Aviator now Title 4 Approved

kailuaboy · September 23rd, 2005, 17:52

Just wanted to get the word out that Yes, the Aviator is now title 4 approved. You can now get low interest loans through the federal government.

Ivan

TripleSticks · September 24th, 2005, 12:23

hey ivan,

do you know if we can convert the old high interest key bank loans to low interest govt loans? that would be nice.

how's stuff going there?

j

kailuaboy · September 24th, 2005, 14:00

From what mike said, yes we can. I was planning on looking it up this weekend.

Ivan
p.s. whats your total time up to?

TripleSticks · September 25th, 2005, 11:02

that would be awesome. those loans are gonna kill me. If it is able to be refinanced I'm gonna do that asap.

I'm somewhere just past 400 I think. Still have a long way to go.

I don't get time here like you do there. only about 30-50 hours a month but it's a fun place to work. I get to fly all kinds of stuff. 172's, 182's, piper lance, cheiftan, skymaster and some other stuff. I do a lot of biennial flight reviews and ya never know whats gonna come in when ya do those. I'm trying to help get the place set up to get more students though. right now we pretty much just cater to people in the local area.

onw of the big perks where I am is that I make a lot of contacts. I meet airline, charter and corporate guys almost every day. there's a lot of that traffic in and out of the airport and our office is right in the fbo. Hopefully one of those contacts will pay off at some time.

how bout you? you have to be getting up there. what are you looking for before you start sending out resumes?

kailuaboy · September 25th, 2005, 14:02

I have already sent out one resume... but im being very picky in my selection. its funny, me and marcel are like the senior guys now....lol...

Im sure you can come back and instruct here if you wanted to, mike really liked you; and you did all your instructor ratings here.

So, your looking at doing the corporate thing? I might just come out sometime and see ya. What airport you at again?

Oh, i have a time builder thats doing his commercial multi also, and hes from Hawaii too.

Ivan

Catherine · September 27th, 2005, 12:01

That's awesome news! That should really help out a lot of people as even a point of interest is a lot of money in the long term of paying back this kind of debt.

At what point can this be done? I have just gotten the first half of my money from Key and plan to be there sometime in October (don't you know it...ugh...having to wait for some things to be finished here before I can leave...some paperwork being the biggest pain). I had hoped to start next Monday, but I talked to Mike on that last week and he told me to just call him before I come down! So I'll be there just as soon as the paperwork is done!

Catherine

kailuaboy · September 27th, 2005, 16:18

you should really contact cindy on information about the federal government loans now. YOu can re-finance your loan from Key bank to the government, whether you are a past or present student. I believe the APR is 3%.

I dont know the specifics on how or where to apply to get the loans moved to government loans.

Cindys new email: cindy@aribenaviator.com

Ivan

Catherine · September 27th, 2005, 16:22

Thanks! I'll drop her a line and find out what I need to know!!!

TripleSticks · September 28th, 2005, 13:39

Quote:

Originally Posted by kailuaboy

I have already sent out one resume... but im being very picky in my selection. its funny, me and marcel are like the senior guys now....lol...

Im sure you can come back and instruct here if you wanted to, mike really liked you; and you did all your instructor ratings here.

So, your looking at doing the corporate thing? I might just come out sometime and see ya. What airport you at again?

Oh, i have a time builder thats doing his commercial multi also, and hes from Hawaii too.

Ivan

I'm at Newnan Coweta County Airport in Ga (CCO). Come on up any time. It''s just a little south of Atlanta Hartsfield if you're looking for it on a map.

mcdavi02 · September 28th, 2005, 19:05

Former AB'r here, I'm in talks with the DOE about conversion of Key loans to traditional.... I'l post a new thread when I get updated.

Mariano · September 30th, 2005, 03:30

How much (maximum amount) can be financed with these loans? Do you have to file a FAFSA or is a diferent procedure/type of loan?

BrianNC · September 30th, 2005, 14:49

OK, since you guys have brought all this up, what is the difference between a Key loan and a government loan?

What is the difference in interest rates?

How much easier/harder is it to get government loan?

Is it as easy to get as much money from govt. as key loan?

How does qualifying for the loan compare between the two?

What are the differences in paying the loan back?

Can you wait until training is finished to start paying back the govt. loan?

What are the names of the govt. loans and their websites?

Etc., etc., etc.

wings · October 12th, 2005, 16:25

Hello Everyone,

My name is Cindy Brown and I am the Financial Aid Administrator for Ari Ben Aviator, Inc.

I will try and address as many of these posts as I am able to at the present time. Because we are a newly approved school, I do not know all of the answers to all of your questions right now. However, I will do my best to find the answers for you in a timely manner.

Ari Ben Aviator has been granted approval by the Department of Education to offer two types of government loans to its students the Direct loan and the FFEL loan. These are Stafford loans, subsidized, unsubsidized and plus are available.
We have hired a loan servicing company, FAME, to facilitate the loan process with the government. They are in the process of modifying the software to our specifications. When the software is ready we will begin processing applications. My best estimate is two weeks.
You cannot convert Key Bank Loans to government loans. However, if you have other government loans (such as for college) you can consolidate the loans and make one payment at one interest rate. I am looking into the possiblity of refinancing bank loans using government student loans. I do not have that answer just yet.
There will be a "cap" on the amount a student may borrow. I have not received this number as of yet from the government. I will post it when I know.
The present interest rate being offered by the government is approximately 5% with a lower rate being applied while you are in school. You can get the exact rate from the website www.ed.gov.
There is a wealth of information regarding government student loans on the website www.ed.gov. Please read the site. It is worth your time.
You will apply at www.pin.ed.gov by completing the Free Application For Federal Student Aid (FAFSA).
There is a six month "grace period" after graduation before you begin paying the loan back. Loan lengths can be up to 30 years.

I hope this helps a little bit. I will update you as I learn more.

Cindy Brown

September 23rd, 2005, 17:52	#1
kailuaboy Senior Member Join Date: Mar 2005 Location: CLE Posts: 302	Aviator now Title 4 Approved Just wanted to get the word out that Yes, the Aviator is now title 4 approved. You can now get low interest loans through the federal government. Ivan

September 24th, 2005, 12:23	#2
TripleSticks Junior Member Join Date: Jul 2003 Location: Raleigh, NC Posts: 259	Re: Aviator now Title 4 Approved hey ivan, do you know if we can convert the old high interest key bank loans to low interest govt loans? that would be nice. how's stuff going there? j

September 24th, 2005, 14:00	#3
kailuaboy Senior Member Join Date: Mar 2005 Location: CLE Posts: 302	Re: Aviator now Title 4 Approved From what mike said, yes we can. I was planning on looking it up this weekend. Ivan p.s. whats your total time up to?

September 25th, 2005, 11:02	#4
TripleSticks Junior Member Join Date: Jul 2003 Location: Raleigh, NC Posts: 259	Re: Aviator now Title 4 Approved that would be awesome. those loans are gonna kill me. If it is able to be refinanced I'm gonna do that asap. I'm somewhere just past 400 I think. Still have a long way to go. I don't get time here like you do there. only about 30-50 hours a month but it's a fun place to work. I get to fly all kinds of stuff. 172's, 182's, piper lance, cheiftan, skymaster and some other stuff. I do a lot of biennial flight reviews and ya never know whats gonna come in when ya do those. I'm trying to help get the place set up to get more students though. right now we pretty much just cater to people in the local area. onw of the big perks where I am is that I make a lot of contacts. I meet airline, charter and corporate guys almost every day. there's a lot of that traffic in and out of the airport and our office is right in the fbo. Hopefully one of those contacts will pay off at some time. how bout you? you have to be getting up there. what are you looking for before you start sending out resumes?

September 25th, 2005, 14:02	#5
kailuaboy Senior Member Join Date: Mar 2005 Location: CLE Posts: 302	Re: Aviator now Title 4 Approved I have already sent out one resume... but im being very picky in my selection. its funny, me and marcel are like the senior guys now....lol... Im sure you can come back and instruct here if you wanted to, mike really liked you; and you did all your instructor ratings here. So, your looking at doing the corporate thing? I might just come out sometime and see ya. What airport you at again? Oh, i have a time builder thats doing his commercial multi also, and hes from Hawaii too. Ivan

September 27th, 2005, 12:01	#6
Catherine Junior Member Join Date: Aug 2005 Posts: 149	That's awesome news! That should really help out a lot of people as even a point of interest is a lot of money in the long term of paying back this kind of debt. At what point can this be done? I have just gotten the first half of my money from Key and plan to be there sometime in October (don't you know it...ugh...having to wait for some things to be finished here before I can leave...some paperwork being the biggest pain). I had hoped to start next Monday, but I talked to Mike on that last week and he told me to just call him before I come down! So I'll be there just as soon as the paperwork is done! Catherine

September 27th, 2005, 16:18	#7
kailuaboy Senior Member Join Date: Mar 2005 Location: CLE Posts: 302	ask for cindy you should really contact cindy on information about the federal government loans now. YOu can re-finance your loan from Key bank to the government, whether you are a past or present student. I believe the APR is 3%. I dont know the specifics on how or where to apply to get the loans moved to government loans. Cindys new email: cindy@aribenaviator.com Ivan

September 27th, 2005, 16:22	#8
Catherine Junior Member Join Date: Aug 2005 Posts: 149	Thanks! I'll drop her a line and find out what I need to know!!!

September 28th, 2005, 19:05	#10
mcdavi02 Junior Member Join Date: Apr 2003 Posts: 66	Former AB'r here, I'm in talks with the DOE about conversion of Key loans to traditional.... I'l post a new thread when I get updated.

September 30th, 2005, 03:30	#11
Mariano Senior Member Join Date: Jan 2005 Location: KPDX Posts: 1,243	How much (maximum amount) can be financed with these loans? Do you have to file a FAFSA or is a diferent procedure/type of loan?

September 30th, 2005, 14:49	#12
BrianNC Senior Member Join Date: May 2005 Location: Charlotte, NC Posts: 817	OK, since you guys have brought all this up, what is the difference between a Key loan and a government loan? What is the difference in interest rates? How much easier/harder is it to get government loan? Is it as easy to get as much money from govt. as key loan? How does qualifying for the loan compare between the two? What are the differences in paying the loan back? Can you wait until training is finished to start paying back the govt. loan? What are the names of the govt. loans and their websites? Etc., etc., etc. __________________ BrianNC

October 12th, 2005, 16:25	#13
wings Newbie Join Date: Oct 2005 Posts: 14	Title IV Hello Everyone, My name is Cindy Brown and I am the Financial Aid Administrator for Ari Ben Aviator, Inc. I will try and address as many of these posts as I am able to at the present time. Because we are a newly approved school, I do not know all of the answers to all of your questions right now. However, I will do my best to find the answers for you in a timely manner. Ari Ben Aviator has been granted approval by the Department of Education to offer two types of government loans to its students the Direct loan and the FFEL loan. These are Stafford loans, subsidized, unsubsidized and plus are available. We have hired a loan servicing company, FAME, to facilitate the loan process with the government. They are in the process of modifying the software to our specifications. When the software is ready we will begin processing applications. My best estimate is two weeks. You cannot convert Key Bank Loans to government loans. However, if you have other government loans (such as for college) you can consolidate the loans and make one payment at one interest rate. I am looking into the possiblity of refinancing bank loans using government student loans. I do not have that answer just yet. There will be a "cap" on the amount a student may borrow. I have not received this number as of yet from the government. I will post it when I know. The present interest rate being offered by the government is approximately 5% with a lower rate being applied while you are in school. You can get the exact rate from the website www.ed.gov. There is a wealth of information regarding government student loans on the website www.ed.gov. Please read the site. It is worth your time. You will apply at www.pin.ed.gov by completing the Free Application For Federal Student Aid (FAFSA). There is a six month "grace period" after graduation before you begin paying the loan back. Loan lengths can be up to 30 years. I hope this helps a little bit. I will update you as I learn more. Cindy Brown

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