The funds can be used for everything from starting and finishing primary training to advanced training, such as instrument training or obtaining a commercial certificate, according to AOPA officials.
It can even be used for fun flying, such as earning a tailwheel endorsement or seaplane rating.
Features of AOPA flight training financing include the ability to borrow up to $100,000 over a 24- to 84-month period with no money down, no loan minimum and minimal paperwork. Interest rates range from 7.74% to 12.99%.
“AOPA wants to remove the financial barriers that keep some pilots from being able to complete their flight training,” said Adam Meredith, president of AOPA Aviation Finance Co. “Whether they want to pursue flying as a career or just for fun, this flight training loan is designed to be simple, so our members can move ahead with their flying.”
The loans are designed not just for new students, but also for those already in flight training who pay for one flight hour at a time, AOPA officials said. Financing flight training can mean completing training sooner, and without the interruptions that can degrade flying skills, officials note.
The loans — available only to AOPA members — feature an online application and a loan decision within one business day, with approved loans funded within two business days.