When it comes to paying for professional helicopter flight training, there are a number of scholarships that you can seek
- Whirly Girls Inc. Whirly-Girls was formed in 1955 by Jean Ross Howard Phelan, who wanted to build a community where female helicopter pilots could share and grow. Today it has grown to include the largest source of scholarships for female helicopter pilots. Membership is open to any woman with a helicopter certificate. We are proud to have many whirly-girl students and alumni.
- Helicopter Foundation International HFI was founded in 1983 as a non-profit, publicly funded, tax exempt organization to systematically preserve the history of the helicopter and through public awareness programs, promote the vital role which the helicopter plays in society as well as assure continued development and perpetuation of the VTOL industry as a vital part of the global community. HFI offers scholarships which can help pay for helicopter flight training.
- Aero Club of New England The Aero Club of New England, in an effort to assist pilots and promote professional aviation careers, has awarded scholarships since 1987 to men and woman totaling more than $220,000. The Aero Club is a great source for helicopter flight training scholarships.
- Vermont Student Assistance Corporation Vermont Residents! The Vermont Student Assistance Corporation (VSAC) is now offering Non-Degree Grants for helicopter flight training. VSAC can be reached by phone at 800-642-3177. We are excited to have had three students in the past 2 years receive helicopter flight training grants from VSAC. Please remember, you must live in Vermont!
- Women in Avitation International The industry group Women in Aviation International gives away thousands of dollars in scholarships to deserving applicants. For details, visit the scholarship page on their website.
On average, an undergraduate post-secondary education student can expect to spend approximately $22,000 per year for a total of $88,000. Helicopter training at Northeast will average around $80,000 but generally it only takes two years instead of four. That means you can start earning money two years sooner than the average college graduate. If you're interested in a career in aviation, please look below at some of our financing options.
CAREER TRAINING SMART OPTION STUDENT LOAN®
With college costs growing fast, it‘s time to borrow smarter. The career Training Smart Option Student Loan offers two repayment options and competitive interest rates to help you pay for college expenses not covered by scholarships and federal loans.
NEH is very fortunate to be able to continue to offer SLM Financing to our qualified students for their flight training loans, please contact Rhonda for further details.
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- Competitive variable and fixed interest rates
- Flexible repayment options - Choose affordable fixed in-school payments of $25 a month2 or make full interest payments to save even more.1
- Repayment term will vary based on several factors, including loan amount and year in school.
- Auto Debit Savings - 0.25 percentage point interest rate reduction for auto debit enrollment.3
- Quarterly FICO® Credit Score is available online for free to both borrowers and cosigners.5
- Borrow up to 100% of your school-certified cost of attendance6
- Applying with a creditworthy cosigner may help you qualify. Borrowers may apply to release their cosigner from the loan after they graduate, make 12 on-time principal and interest payments and meet certain credit requirements.7
Releasing the cosigner will not adversely impact the rate on your loan.
Pilot Finance, Inc.
Pilot Finance, Inc. can help you with smaller loan amounts. Looking for your private certificate or maybe an add-on rating? Pilot Finance might be just what you need. The loan is designed for part-time students only. Maximum amount that can be financed is limited to the applicant‘s income, credit history and debts. You can apply on-line at www.pilotfinance.com or call 800-667-0201.
AOPA (Aircraft Owners and Pilots Association)
AOPA now offers flight training loans to finance your training. You can borrow as little or as much as you need all the way up to $100,000. Repayment terms can be as long as seven years. You can take a look at this brochure to find out if this is the path you would like to take, or you can apply here and get an approval decision in as little as one business day.
Students may choose to visit their bank, and discuss home equity loans or lines of credit versus the above options.
Just a few short years ago, there was little available as far as financial aid for a career as a helicopter pilot. We are very fortunate to have these options for students seeking help. Rhonda will be happy to talk to you on any or all of the above options, just contact her.
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To save you time and frustration, please keep in mind that NEH is not currently a Title 4 Accredited school. NEH is regulated strictly by the FAA, not the State of CT educational system. Therefore, there are limited options for financing.
Do you know what your FICO credit score is like?
As you prepare for financing your helicopter career, we recommend you have a good understanding of your credit history and your credit score. You can do this be researching your FICO score to learn how it is determined and prepare for your individual loan needs.
Please keep in mind, Northeast Helicopters DOES NOT require students to have large amounts of money on their accounts. Some schools will expect a student to maintain large balances on their accounts at all times. We do not have unrealistic expectations.
Students may choose to pay as they train. Northeast Helicopters will accept check, cash and most major credit cards. (No American Express). We keep it simple.
All students will have an account upon enrolling with NEH. Students that pay as they train are required to maintain a refundable $500.00 balance at all times on their account. When the student has finished their training, that balance is returned to the students.