Financing with existing debt

Hi there,

So I am a college graduate and am already paying student loans. I also have some credit card debt and regular monthly bills, however I am interested in getting my commercial pilots license, but I don’t want to work while trying to get it within the 9 months of not getting paid. Does Wells Fargo, Sallie mae give you a big enough loan (obviously it’s based on what you’re approved for) to cover all these extra expenses besides just the schooling? Or is there another way to go about this?

you ask for a loan big enough to cover the flight training and some people add extra for living expenses, knowledge test and check ride fees.

I haven’t gone through the program yet, but looking at the monthly payment from flight school alone is quite daunting (I’m married, one kid, and a baby on the way). A common recommendation you see on these forums is it’s better to get in sooner than later, but, if you have residual debt from school, it might be a good idea to buy yourself some time, and pay that off as fast as you can. Get a job using your major, and then deliver pizzas in the evening while UBER driving on the weekend if you live in a location that allows for that so you can blow that debt away. It would be beneficial to you at ATP because you wouldn’t be putting as much mental energy into old debt. That’s what I am doing.


Short answer is yes that’s what many people (myself included) do.



I have about 30k of student loan debt from college, and Sallie Mae approved me for the full amount for credit with private plus a bit extra for examiner fees. I did have a co-signer with an excellent credit history though. YMMV