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The Edly Pilot Loan
Becoming a professional pilot is one of the largest investments you’ll make in your career, and the traditional loan model doesn’t always fit the way a pilot’s income actually grows. FLT Academy has partnered with Edly to offer an income-based financing option built specifically for career-track pilots.
Unlike a conventional fixed-payment loan, the Edly Pilot Loan ties your monthly payment to what you actually earn. While you’re training and building hours, payments stay low. After you finish, your payment is calculated as a set percentage of your gross earned income – so it scales with your career instead of ignoring it.
Edly income-based loans are originated by Transportation Alliance Bank, Inc. d/b/a TAB Bank and serviced by American Education Services (AES). Edly has funded students at more than 1,500 schools nationwide.
Key Features
Why pilots choose Edly
Key features may include:
- Financing from $2,000 up to $130,000, subject to credit approval
- In-school payments as low as $20 per month while you train and build hours
- Income-based monthly payments after you separate from school, calculated as a set percentage of your gross earned income
- A 1.00 percentage-point interest rate reduction when you enroll in automatic payments
- No down payment required and $0 due at signing
- No prepayment penalty – you can pay ahead or pay off early at any time
- No cosigner required, though adding a creditworthy cosigner may increase your likelihood of approval and may qualify you for a lower rate
- Prequalification with a soft credit inquiry, which has no effect on your credit score
- Repayment over up to 144 monthly payments (a 12-year maximum term), with total payments capped as described in your loan agreement
Eligibility Requirements
Edly finances career-track pilots only. To be eligible, you must:
- Be 18 years of age or older
- Be a U.S. citizen or permanent resident
- Hold a current FAA first class medical certificate
- Be enrolled full time in a career-track pilot program
Prequalification uses a soft credit inquiry with no impact to your credit score. All loans are subject to credit approval and program eligibility, and are available only through participating schools.
Edly loans are not currently available for residents of CO, CT, IL, ME, NE, PR, VT, or WV.
How income-based repayment works
- While you train — Payments as low as $20 per month keep your loan in good standing while you log hours.
- After you finish — Your payments track your income. While you’re building hours as a CFI, your payment is designed to be affordable for that stage.
- As your career climbs — Your payment adjusts as your income changes, and you can pay ahead at any time with no penalty.
Payment comparison
Edly’s published illustration compares a $100,000 loan under income-based repayment against a typical fixed-rate lender. In that example, the initial payment is $833 per month with Edly versus $1,952 per month with a fixed-rate lender. Edly notes that initial income-based payments can be more than 50% lower than a typical fixed-payment pilot loan, and that the loan may be paid off sooner.
This is a hypothetical illustration and does not represent actual loan terms. Individual payments, terms, and timelines vary. If a graduate earns less than modeled, they can verify their income and payments adjust accordingly. For programs that cost less than the modeled amount, payments may be lower.
What Edly Can Fund
Edly funds career-track pilot training at participating schools. Approved funds are disbursed directly to FLT Academy, and funding may be released in stages as you complete each phase of training. Loan amounts, the portion of your program that can be financed, and disbursement timing vary by school, program, and applicant, and are disclosed in your application and loan agreement. Your FLT Academy advisor will confirm what Edly can cover for your specific training plan before you apply.
Prequalification
Curious about your rate?
Prequalification lets you see what you may qualify for in a matter of minutes, using a soft credit inquiry that has no effect on your credit score. You can prequalify for amounts from $2,000 to $130,000.
Keep in mind that your Annual Percentage Rate with Edly is income-based and changes as your income changes. It is not a rate quoted at application.
Important Loan Information - Please Read
Origination fee. Edly adds a one-time origination fee of 4.75% to your loan principal. Edly notes this is comparable to the 4.228% origination fee on federal Grad PLUS loans. No down payment is required and $0 is due at signing.
How your rate works. Your Annual Percentage Rate is income-based and changes as your income changes. It is not a rate quoted at application. For representative $130,000 loans, APRs range from 11.00% to 27.00%. Your actual APR depends on your income and may be higher or lower.
Credit inquiries. Prequalifying uses a soft credit inquiry with no effect on your credit score. Accepting your loan triggers one hard credit inquiry. Edly runs at most one hard inquiry per year from your initial application date.
Cosigner release. If you apply with a cosigner, release may be requested after 12 months of on-time income-based payments following employment with an airline or similar operator, subject to eligibility requirements.
State availability. Edly loans are currently not available to residents of Colorado, Connecticut, Illinois, Maine, Nebraska, Puerto Rico, Vermont, or West Virginia.
Before you borrow. Before applying for a private student loan, consider your federal student aid options, which may offer more favorable terms. Students and families should carefully review anticipated monthly payments and the total cost of borrowing before accepting any private education loan. Product features, rates, fees, eligibility requirements, and benefits are determined by Edly and are subject to change.
edly faq's
How is Edly different from a traditional pilot loan?
A traditional loan sets a fixed monthly payment that stays the same whether you’re a first-year CFI or a captain. Edly’s payment is income-based: after you separate from school, your monthly payment is a set percentage of your gross earned income, and it adjusts as your income changes. While you’re still in training, in-school payments can be as low as $20 per month. Edly’s own illustration puts the initial payment on a $100,000 loan at $833 per month, compared to $1,952 per month with a fixed-rate lender. That figure is a hypothetical illustration and does not represent actual loan terms.
What will my interest rate be?
Edly’s Annual Percentage Rate is income-based rather than a fixed number quoted when you apply, and it changes as your income changes. For representative $130,000 loans, Edly discloses an APR range of 11.00% to 27.00%. Your actual APR depends on your income and may be higher or lower. Enrolling in automatic payments reduces your interest rate by 1.00 percentage point. Because rates, fees, and terms vary by school, program, and applicant, the specifics are disclosed in your application and loan agreement.
How much can I borrow?
Edly finances from $2,000 up to $130,000, subject to credit approval and program eligibility. Funding may also cover housing and other educational expenses. The amount you can borrow depends on your program and your application.
Do I need a cosigner?
No. A cosigner is not required. That said, applying with a creditworthy cosigner may increase your likelihood of approval and may qualify you for a lower rate. If you do apply with a cosigner, cosigner release may be requested after 12 months of on-time income-based payments following employment with an airline or similar operator, subject to eligibility requirements.
Will applying hurt my credit?
Prequalifying uses a soft credit inquiry and has no effect on your credit score. Accepting your loan triggers one hard credit inquiry. Edly runs at most one hard inquiry per year from your initial application date.
Do I need an FAA medical certificate to apply?
Yes. Edly requires a current FAA first or second-class medical certificate as a condition of eligibility, along with being 18 or older, a U.S. citizen or permanent resident, and enrolled full time in a career-track pilot program. If you have not yet obtained your medical certificate, talk to your FLT Academy advisor about sequencing that step before you apply.
Can I pay my loan off early?
Yes. There is no prepayment penalty. You can pay ahead or pay off your loan early at any time. Repayment runs for up to 144 monthly payments, a 12-year maximum term, with total payments capped as described in your loan agreement.
Is Edly available in my state?
Edly loans are currently not available to residents of Colorado, Connecticut, Illinois, Maine, Nebraska, Puerto Rico, Vermont, or West Virginia. If you live in one of those states, talk to your FLT Academy advisor about other financing options.
How do the funds get to FLT Academy?
Approved funds are disbursed directly to FLT Academy rather than to you. Your advisor will coordinate with Edly on timing.
edly disclosures
Edly income-based loans are private student loans originated by Transportation Alliance Bank, Inc. d/b/a TAB Bank and serviced by American Education Services (AES). All loans are subject to credit approval and program eligibility and are available only through participating schools. Loans are available only to eligible borrowers who are 18 or older, are U.S. citizens or permanent residents, hold a current FAA first or second-class medical certificate, and are enrolled full time in a career-track pilot program. Loan amounts from $2,000 to $130,000; loans may fund up to the final 24 months of a program and may include housing and other educational expenses. Rates, fees, and terms vary by school, program, and applicant, and are disclosed in your application and loan agreement. No down payment is required and $0 is due at signing. A one-time origination fee of 4.75% is added to the loan principal, comparable to the 4.228% origination fee on federal Grad PLUS loans. Repayment terms: During training, you make in-school payments as low as $20/month. After you separate from school, you make income-based monthly payments equal to a set percentage of your gross earned income, continuing for up to 144 monthly payments (a 12-year maximum term), with total payments capped as described in your loan agreement. Your payment amount changes as your income changes. Your Annual Percentage Rate (APR) is income-based and changes as your income changes; it is not a rate quoted at application. For representative $130,000 loans, APRs range from 11.00% to 27.00%. Your actual APR depends on your income and may be higher or lower. Enrolling in automatic payments (autopay) reduces your interest rate by 1.00 percentage point; discount terms are described in your loan agreement. A cosigner is not required; applying with a cosigner may increase the likelihood of approval and may qualify you for a lower rate. If a cosigner is used, cosigner release may be requested after 12 months of on-time income-based payments following employment with an airline or similar operator, subject to eligibility requirements. Prequalifying uses a soft credit inquiry and has no effect on your credit score. Accepting your loan triggers one hard credit inquiry, and Edly runs at most one hard inquiry per year from your initial application date. Payment comparison chart is a hypothetical illustration and does not represent actual loan terms. Before applying for a private student loan, consider your federal student aid options, which may offer more favorable terms. Edly loans are currently not available to residents of CO, CT, IL, ME, NE, PR, VT, or WV. Questions? Call 914-775-8299 or email [email protected]. This material is for informational purposes only and is not an offer or commitment to lend. © 2026 Edly.
Ready to Fly?
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1
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2
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3
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