New Member
Hi guys,

Does anyone know how often Sallie Mae actually loans the majority of the 30,000? ATP would be perfect for me. I even have a job flying mu2s waiting for me if I have my commercial by Fall. However, the money is somewhat of an issue as I am a college sophomore without family help. Any ideas, suggestions, or insight would be greatly appreciated
I think I can help you out...let me know where the mu2 job is that is hiring fresh commercial pilots and I will fill in for you until you finish up your ratings........
lol...The guy isn't just hiring fresh pilots. I met the guy working line service at an FBO. I fuel his planes a lot and he took a liking to me. He has told me he will hire me when I have my commercial.
Jjosh, I am in the same boat, sort of.
I have a college degree, but financially strapped and independent at the moment.
I, too, would need full financing for ATP's program.
Anybody have experience with this??

In the meantime, I will call Sallie Mae.
If you don't mind, would you keep us posted on your progress with the loan... I'd like to see the process before I start mine.
I got my loan for 36K, to cover expenses and checkrides. If you have a coborrower with good credit it's a piece of cake.
I talked to a guy on the phone who said you should borrow approx 140% of flight costs (the broshure says 48k with the PPL program).

I do not know how much I plan (or can, with a co-signer of course) borrow, but I would like extra to cover expenses while I am around.

I have to talk to the banks soon so...
OK Here is the deal. ATP uses two lenders, Sallie Mae and Key Bank. Both allow students who qualify (that is those that have good credit and a co-borrower with good credit) to borrow up to 140% of total training costs. Both lenders currently offer relatively low interest rates. Sallie Mae requires that you start making payments 5 months after you start training and Key Bank requires you to start making payments 6 months after you complete your training.
Anyone wanting more info on financincing or any other aspect of ATP's programs may contact me directly at
i've posted my experience with these loan programs (key bank) under the "collegiate aviation" forum under the thread "i need a little direction" if you care to read it. if memory serves, a young kid started the thread asking similar questions about these loans. THEY CAN BE A PAIN IN THE A$$. most need a co-signer. you need EXCELLENT credit and a good income to apply with out one. i was is in the same boat many of you probably are. getting ready to graduate from college, part time job. no co-signer (at the time), good credit. i applied and they basically told me to go to hell.
Well Hollywood, they aren't crazy!
You should go into all these things expective you'll need a co-signer.
i knew i would need a co-signer but they make these loans sound like they are a lot easier to get than they really are. it;s easier to get a loan for a car or mortgage! anyway, i got a cosigner and i got the loan. water under the bridge.
I'd like to push this whole "with good credit" thing a touch further.. I have a cosigner with outstanding credit (in the high 700's)... I, on the other hand, have pretty rough credit (around 500). The question is, are they looking for a AAA borrower with a AAA co-signer? Seems to me that, in reality, they won't sell alot of loans that way... What's the line in the sand with Sallie and Key?

i'm not real sure what the minimum credit scores are that they look for. your co-signers credit i'm sure is acceptable. your's on the other hand, may or may not be.does your co-signer have a good income? i know that they like to see that your co-signer can cover the amount of the monthly payments on the amount of your loan should you default. if your so-signer can't really afford the monthly payments then there could be a problem.
Leave yourself off the loan (with a 500 you are only hurting the interest rate), and let the person with the 700+ get the loan for you (can't remember what it's called, but both key & sallie mae have it!)...