Coast Flight Training, a veteran led flight school with locations in San Diego, Dallas and San Marcos, Texas, now offers merit-based financing that rewards borrowers for past educational and military experiences.
“As air travel begins to accelerate and pilot demographics shift, our industry needs to use every tool in its arsenal to expand access to commercial aviation careers — and remove the financial barriers to flight education and training is a critical component of that mission,” said Bryan W. Simmons, president of Coast Flight and a former Navy Flight School instructor, retired United States Marine Corps Lieutenant Colonel.
Coast Flight’s 12-month program, called Coast Academy, combines on-ground instruction, supervised flight training, and solo flight time to help students complete the in-seat flight training time required to become a commercial airline pilot. Nearly 500 high school and college graduates, including veterans and individuals changing careers, have completed the program to date, according to company officials.
Students typically finance their tuition through a range of grant, loan, and scholarship options, including federal education and training benefits available through the Forever GI Bill. The introduction of the new financing option is offered in partnership with Meritize, which specializes in financing for skills-based education and training.
Unlike traditional lenders that rely solely on FICO scores and other financial records to determine whether to lend to an individual, Meritize considers the full breadth and depth of an individual’s academic or military achievements to enhance credit evaluation and improve loan options, officials explain. Because Meritize specifically takes into account military experiences, merit-based financing can provide a source of financial and credit assistance for returning veterans who are transitioning into civilian life, officials add.
“At a time when commercial airlines are facing widening gaps, employers and training providers are rethinking the way they finance talent creation and making pathways to in-demand aviation roles more accessible,” said Chris Keaveney, CEO of Meritize. “This work is about creating a financial and professional on-ramp to commercial aviation for aspiring pilots and help veterans begin their transition to civilian careers. It’s about recognizing each student’s achievements and potential, not just their credit score.”