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Flight School Loan for Commercial Pilot’s License


This loan application is for flight school training to the tune of $50000. The applicant wants this loan to complete two phases of flight school training – 1) Private Pilot’s License 2) Commercial Pilot’s License. You will see the complete breakdown of this young man’s expected training and aircraft rental expenses on his journey to become a full time professional pilot.

The loan amount requested at $50K is also broken down into a calculation based on the APR that was approved for this loan. The applicant is only 21 years of age, and has full time delivery job in San Diego. He has a co-borrower on the note, and is currently living with his folks still. The only reason he was ultimately approved for this loan was due to his father’s extremely strong credit rating. The secondary borrower lives in Imperial Beach, CA which is a very short drive to the municipal airport where he plans to take his training.

All of his private license training will be taken at the Brown Field Muncipal Airport with First Flight. The bank that the loan was approved with was the Pacific Trust Bank in Chula Vista.

It’s a huge commitment to go after the dream of being a commercial airline pilot, and the financial commitment is very big. Usually, young pilots in training have to have family money, a co-signer or co-borrower, or a drive so big that they pay for their way through training hour-by-hour. Getting a personal or private loan for the purposes of paying for flight training is not for the light of heart. The competition is fierce because pilots LOVE flying and they are willing to work long, long hours make their dream come true – they’re also willing to go into personal debt for $50,000 and higher to make that dream come true. You have to really want this bad if you don’t mind having a $50K debt with a bank or creditor for an extended period of time.

Flight Training Loan $40000-$50000 for Private and Commercial Pilot’s License (paying it off)

The other problem is that even if you are successful in getting a full time job as a commercial pilot, the starting wage for a co-pilot (where all commercial pilots start) is very low, so making the monthly payments on your training loan is difficult when you consider living expenses, rent/mortgage, perhaps family, food, transportation, etc. It’s a tough go. Our advice from California Loan Find (if you are not born into money) is take your time working and paying for your flight hours one at a time, and avoid any larger sum loans that may become a curse over time. Especially if you change your mind during the flight training process and want to pull out.
Loan Product Description :: Flight School Loan – Private and Commercial Pilot’s License (the application)
How Much Do You Want To Borrow? :: $40,000-$50,000 (50K is most common)

Why do you need a loan? :: I need this loan so that I can get my private pilot’s license training and acquire my basic private pilot’s license, and then I need an additional 250 hours of flight training to apply for a job as a commercial pilot. There are different milestones with the private license, such as instrument flying, night flying. With the commercial license there comes with it more, such as twin engine time. Below is summary of why I need to borrow a minimum of $40,000 and more likely $50,000 USD. I want to take all my initial private training at a flight school called First Flight in San Diego. I will be training in a Cessna 182.

The United States FAA requires that I have at least forty hours of flying time in order to get my private pilot’s license, but in reality I am going to be looking around eighty hours of flying time to get it. I’m not the best pilot or student by any stretch of the imagination, so I think I am dealing with reality here.

Flight Training Loan $40000-$50000 for Private and Commercial Pilot’s License (the total cost)

It’s going to cost me about $12,000 dollars just to get my private license, and then the extra hours to be a commercial pilot will cost me another 250 hours of flight time. Basically it costs $150 hour for each hour flying, which includes the aircraft rental and the CFI (Certified Flight Instructor). So $150 x 250 = $37,500.

So the total amount of the loan will be $37,500 + $12,000 = $49,500, and rounded up to the full loan of $50,000 USD.

This is realistic amount of money to borrow to get enough flight training and hours to be eligible for a commercial pilot application with an airline. Of course every regional or major airline has different criteria for their pilot applicants, and some require a certain amount of twin engine aircraft flight hours, and some require at least 500 hours of logged flight time in a commercial cockpit. It varies from carrier to carrier, but this is the starting point since 2011.

Your employment field :: I work in San Diego as a delivery person for a florist. I have been doing this for 1 year now.

Your job title :: Delivery Person

Length of Employment :: One year (as above)

Time at Address :: 12 years (I live with my parents still in San Diego)

Age :: 21

Flight Training Loan $40000-$50000 for Private and Commercial Pilot’s License (credit score)

Anything else you can tell us to speed up approval? :: I have a Visa card which has a perfect credit rating, and I have never missed a payment on it. It is the only form of credit I have ever had. I have always been employed and I will ALWAYS be employed to make sure I can make the payments as agreed in your loan agreement. I have a cosigner to so you are fully secure on the loan.

Sex :: Female

Marital Status :: Single

Ever Claimed Bankruptcy? :: No

What City/Town, County/Parish/District/Burrough, and State is your primary address? :: San Diego, California (San Diego County)

Zip: 92126

Have you checked your credit report lately? :: No

Would you consider your credit rating to be? :: Excellent – Good – Great – as good as it can get.

Collateral? :: None

Down Payment? :: None

If down payment, how much? Explain please. :: N/A

Do you a have co-signer or co-borrower? :: Yes. My parents said they will cosign for me. My Dad will sign for me.

Loan Officer Conclusion(s) :: This loan was approved based on the credit history of the co-borrower which is the applicant’s father. The loan was approved very quickly due to the a very strong credit rating of his father. His parents own a 2.4 million dollar home and have a thriving business. The parents could have easily just given their son the $50,000 in one cash lump sum, but obviously they want their son to build his credit rating up with this loan, and be the master of his own domain. Good parenting.

Flight Training Loan $40000-$50000 for Private and Commercial Pilot’s License (the calculation)

Principal Loan (flight training) = $50,000
Interest Rate (APR) = 9%
Payment frequency = Monthly
Length of term = 5 years

Payment Summary;

Total Amount: $61,435.35
Total Interest: $11,435.35
Monthly Payments: $1,009.90

As you can see, this is a large lift at nine percent APR. Fairly costly considering the earning power the applicant presently has and will ultimately have in the future, if and when he becomes a full time commercial pilot.

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6 Pre-apps

  1. John Koch wrote:

    Great articles and very informative. Being a pilot is on of the noble profession. You really need great training for a pilot to handle a very great responsibility. Your post will aid them to select a better flight training schools or program. More power to you.

  2. CLFadmin wrote:

    Thanks John. My father is a retired pilot and I was an AME for 21 years. I did my apprenticeship at a flight school so I enjoyed all the new pilots in training as they logged their flight hours and endorsements, and some going on to becoming regional and national carrier pilots.

    Like your site too. 😉

  3. noel wrote:

    hello I have been interested in learning to fly as a professional airline pilot for as long as I can remember ,the problem is that I have lousy credit and no banks will even look at me.i plan to attend ATP FLIGHT SCHOOL,the cost is roughly85k. the good thing about this school is the fact that after training they give you a job as a flight instructor and when you reached 1500 total hours you are given a guaranteed interview with one or more of their regional airline partners…this is a wonderful life-changing opportunity that I am not able to take advantage of due to my lousy credit..if I get that airline interview I will land that job..pun intended….bad things happen to good people all I need is a chance…thank you.

  4. Jim wrote:

    I’m looking for 20,000 to purchase land that can be in both names until financed in bradenton fl popular destination needing housing the land can be bought from 8000 to 12000 and that’s what I really need as they don’t offer financing for land but the extra money would go towards a 40ft trailer 400 square foot tiny home I saw online for 2200 then another tiny home that I can finance for 131 a month

  5. James wrote:

    Rent a enclosed car hauled for tiny home 131 a month check prices near you…
    Land is starting to be financed by private lenders, but the people of the world need more close to home
    Looking to buy land in a town tiny house friendly
    I Need 15000-20000 can hold property as liability
    Many need and would want this deal and technically you would be called a predatory lender for charging 25% on a 6 year loan
    20000 total 400 a month that’s rent.. but more additions to the home. I’m looking for someone to adist me in assisting others on the tiny house revolution 12,000 cash for bradenton land and with sewer and water and electricity should fit 2 to six tiny houses. I scrounge for the best furniture and believe I can make the first self sufficient tiny home. I could list new ideas off that you could use as collatoral or maybe you like my thinking and want more hearty nonsense call Me

  6. Claudine wrote:

    I need to borrow $10000 for fight attendant training school. Flexible loan will do. I don’t know what my credit score are.
    I stay in Dallas,Texas
    I need the loan as soon as possible

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