|
| I
just want to get my Private Pilot's License for fun. Can
I still get a student loan? |
|
YES! Student loans
do not require any sort of REASON for you wanting to learn
something, they just require you to learn it at an accredited
school. |
| How
does the tax deduction work? |
|
The interest on
any student loan is tax deductible as an educational expense,
however whether or not you can take advantage of it depends
entirely on your particular tax situation. In
most cases, if you have an income, pay taxes and already
itemize deductions you can probably benefit from the educational
loan deduction, making the loan essentially interest-free.
Naturally, we're pilots and
not tax professionals, so it's always a good idea to consult
a good tax consultant before committing to anything based
on tax strategy. |
| What
if my training takes longer or I want other ratings? |
|
No problem. Our
loan provider deals with all kinds of education loans and
is very familiar with the changing needs of students. For
example, lets assume you applied for a loan for $3000 and
realized it's not enough to complete your training. You
simply go back to application page and add to the loan,
when YOU need it. |
| How
do I know I've been approved? |
|
When you apply
for a loan on-line you will receive a provisional answer
of yes or no right on the spot. You will also be asked to
print out and sign a promissory note, which you should mail
to the loan company right away. Within
24 hours after you apply, we will get a message from the
loan officer approving your loan. Once they receive your
promissory note, they will release the funds and you can
start flying! The entire process rarely takes more than
a few business days. |
| Do
they send me a check? |
|
No. Funding is
distributed directly to us as we request it, not directly
to the student. In most cases, we request disbursement in
increments as your training progresses in order to save
you interest charges over the entire amount. |
| What
if I don't use all of the loan amount? |
|
As we said, we
only request disbursement for funds actually needed for
your training. If your training is complete and there are
still funds available, they are simply not used and your
loan is adjusted accordingly. You only pay for what you
use. |
|
