FINANCING FAQS

Because FLT Academy offers three different financing options for prospective pilots, the timeline may vary. It can range from one day to one week.

Everyone is eligible to apply for financing. There’s no hard credit check for the application, so FLT Academy recommends all potential students apply to see what is available to them.

• FLT Financial Services or Skybound: For students pursuing a single rating, such as the private pilot license.
• Meritize or Skybound: For students interested in the Career-Track Program.
• Climb Credit: Coming Soon – stay tuned!

Interest rates vary based on which financial service is used.

• Meritize: Interest rate varies by application and is affected by factors such as current credit score, cosigner status, outstanding debts, and educational history.
• Skybound: Flat 11% interest rate plus the current secured overnight financing rate (SOFR).
• FLT Financial Services: Flat 10% interest rate.

The FLT program (Career-Track vs single rating) you wish to take will dictate the type of financing you should pursue.

You are only responsible to repay the funds used up to the point you halt your training, plus any associated fees incurred. Any unused funds at that time must be returned to the lender.

Students have up to 20 years to repay loans with Meritize and Skybound. For loans with FLT Financial Services, students must repay within three years.

As of yet, there are no tuition discounts available. However, tuition can be reduced if a student has verified, previous flight training, or has their own equipment, such as a cellular iPad or aviation headset, to use.

Depending on the type of training (Career-Track Program vs private pilot, etc…), almost everything is included in our training estimates and covered by financing. All ground schools, books & materials, aviation headset, cellular iPad, ForeFlight subscription, FAA checkride/written test fees, flight time, instructor charges, flight bag essentials, and more are all factored in! Things not covered include:

• Fees for obtaining FAA First Class Medical Certificate
• Fees for obtaining Criminal Background History Report
• Fees for obtaining Driver’s License record
• Fees for drug screening test
• Non-Owner Aviation Renters Insurance
• iPad cellular data plan

Each student has an account with Flight Schedule Pro. From that dashboard, all financing can be tracked, right down to where every penny has been spent on flight training.