Real Answers from Real Pilots

Financing after college

Does anyone know if having debt from college would lower my chances of being able to get a loan from Sallie Mae for flight training? I would most likely be able to get a cosigner with pretty good credit to cosign the loan with me but I would be interested to know if going to college first is shooting me in the foot? Or help me since it shows I have a better time getting hired with a back up degree?

Ben

Ben,

Of course the lenders are going to look at your debt when you apply and that will be a factor in making their decision. That said they’re used to seeing it and it definitely shouldn’t be a shot in your foot. In all likelihood you will need a co-signer either way.

Adam

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Ben,

Call admin and speak with them about this topic, they are the experts in this area and can best guide you.

Chris

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Ben,
I think it really depends on the financial health of the application. It is not uncommon at all to need a co-signer, most do. Plus many people have leftover college loans as well. I would reach out to the finance department for specific details on your situation.
I think the benefits of going to college prior to flight training outweighs what (if any) impact it could have on your loan. The four years of study habits you learn and the maturation that happens will help prepare you for the challenge. Plus, no since in creating more stress on your regional experience like adding in online classes if you don’t have to.
-Hannah

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