Flight training loans???

JGriffis

New Member
How many years can you carry out the loans of say...Sallie Mae or Key???? Or any others? what would you say your average monthly payments are?
 

flyitup

Well-Known Member
I’m not familiar with Key, but I definitely vote against Sallie Mae!

At this point I owe around $9,000 dollars and have had nothing but trouble with them in the past. It’s a long story…

Just make sure that you read all the fine print as you would with any other loan…

Good luck!
 

flyitup

Well-Known Member
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Aren't Key and Sallie Mae the two leaders in funding for aviation education?

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I suppose so...

It also depends on the school you use... I train through an FBO that uses Sallie Mae exclusively, but I know of several part 141 academies that use Key.
 

ready2fly

Well-Known Member
JGriffis: I have a Sallie Mae loan (two actually) and I've had an incredibly GOOD experience with them.

My money was always available on time, when I needed it. My apps were processed expediently and I was treated with the utmost professional respect.

I don't know anything about Key Loans, so I can't help you there.

I would recommend Sallie Mae though.
 

sbe

Well-Known Member
JGriffis:

I haven't taken out any loans for my flight training, but my college loan was through SallieMae. As that loan is now paid for I can tell you throughout the process of repaying my loan they were an excellent company to deal with. My only squawk would be they were very lax in sending new coupon books a couple of times - one never arrived and another arrived one month after the first payment in that book was due - of course regardless of this you are expected to keep making payments on time! I signed up for the online billpay and that became a nonfactor. Very easy online to check your payoff, payment history, update your address/info, etc.

If I ever had to take out a loan for flight training I'd want it to be with them. Hopefully I can avoid that, though - so far I've been successful! Good luck.

Sarah
 

drumminpilot

Well-Known Member
I've used Sallie Mae twice. I've never had a problem with Sallie Mae. As with Sarah, I've never been sent payment books, but I just signed up for online billpay. It makes life a lot easier. My first loan was for 21k and my payments were roughly $250 per month, the loan I just got was for 12k, and my payments are $150 per month. All my disbursements have been on time. You also have the option of paying interest only payments while you're in school.

My roommate while I was in Florida had a loan through Key. I don't know the details, but I know he never had a problem.

**flyitup, sorry to hear that you had a problem with Sallie Mae. Any idea on when you're gonna get to start flying again? We need to go up sometime!
 

flyitup

Well-Known Member
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flyitup, sorry to hear that you had a problem with Sallie Mae. Any idea on when you're gonna get to start flying again? We need to go up sometime!

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Ahh.. I'm over it. I'm glad to hear that you and R2F have good experiences to share though...

We definitely do need to go up at some point! At the present moment, I'm trying to get geared up for the upcoming lawn season.. things should settle down soon though.

How are things going for you? Are you still flying out of Christiansen?
 

drumminpilot

Well-Known Member
Yep, still flying at Christiansen. I'm trying to knock the rust off of my book knowledge right now, so it's a slow process. I can only fly on the weekends with my work schedule, and the RG keeps being booked up with CFI rides, so flying it is a hard deal right now. Mike left, so I've been flying with Wilson Lee and Johnny McConkey. The two instructor thing takes some getting used to, but I think I like it. I finally got a chance to get checked out in the SP, so I try to take that around when I can.
 

flyitup

Well-Known Member
Where are you working?

I've been pretty put out by Christiansen’s aircrafts... With the exception of the SP, there all pieces of crap..

Last Thursday my instructor and I went over to Enrique's for a little lunch and on the way back had a complete electrical failure... I called Alisa and she called the tower for me to let them know our intentions. When we arrived at RVS they brought us in with light gun signals.. No big deal really... but I'm sick and tired of having their old aircraft break down on me all the time... Oh yes... and to add insult to injury (ok.. not really injury, but you get the idea.)
I was charged the full price for the airplane rental! That's crappy if you ask me because we, of course, were unable to have an instructional flight in an airplane that didn't have electric power...

Oh well... If I didn't have money tied up at Christiansen I would probably find a new FBO.

Alright... I'll step down from my soapbox!
 

drumminpilot

Well-Known Member
hahaha.... yeah, I heard the other day from another RVS pilot, that from now on when we file out of RVS in Christiansen's planes, they have a specific clearance for us. It'll go like this: 6105V, you're cleared to XXX as filed, climb and maintain 4,000, Squawk 7600, will clear traffic for immediate return after comm failure.
Electrical failures are fun huh? I had one on my very first IFR X/C, in IMC nonetheless.


BTW - What plane were you flying?
 

flyitup

Well-Known Member
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I had one on my very first IFR X/C, in IMC nonetheless.

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Nice! I guess mine wasn't so bad after all!

It was 63425 by the way...
 

RiddlePilot

New Member
I'll put in a good word for SallieMae as well. I've been using them solely from the beginning, and they've been great. Money's always available on time, they're quick to give me a credit decision, and their customer service department is good people.
 

sbe

Well-Known Member
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Last Thursday my instructor and I went over to Enrique's for a little lunch

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mmmm, Enrique's. I hit that place a couple weeks ago with my CFI. Good stuff.

Sarah
 

flyitup

Well-Known Member
[ QUOTE ]
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Last Thursday my instructor and I went over to Enrique's for a little lunch

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mmmm, Enrique's. I hit that place a couple weeks ago with my CFI. Good stuff.

Sarah

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Yeah.. it's pretty good! I think they almost know me by name in their!

Any good eats in KC Sarah?
 

FL270

New Member
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Any good eats in KC?

[/ QUOTE ]I'm not Sarah, but I'll answer ... if you like beef, Kansas City is a little slice of heaven. There are a bunch of steakhouses in town that have steaks that are just TO DIE FOR. Best steak I ever had was in Kansas City ... afraid I can't remember the name of the place, though. Sarah, where are the good spots??

FL270
 

drumminpilot

Well-Known Member
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Any good eats in KC

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KC Masterpiece....... yiz-um!!! (can you tell it's lunchtime?
)

I'll second on Enrique's..... good stuff....
 

jeskoe

New Member
Has anyone used Key Bank?? I would love to hear about it because that is the one that I plan on using.
 
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