Our Preferred Customer Interest Refund Program is a simple way for students to earn back up to 25% of their interest. If the student makes all of his or her payments on time, the interest will be recalculated 3 percentage points lower than their contract rate and we will refund them the difference. For customers that make their payments on time, the effective interest rates charged work out to between 9%-15%.

There is no maximum program size. The maximum approval size is determined by the student’s payment history, income and employment history, outstanding debts and ability to make the agreed monthly payments. The maximum amount a student is approved for will be indicated on his credit response.

A typical training program for a private pilot license usually includes 55-65 hours of aircraft rental. We consider partial programs of 25-44 hours of aircraft rental on an exception basis, but with shorter repayment terms to reflect the smaller program size. If you plan to submit a Prepaid Flight Training Agreement with 25-45 hours of aircraft rental, please call us before you do so at (800) 667-0201. This way we can provide you with an estimate of the repayment terms and monthly payment size of the program, which you can convey to the student.

We primarily look at two things when assessing a student‘s creditworthiness. Credit history: We look at the length, type, and quality of the student‘s credit history to see if they have historically made their payments on time. Income and employment: We look at how long the student has been at their current job, as well as their income to see if they can afford the monthly payments.

Our contract interest rates range from 12%-18% depending on your qualifications. Generally, the interest rate will be somewhat lower than you might pay on traditional credit card accounts. The next FAQ explains how every student can obtain lower interest rates with our Preferred Customer Interest Refund Program.

The repayment terms are determined by the number of lessons per week, on average, the student would like to take. Repayment terms range from 18 months for our most accelerated programs with 5 lessons per week, to 72 months for programs with only 1 lesson per week. Most of our customers use programs with 2-3 lessons per week and repay over 48-60 months. At the end of these FAQs, please refer to our payment calculator to see how training schedules affect the size of their payments. Training Schedule Repayment Terms 1 lesson per week 72 months 2 lessons per week 60 months 3 lessons per week 48 months 4 lessons per week 30 months 5 lessons per week 18 months

When we are looking at an application, your credit score is one of the things we look at, but not the only one. The score by itself can be deceiving. We are interested in the duration and type of credit in your history, as shown in your credit report, related to the amount and type of financing you need (unsecured).