Top 15 Most Important Things A Student Pilot Needs to Know About Funding Flight Training

1 – Flying is a great career. EXPENSIVE - BUT Worth it IF You Want it Bad Enough!

To slip the surly bonds of Earth and dance the skies on laughter-silvered wings … Well, there is nothing quite like it. There is a sense of satisfaction and pride that comes from knowing that you have done what less than 1% of the people now living are capable of. Two hundred years ago, it was unheard of, yet we do it every day.

I myself grew up on a small farm in southeastern Illinois, and eventually retired as a Boeing 767 captain. I never forgot my roots, or how I started. To think I was able to make a living - to actually be PAID TO FLY - that is just about as good as it gets!

2 – Learning to Fly is Expensive

I was fortunate enough to have been hired to work at a small airport where I could get a discount on my flying and even pick up a few hours at no cost by riding along on charter trips and flying the empty legs under supervision of one of our company pilots. And when I was paying for it, a brand-spanking-new PA28-140 Cherokee rented for $13/hour wet. $18/hour with an instructor. Of course, Avgas was $.53/gallon for 80 octane and $.57/gallon for 100 octane. That was in 1973, more than half a century ago. Back when I was young, fit, and good-looking.

There have been many changes since then, not the least of which is the cost of everything – including flying. For a student pilot starting out today with zero experience to become a commercial/instrument rated pilot is typically in excess of $100,000 by the time you add in ground school, exams. On top of that you will likely be adding pilot supplies, lodging, meals, and various miscellaneous expenses.

3 – Financing Options are Limited

It is unfortunate but true that many banks and financial institutions are reluctant to lend money for flight training – such loans are considered to be high risk, considered there is no guaranteed job placement upon completion.

4 – High Interest Rates

For those who do manage to get a loan, interest rates may be quite high. Particularly so if you have a limited credit history.

5 – Training Costs Can Be Unpredictable

There are a number of variables when it comes to flight training. Weather, availability of aircraft and/or instructors, and the individual student’s progress may require additional training hours. (This is not uncommon.)

6 – Aircraft Rental Costs

Ask what makes an airplane fly, and most people will tell you it is the differential rate of airflow under and over the wings (Venturi Effect) creating lift. The real answer is money. Airplanes are expensive to operate. The flight school must charge enough to cover the cost of purchasing the aircraft, depreciation, maintenance, fuel and insurance, among other things. And instructors don’t work for free.

7 – Other Costs

You’ll be paying for written, oral, and flying exam fees; medical exam fees; and whatever else I’m leaving out.

If you are not already living near the flight school, you will have transportation costs, rent, food, etc. to plan for.

8 – Working to pay as you go

Part-time employment opportunities might be limited due to the time-intensive environment of flight training. So that will be a challenge.

9 – Employment as a Pilot After Completion of Training

There is currently a demand for pilots. BUT … there are no guarantees. The airline industry is notorious for going on hiring binges and then furloughing as needs fluctuate with economic conditions.  And it is certainly something to think about when considering taking on debt.

This is precisely why I personally believe it is a good idea for a pilot to have something to fall back on when times are tough. Maybe even something to do as a side gig during good times.

All that being said, the fact is that those who do not actively pursue a flying career will have zero chance of ever having one. If you decide it is for you, then you need to go after it relentlessly.

It's smart to make an appointment with an FAA-approved AME (Aviation Medical Examiner) before or very soon after beginning your flight training, preferably for a first class medical. The reason I recommend this is you want to know you can pass the medical before you spend much time or money. The first class medical will allow you to do anything in the aviation industry, from flight instructing up to and including flying as captain on a large transport jet.

If you can only pass the second class examination you still are able to fly for hire, but it will be much harder if not impossible to get hired by an airline.

A third class medical allows you to fly as a student or private pilot.

Knowing what if any restrictions you have medically will allow you to make informed decision.

10 – Side-Gigs; Part-Time Jobs; Businesses That Allow Time for Training and Building Flight Time

I am not a career counselor, and I do not give career advice. Remember that anything I tell you is free and probably worth what you are paying for it.

With that in mind, here are a few suggestions for consideration:

11 – Work a Non-Aviation Job

Anything to pay the bills. Hopefully you can find a situation that allows you time to fly, which is what you ultimately want to do.

12 – Be a CFI

Once you get your ratings, do not overlook opportunities to be a flight instructor. You may be able to do this as a part-time or full-time job, depending upon your availability and the needs of the flight school.  

Maintain currency. Build time. Meet people. Make contacts. Establish a reputation. Stay involved in the aviation industry. Learn more by teaching. But don’t look at it as only a time-building job. It is a tremendous responsibility.

13 – Fly Drones

There are many opportunities now, and more coming as drones become more and more popular and commonly used in a myriad of commercial applications ranging from aerial inspections and aerial photography to search and rescue and a thousand other things in between.

Keep in mind that you can get your drone license without a medical. You can fly for someone else or buy your own drone and hire yourself out – an option that would allow you to be your own boss and set your own schedule and make time for your flight training.

I especially like the idea of flying drones because it is a natural fit for pilots AND it could be a great business to run on the side for supplemental income or something to fall back on when you find yourself between jobs or on furlough.

Drones are not all that expensive and training doesn’t take a long time.

I took the King Schools online ground school and found it quite helpful.

I don’t have enough experience to make recommendations as to which drone you should buy, but I can say I am very satisfied with my Au Tel.

There are websites where you might find work as a freelance drone pilot, such as Droners.io and Skywatch; Zeltview; DroneBase; Upwork; and Fiverr. There are probably some others out there as well. A Google search would probably turn up more.

Don’t forget Linkedin or Facebook groups for drone pilots and photographers.

Do your own research. Ask questions, but ALWAYS think for yourself. The decisions you make – and the consequences both good or bad – are yours.

14 – Non-Aviation Jobs and Businesses

There are no limits regarding the type or number of jobs or businesses you can work to earn full-time or part-time supplemental income. Hopefully you can find something that will fit in with your intentions of becoming a pilot.

I suggest going on YouTube and taking a look at the numerous videos available to help you find something. You can search “Opportunities for earning extra income” or anything similar to that. Some of them are helpful. Some are not. Use your own judgment. If nothing else, they might help you get your creative juices flowing.

15 – IF You Want It – Go for it!

The longer you wait, the more people are hired before you. And seniority is EVERYTHING! Also, the longer you wait, the more openings are filled, and the lower your chances of finding what you really want.

This is not just a job hunt. It is a COMPETITION! And you have to be in it to win it.

I cannot over-emphasize the importance of having a spouse that is supportive, understanding, and willing to make sacrifices. In the beginning you will miss more birthdays, anniversaries, family gatherings and holidays than you will be there for.

Time with your spouse and your children will be hit and miss. Just when you think you have a day off, you don’t. If your spouse isn’t on board with all this, it makes it extremely difficult if not impossible.

Many marriages do not survive in this industry. So you need to think it over, and talk it over. Make a plan and make it work.

I wish you the best!