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best loan for training

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Ryan

Active member
Joined
Mar 15, 2002
Posts
39
Just wondering if anyone knows the best place to get a loan for flight training. Ive looked into my bank and the interest rate is OK but I was curious if anyone knew of any other options besides the bank. I have my full GI bill bennies(Im not sure if that will make a difference or not with the loan interest rate)

Thanks for any info
 
Key Loan

I have the Key Alternative Education Loan....it's been good so far. The AOPA is with MBNA (yuck!) and tops at 25K. When I applied for the Key (your school must be associated with them), they said my GI Bill had no bearing on the decision. Neither did the fact that I'd be unemployed. They only considered current credit rating.

Even if you don't need one, pick up a cosigner...it'll lower your interest rate.

G'Luck,

Chunk
 
Federal Stafford Loans have low interest and easy repayment terms. you have to be in school at least part time, though.

I recently consolidated all my govt. loans into one at a rate of less than 3%. By signing up for auto withdrawel for payments, I save an additional 1% or something. Makes a big difference over the life of the loan.
 
not aviation related but . .

It does have to do with being cheap (which most of us as pilots are).

Utahpilot, can I ask who you consolodated your loans through? I currently have all of mine through Sallie Mae and am looking to lower my interest rates.

Thanks,
FlyWest
 
let's see, you're asking for the fine details..........

I get mail from Nelnet (formerly Unipac). Seems like they are the ones who administer my loan(s). I think I did all the paperwork thru them.
http://www.nelnet.net/

My loans originally were thru UHEAA, Utah Higher Education Assistance Authority.
http://www.uheaa.org/
 
loan

the key bank loan is the way to go , just make shure that the school you go to offiers a degree also,,,,,,,,
:cool:
 

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