There are many cost-efficient ways to fund flight training for aspiring pilots. Every person’s situation is different. If you are trying to find an effective and cost-efficient means to the airlines, I encourage you to follow these steps:

1.  Assess your debt and assets

2.   Search for scholarships

3.  Shop around flight schools

4.  Consider a flight club

5.  Consider Military Service

6.  Make a plan

7.  Research money-saving hacks

8.  Finalize plan with Spouse

9.  Save some contingency money

10.  Find a mentor

Assess your debt and assets:

If you’re going to begin grinding for your spot in the cockpit, you need to identify what is going to hold you back and what is going to propel you forward. Look at your debt and determine what you are willing to live without in order to make your dream come true. This means car payments, mortgage, price hunting to bring down bills, cutting off Netflix, etc. Then determine what assets will support your path forward. This can be stocks or bonds you can cash in, available savings, potential loans, or even family members willing to give you a place to crash while you dedicate money to flying. Make a budget with your findings and stick to it!

Scholarships:

Now that you have identified financial situation, explore other potential scholarship opportunities out there. There are many programs out there that are willing to provide a helping hand to aspiring pilots. Some examples include Aircraft Owners and Pilots Association (AOPA), National Business Aviation Association (NBAA), and Women in Aviation International (WAI). For a large list of aviation scholarships, click here. For scholarships just for Veterans, click here. Active duty/Reserve/National Guard members of the Army should also have access to the Army IgnitED program for a maximum of $4000 per calendar year for “continuing education”. This can be used for a number of ratings and certifications. As of right now, it’s free money with no strings attached. There could be an extra service obligation in the future if demand spikes.

Shop Around for Different Flight schools

There are flight schools all over the U.S that follow FAR part 61 or 141 training requirements. Both have pros and cons. Part 61 is more proficiency based while Part 141 is more of a check-the-box program. However, Part 141 programs have much more strict requirements to maintain their status. Part 141 programs will typically be more fast-paced and require a pilot to keep up on their proficiency to stay in the program. Typically, it will cost more due to the quality of the program. Part 61 is less structured, and therefore cheaper. You will have more flexibility to spend time on certain maneuvers you may not be proficient on. At the end of the day, the FAA flight hour requirements to get a certificate is the same across the board. Just ensure you get a quote for each ground course, certificate, etc. You will have to compare program quality and cost to determine what is right for you. If you desire to be a CFI, some programs will offer CFI spots only to their students. This could be another added perk to the program you choose. Ensure you ask the hourly cost of instructor and airplane rental to get a realist idea of what you will be paying for. That will also allow you to audit your bill appropriately each day. For all my military brothers and sisters out there, you can only use your GI bill at Part 141 schools. Unfortunately, most schools will likely force veterans or service members to pay out of pocket first and submit the paperwork at the end of the month to get the VA reimbursement. Navigating the Veterans Administration requirements and rules for the GI bill can be confusing at times. I recommend reaching out to the VA (888-442-4551) and talking to them first before you do anything. To determine which and how much of the GI bill you qualify for,  Click Here.

Consider a Flight Club:

Flight clubs are organized groups of individuals who charge a monthly fee from members to offset maintenance and loan payments for aircraft. In exchange, you can reserve their aircraft for discounted rates. Clubs are a great way to build long-lasting relationships with talented pilots and even CFI’s. Some may even offer their services for a small fee just to give back to the youth and inspire aviators. If you would like to use the AOPA club finder to search for a club near you, click here.

Consider Military Service:

It’s no secret, military pilots are highly sought after for their ability to adapt, learn quickly, and make sound judgement in face of chaos. While it may require a lot of sacrifice, its also the cheapest route to the airlines. Whether it’s through the Army, Navy, Air Force, or Marines, all military pilots are welcome. Even rotor pilots are making their way on the line through numerous rotary transition programs funded by airlines themselves. Become an officer through ROTC at an accredited college or go through the Officer Candidate School (enlistment required first). If you join the Army and want to make flying your main priority without the burden of command, you can choose the option to become a warrant officer after enlistment. Their job is to be subject matter experts when it comes to being an aviator. After you go through flight school, you can take a military competency exam to earn your Commercial, instrument, type rating, and multi-engine(if selected as fixed-wing pilot). If you become a rotary pilot, you will have to get your fixed wing commercial, instrument, and multi-engine. However, you will have access to the GI bill to pay for it all. It’s important to emphasize that if you join the military just to use the benefits and get out, you will have a rough time. It takes a special person to accept the call to serve. If you choose aviation, you will have a longer contract than the rest of typical military service members. While it may seem like a long period of time, there are some key perks that come with being a military aviator. A huge advantage not normally spoken about is access to the 750 hour restricted ATP. That’s half the time requirement for a typical civilian pilot! Another big advantage is obviously the GI bill as I spoke about earlier. The VA will pay around $14k each calendar year in order to obtain your ratings at part 141 flight schools. There is also a possibility for commissioned officers to double-dip from the military if you get chosen for the National ROTC scholarship (NRS). The NRS allows for up to 4 years of full-ride schooling paid for by Uncle Sam in exchange for an 8 year commitment. THEN, after you graduate, you will have access to your GI bill as well. Can’t get a better deal than that! Oh, and the Reserves/National Guard get the exact same deal if you want to do it part time. Visit your local branch recruiter for detailed information on how to join, if this path sounds like a challenge you are up for.

Make a Plan:

So now that you have done your research, it’s time to come up with a plan of attack. Create a budget and gather your school quotes. Determine how much it costs to travel each day to the location, the cost of hotel (if far from home), food, travel expenses, etc. Determine how much that adds on to your quote from the flight school. Then consider what values you are willing to pay extra for; newer planes, closer to home, strong instructors, etc. Assess the pros and cons to make your final decision. Do this for each certificate. Some flight schools will have different phases in separate locations across the U.S. For instance, the school I used for commercial single engine, instruments, and multi-engine, had their multi-engine course in another location 4 hours away from the original flight school. That may have been a deal breaker for some, but I had points to pay for a hotel.

Research money-saving hacks:

This step is important for bringing costs down. I’ll share a few of mine with you. If you are responsible enough for a credit card, get one! I pay all expenses possible with my American Express Hilton card. The Amex Hilton is free for those who qualify, and the Amex platinum is free for military. I primarily used my Amex Hilton card to pay for everything (including my flight school courses) and paid the card off each month to prevent incurring any interest. This allowed me to build up enough Hilton points to book the Double Tree hotel for 10 days while I was in multi-engine training for free. I later used more points at the Home2Suites for my ATP-CTP course for 9 days. Again, for free. Otherwise, I could have been paying at least $2300-$2500 for both courses. Plus, every 5 ^th days (when you pay with points) is free! There is other credit card options out there but I found my cards had the biggest bang for the buck at the time. If not for saving money in general, you could at least use left over points for vacation later on. To save on driving, find another pilot heading to the same course as you, such as the ATP-CTP, and take the course together. You could split the cost of driving to and around the school. 

Finalize Plan with Spouse:

If you’re married, have a heart to heart with your loved ones and explain the dedication required for this career. You will have to be away for long periods of time; whether that’s flying to time-build or traveling to different courses. Flight training will take a lot of your time. If you don’t have the full support from your spouse, you may have a hard time concentrating in class or in the sky. 

Save some Contingency Money:

Don’t be reckless! Save your money and have a backup plan. Bad things happen and people fail check rides. Too many failures will make it difficult, if not impossible, to get hired. Be a realist. Not everyone will make the cut. Every paycheck from your current job should have some money being deposited into a savings account. Especially when you are the breadwinner for a family. Be smart.

Find a Mentor:

Hear me out! I would not have been hired without a mentor. Someone who has knowledge of the professional civilian aviation world, whether part 135 or 121, will be a huge asset in pointing out the key factors in getting hired. They may even teach you lessons-learned that will impact you for the rest of your career. Meet people! Network! Always strive to be a better pilot.