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Finance Your Training

As most are aware, the current economy has limited the availability of private loan sources. Aviation Training is vocationally based, therefore it is required to be enrolled in an accredited university degree program to obtain federal funding.

Private “alternative” loans are the primary method of financing an education in aviation. Falcon Aviation Academy has the ability accept both private and federal loans. To obtain federal funding the student can enroll in the Aviation Management Online Program with Utah Valley State University.

Other forms of financing are available such as through your local bank or credit union. Some individuals choose to use a personal credit card. Additionally, there is the ability to obtain private scholarships, and grants through detailed research and applying for as many different opportunities as possible.

Scholarships

There are many opportunities to apply and receive aviation scholarships to fund a portion or even all of your flight training. The best option to locate such scholarships is to complete an internet search. Below are some links that may assist you in this search; keep in mind that many scholarships have deadlines and application requirements so read all the details before submitting.

Another great resource to learn about aviation funding is

Information to have ready for a Financial Application

Social Security Number
Permanent Address
Current Income Status

Loans

Falcon Aviation Academy uses AOPA as the main source for flight training funds. Designed for the student that wishes to fly 1-5 times per week. Interest Rates vary.

How Much Financing Do They Provide?
The maximum amount financed is limited only by the applicant’s income, debts, and credit record.

Citizenship Requirements?
Please note that at this time we do not offer financing through schools located outside of the 50 United States. Normally, applicants that are not U.S. citizens will require a U.S. co-borrower with an established credit record.

Still Have Questions?

Call 770-486-2225

VA Benefits with the G.I. Bill

If you qualify under the terms of your GI Bill, you can use your benefits towards flight training. Falcon Aviation Academy is a FAA Part 141 Approved flight school that offers each of our courses under FAA Part 141. Students that have GI Bill or VA Benefits can train for Instrument Rating without the requirement of 50 hours PIC Cross Country time which is otherwise required under FAR Part 61

Do my benefits cover any expenses for Private Pilot?

Unfortunately, at this time the GI Bill benefits do not cover any expenses for flight training for the Private Pilot’s License. The student must provide the funds. A Private Pilot’s License is a prerequisite for your benefits to kick in. The cost of obtaining a Private Pilot’s license can be anywhere from $6,500 to $14,000 depending on which course is chosen, how often the student flies, etc.

However, once you do obtain your Private Pilot’s License, the VA will pay up to 60% of additional ratings and certificates.

What does it mean to be a VA Approved Flight School?

Based on the Federal Aviation Regulations, Flight Schools can operate under either Part 61 or Part 141. Most flight schools operate under Part 61. In order for a flight training facility to be approved for VA Benefits, a school has to meet the much more stringent requirements of FAR Part 141. Once approved , a school can then apply to the Veterans Affairs Administration to be approved for VA funding.

So what can I expect the G.I. Bill to pay for?

After successfully obtaining your Private Pilot’s License with your own funding, the GI Bill benefits will then pay for up to 60% of all the training costs for any advanced pilot ratings (e.g. Instrument Rating, Commercial Certificate, etc.) at a VA and FAA Approved Part 141 flight training facility. Benefits do not normally cover medical certificates, books, test fees, or housing expenses incurred during your training.

If you would like to complete your training with Falcon Aviation Academy, the total cost of flight training will be between $9,000 – $40,000, depending on the courses you choose. With the GI Bill benefits the total cost of training (after you have paid for your Private Pilot License) will be reduced by up to 60%.

How much will my training cost me at Falcon Aviation Academy? If, for example, the cost of your training here is $39,000. VA Benefits will not cover housing or the Private Pilot’s Certificate, or for books, fees, and FAA exams. The remaining is reimbursed back to the student at a maximum of 60%.

How does the VA pay me back?

The Department of Veterans Affairs will reimburse an eligible veteran, service member or reservist for dual and solo flight training, preflight briefings, post flight critiques, and ground school, at a rate of up to 60%. This allowance is paid monthly by the VA to a student based upon actual training certified by the approved flight training facility as indicated on VA form 22-6553c, “Monthly Certification of Flight Training”. Entitlement is charged based on the rate of one month for a benefit amount equal to the full-time institutional rate (plus dependents where applicable).

How do I apply for VA Benefits?

If you have never applied for benefits, a student must complete and submit a VA Form 22-1990. If the applicant has entitlement, the VA will issue a Certificate of Eligibility, informing the claimant of their entitlement to education benefits.

Where Can I Learn More About My GI Bill Benefits?

Call the Veterans Administration Toll Free at 1-888-GIBILL-1 (1-888-442-4551) or, Click the Link Below to Connect to the VA Website, at

http://www.gibill.va.gov