How do can you finance your career when your in this situation?

ATP Admissions, Housing & Finance Questions
1

Good evening everyone,

I find myself in a strange and a little frustrating situation. I have always dreamed Of becoming a commercial pilot, but for financial reasons I haven’t been able to accomplish it. I tried going to college, I tried going to IT education programs, and quite frankly I hated it. I came to the conclusion that I would be miserable if what I do for a living doesn’t include flying planes. I’m 24 years old, I’m married, no kids at the moment. Unfortunately for me, I don’t have any family in the US, and I don’t know anyone who would help me as a co-signer to qualify for the private loans. So my question is: is this it? I don’t have any hope or option ? If I can’t get a co-signer does it mean I won’t be able to even try going through the program ? Will the lack of a co-signer be the sole reason why I won’t be able to become a pilot ?

2

Nicolas,

Sadly the answer is maybe, at least for now. The reality is flight training is expensive and the cost is often the biggest obstacle many perspective pilots face. You’re asking the bank to loan you a considerable amount of money with no collateral and no knowledge of your abilities. That’s a big risk for them and banks don’t like risk.

The good news is you’re young. Work hard, save some money to lower the loan amount and over time you’ll increase your chances greatly.

Adam