Flying can be expensive.
No… flying IS expensive. From experience I can tell you that flying can and will burn any and all money in sight. Unfortunately, for the recreational or casual pilot, flying is an expensive hobby to have. Also, for the career minded pilot, it can be very expensive to get where you want to be. However, I have found some ways to control the expenses and get the most out of your hard-earned money. I have also found some of the, shall we say, what not to do’s.
As a student pilot seeking a private pilot certificate, I hated the fact that I was burning money much faster than I could earn it. My temporary fix to that problem, which I’ll talk more about later, caused me more pain than it was worth later on. Today I am a flight instructor so ultimately it worked out but I am here to share my experiences to keep you from having to make the same mistakes.
Free Money
Scholarships and grants are two of the best ways to pay for flying because, well, you are not paying for that portion. The Aircraft Owners and Pilots Association (AOPA) has a list of scholarships to get you started. The FAA also has a list of scholarships and grants you should take a look at to see if you qualify.
Also, check with your local flying clubs, Fixed Base Operator’s (FBO’s), and local business owners for scholarships. One mistake I made in searching for scholarships was that I was focused on aviation scholarships. I missed out on some other scholarship opportunities that are for vocational students, or that don’t require you to attend an accredited school to apply. I will leave you to do your own research on the subject but as an example, I found several private companies that give out cash scholarships if you take the time to apply.
Become an Intern
Interning for a flight school or other aviation company is a great way to help pay for flight training. Some schools like American Flyers have programs that allow you to work at the front desk or drive the fuel truck at the same school you do your training. They may even offer discounts on flight training rates since you are an employee.
You could also work for other aviation companies like FBO’s (fixed base operators). Some FBO’s offer flight training and sell fuel and perform maintenance on their own airplanes as well as other aircraft. Ask around at your local airport so see if you can trade work for flying, plus you will get to be around airplanes and pilots all day. It’s a great way to meet people that have what you want and may be able to help you get where you want to be.
Financing
After exhausting all the scholarships, grants, inheritances, or internships you can find, you may look into financing. This is the part where I confess my blunders. I got impatient with the whole process and decided it wouldn’t hurt to put some flight training on my credit cards. Plural. After maxing out two credit cards and paying way too much interest on them for several years, I have learned my lesson.
There are some better options for financing your flight training. Pilot Finance Inc. offers financing for part time flight training for a low down payment and low monthly payments, and decent interest rates ranging from 12%-18% depending on your creditworthiness.
The AOPA also has a financing option. Their rates range from 9.99%- 11.99%, and you need a minimum credit score of 660. Get more information about financing with AOPA’s partners here.
The costs associated with flight training are one of the biggest barriers to entry in the aviation world. Finding ways to offset the costs and make it affordable can help ensure there are no interruptions in your training. Make sure you know how you are going to pay for it before picking a flight school.