Real Answers from Real Pilots

Sallie Mae Financing

I’m looking to go to ATP full-time. I have a PPL and would enter the Airline Pilot Career Program. I would need to finance my training. My FICO is not the best (688) but varies quite a bit between creditors, Equifax being the highest. I am employed though and am salaried at about $165,000 per year, and would still go to ATP full time as I only work 3 days a week as a first responder. Would I still need a cosigner? Reason I ask is because I perused this forum and saw posts from people saying they were denied with 800+ FICO scores. 800 is perfect, less than 1% of the population has a FICO of 800+. I been hearing Sallie Mae has relaxed their borrowing requirements a bit.

David,

You really need to speak with Kirk in finance (call+1 904-595-7950) as he’s the expert. That said if your score is below 700 you very well may need a co-signer. These loans are unsecured and therefore are the requirements are stricter.

Adam

Thanks! I figured my income would be a foot in the door. I’ll give him a call tomorrow!

I was approved today with a cosigner

1 Like

Great news! Today is an exciting day!

Tory

Congrats! That’s great! When are you thinking of starting?

Adam

David,
Congrats! That’s the first big hurdle for many starting the ATP program. Next up, schedule that intro flight and tour. (I believe you get the intro flight for free since you are pre-approved for the loan)

-Hannah

Thanks! I’m looking at starting the September/October timeframe in Long Beach as I am home ground-schooling instrument and commercial right now. Going to go upgrade my Class II to a Class I medical. Got my PPL in the DA-40 in Long Beach, so I am familiar with the Airport as well as all the SoCal airspace.

David,

Are you planning on doing the Fast Track program or the Flex Track? Even only working three days per week, I would not recommend the Fast Track option. It is a full time program, taking three days out of your schedule per week will not allow you sufficient time for studying, flying, and sleep. If you are planning on working, you need to do the Flex Track program.

Chris

I will be taking an extended time off from work as I have saved several thousand hours of vacation time. 6 months off. I will be fully devoted to the program as I am going to transition from my current career to be an airline pilot.

David,

Good to hear, I just wanted to check and make sure on that one.

Chris

Yes indeed. I got my PPL in 3 weeks while I was working. Talking about being exhausted! Studying before hand made it possible.

David,

Congratulations on your finance approval! Keep in mind when coming in with a PPL, we require that you have 78 TT with 8 of those hours as XC PIC.

We look forward to having you start with us next month!

Addison

David,

Sounds like you’re on your way to a new journey! Getting a head start on the instrument will give you an advantage, if you’re taking the writtens early, be sure to take both the IRA and FII together.

Brady