I am wondering if anyone knows when the funds from the loan are released in order to purchase the training materials listed on ATP’s website? (iPad, headset, etc)
Eric,
The additional funds that you include (examiner + knowledge test fees, training materials, and housing/living expenses) will be dispersed on the BankMobile Vibe Debit Card that we send out in your training bundle. This card functions as a standard debit card. If you’d rather have the funds distributed into your checking account (as a direct deposit), that is an option as well.
Examiner and knowledge test fees will be available to you on that card (or in your checking account) 5-7 days before a checkride. DPE’s require the fees to be in cash, so that should allow time for you to visit an ATM and take those funds out.
Housing and Living expenses (up to $2,000/mo) are distributed to you monthly for you to pay your bills.
Training material funds are typically available 4-5 days after you start training. We recommend that you purchase these materials upfront and use the loan as reimbursement to yourself.
Hope this helps!
Addison
Addison,
Thank you for the information. I have one other question. I plan on starting early next year, either January or February. Would you suggest that I hold off on placing my deposit to secure a start date until I have my First Class medical in hand? I have secured financing and I have taken the admissions flight as well.
Eric,
Yes, you’ll need your First Class Medical prior to reserving a start date.
Addison
Ok, thank you.