AOPA Flight Training Financing

[dispatchdoug]

I was curious as to if anyone has used the AOPA Flight Training Financing program, and your experience with it (vis-a-vis rules, restrictions, limitations, how much they gave you, yadda yadda yadda)

Thx

[naunga]

I haven't used them, but I've got a loan from MBNA.

Works like a checking account really. They give you checks that draw right from the loan. You can use it anyway you like, and you always know what your payment is.

The only downside is you're hit with a fee everytime to draw from the loan, the interest rates can be a little high, and the longest repayment term is 48 months.

So IMHO it's a good loan if you're working full time and training part-time. Otherwise you might look into Sallie Mae, which have much better interest rates and longer repayment terms.

Hope this helps.

Naunga