pay / half-finance, I recommend using the self-pay funds first so that you are not accruing interest on the loan. In this case, the loan sits until we certify it for disbursement.
Payments are divided into four while you train (with a $995 deposit to reserve your class date), and that schedule can be found here.
Sallie Mae has a few different repayment options, and you’ll be able to view those once approved (two of the three options include making payments on the loan while training - the amounts are different based on your interest rate.)
Hope this helps!