Not approved for financing

I have been relentlessly trying to get approved with my co- signer for the airline transport pilot program., but every way that I try and apply I get denied. I had given up on it for two months until just now I have a delayed flight from houston to Chicago and started talking to the Captain of the crj700. He told me his story and that he went through the atp program and that it was the best way to do it; which I agree with. I don’t really want to spend the next four years trying to get my bachelor’s and still have to pay for training. I am lost and need help. Is there any other suggestions than a standard student loan. I have a love and passion for aviation and have flown 172 and cirrus sr20 as a student and every time I get away from aviation it just keeps coming back to me in the weirdest ways. Long story short my life long dreams have been crushed multiple times but little opportunities keep showing up I just can’t get the cash to get my instruction. PLEASE HELP!!! Does anybody know a bank that will approve my loan other than sallie Mae or wells fargo?

Hi John,

Unfortunately since student loans are unsecured they can often be difficult to obtain. Do you or someone close to you own a home? If so there’s always a home equity line of credit. Since the loan is secured by property they’re generally easier to get. Not sure what else you can find?


I would advise you to try to work on your credit. Paying Down open credit lines, Watching your inquires, Making on time payments, also make sure you have a good mix of credit. Not just credit cards, but auto loans too.

I myself currently in the same boat, my only problem is high utilization and length of credit (5yrs). Currently i’m in the process of paying down all my credit cards, and as of today i’m sitting roughly around a 710 credit score with balances on some cards. Hopefully once I’m done paying I should be ok and at least be around a 750 when I apply. :slight_smile:

There is a loan offered by the state of Kentucky called the Kentucky Advantage loan that is a much lower rate and supposedly a bit easier to get than either Sallie Mae or Wells Fargo. The catch is that is is only available for schooling or job training in Kentucky. So that means you would have to be willing to go to the Bowling Green location in order to use it. If finances are the only thing in your way you should definitely check into this. I’ve heard from several students at BG that this loan was the only reason they made it in at ATP.

Thank you! I will be trying to apply and let you know the results, as far as moving to Kentucky I do what it takes to be successful.
Best regards-John M. Shipley