Real Answers from Real Pilots

Initial Deposit

I heard somewhere that after you put down your initial deposit of $995 to secure a start date that ATP gives that back to you later in the program. I can’t find anywhere that says that so I’m just wondering if that’s true or not.

Thanks!

Kyle,

I’ve never heard that and why would they vs simply applying it to your training?

Adam

Adam

Thats what I thought I just wanted clarification.

Thank you adam!

I received my deposit back…and then promptly put it towards my loan.

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I also received my deposit back and subsequently put it towards my loan as well.

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When did you guys receive your deposit back?

I got a message about it the day I started ATP and it cleared through my bank two days after that, so it was pretty prompt.

My bad, apparently you do but as the others have said, it already has a home :slight_smile:

Adam

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Thank you all for your responses!

Kyle

I’m sure being able to knock off a grand or so off the loan is a great start to paying that sucker off. That’s roughly 1 to 2 months of normal payments which if applied to the principal is about 3-4 months of principal. That could decrease monthly interest accrual by about $9.00 per month, which isn’t much, but 3-4 months of principal is pretty awesome to get knocked off.

Kyle, I’m starting in June. The finance department told me to contact them on the first day of class, and they’ll reimburse whatever card you used to pay that initial deposit. Best of luck!

Hey guys,

So this is the first I’m hearing of something like this. Does that mean the training is only $63,000/$80,000 flat? I figured the deposit was towards your tuition and spent money?!?

The deposit is to just hold your start date as there is a wait list at a lot of places. Once you fulfill it by starting the program you get it back. And yes the training is that flat, but you also need to include fees for all your checkrides.

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I too am now just learning this, glad im getting that money back although it will indeed probably be going straight towards my loan, anything helps! :smiley:

I can’t remember exactly but it was within a few weeks after I started. As others said, it holds your class seat and also funds the shipment of your books, shirts, etc. If for whatever reason a potential student changes their mind, ATP doesn’t loose money on they supplies they just mailed out.

Let’s clear this up.

The deposit is charged to secure the start date and get books and other study material sent out to the students. For those that finance their training, the deposit is then refunded to the credit card once the loan disperses. Essentially this is just shifting the money from the credit card to the loan. It is not a “refund”, it is a shifting of the source of the money. The price of the program remains as advertised.

Chris

So that $1000 cannot be taken from the loan, since it would be going back to it anyway?

Marwan,

You have to pay the initial $1,000 up front, but you can be reimbursed for it via your loan if you so choose.

Chris

Marwan,

If you finance the full cost of the program with Sallie Mae and accept your loan terms, we can take the $995 directly from the loan amount.

Addison

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