Financing without Cosigner

No, they cannot. I have several friends from both programs. If they did certain ratings (usually instrument and commercial initial - this varies) outside of the school, they no longer qualified. Doing all of your training outside of the school would definitely disqualify you.

Read this article very attentively and you will see that your info is incorrect. Also, if anyone would know the ins and outs of R-ATP qualifications, it is a person that has actually been responsible for hiring pilots


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Well to bring this thread back to the subject of it’s Headline, and the original reason for my input; aspiring pilots who are looking to fund an accelerated ab-initio airline style part 141 training but don’t have a cosignor would not need one at Republic Airways’ owned Lift Academy. Which offers you a job in the right seat of their Embraer 170/175 upon graduating the program. Loan amount would be $65k, Republic will subsidize a further $20k and assist you in payments of $350/mo as a CFI and $250/mo as a first officer for 36 months into being a first officer. No credit history or 660 FICO are the requirements.

Another route is Army Warrant Officer Program which info can be attained at their website.

I hope everyone who wishes to be a pilot sees their dream through to the end. These are just 2 options of a countless many that are out there today.

First of all, I’m going to take the fact that you’re deleting and redacting the RATP comments as you now understanding how it works.

Yes LIFT flows to Republic and offers all of the things you speak of. ATP also has tuition reimbursement with the same amount if not more - at multiple regionals (Republic included). The LIFT deal is no better when it comes to final cost. Like I said before, if it’s your only chance to be approved through a lender - then go for it. But I stand by my statement that if you have the option for both, why not go with the one who created the accelerated pilot program and has put out thousands and thousands of successful airline pilots?

Yes, there are a ton of options, and it’s good to do your research and know what they are. I think you’re preemptively posting opinions without real knowledge of what you speak of. But I wish you luck with your training nonetheless.

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Wondering if I should also repost my original response to post and see if we can do this all again?

Nahhhhhhh :wink:

Adam

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Five year contract or you have to pay the $20k back.

Is it prorated if one leaves in less than five years? For example, if you fly for them for four years and then leave, do you owe the whole $20k or just $4k?

If I remember right you pay the full amount back if you leave before the 5 is satisfied. After they said a 5 yr contract I stopped looking at Lift as that’s a long time if you can start interviewing with the Majors (roughly) 3 yrs in

5yr contract means a 5yr contract. No halfsies or take-backs.

Wow, I would stay well away from that. Imagine getting hired at a major airline four years in, only to have to pay a large sum of money back to Republic.

I think the way most people take that 5yr contract is if they make it to the majors within the 5 yr window then they will just foot the $20k since they’ll be able to justify it with that pay raise, plus it will wind up being cheaper than ATP in total training cost even with that sum.

Not saying that’s preferable (coming up with $20k working as an FO while still paying back loans can’t possibly be fun), but that’s how folks are looking at it


I’m choosing not to go with lift because last I checked the program doesn’t offer any cost of living financing (or housing), and they encourage students to work. Now I don’t mind working, but when the length of the program is the same as ATP, and ATP absolutely advises against working due to the workload, I’m not sure what could be different with Lift that will accommodate folks working substantial hours while flying at the same time.

I haven’t looked at Lift’s program in depth. Have they explained how they handle training costs if the student is unable to complete the program or goes over alotted time in training?
Also, keeping a job while trying to go through an accelerated flight training program is a recipe for delays at best. It baffles me that they’d encourage their students to work during training.

Another point that I would like to address is that because Republic Airways owns Lift Academy in Indianapolis, IN, the priority over hiring and class dates for new hire training goes as follows in the following order:

1). Lift Academy cadet graduates
2). Lift Academy flight instructors
3). RJET ambassadors
4). All else.

So after training at Lift Academy to earn your ratings, and instructing until you earn 1500hrs, you will have priority and preference over all the other applicants for a seat on an E175 flying Delta Connection, American Eagle, and United Express.

There are a lot of options out there. If lift or AA cadet doesn’t float your boat, you can apply for the JetBlue ab initio program and potentially save yourself two years or more going straight to a major airline.

I would like to correct myself. Republic will pay an additional $15,000 of your student loan if you work 5 years as a pilot at RPA for 5 years. So if you take the $65,000 loan at Lift Academy and work at Republic Airways for 5 years after graduating, you are responsible for only $50,000. It is on the Lift Academy website.

Sergey,

I know this is an old thread but I just came across and I wanted to ask you how does it work getting two separate loans instead of one to finance the whole program?
Do you get both from the same bank?
How do you know how much you’ll get from each loan?
Thanks for your help.

Randy,

Hopefully Sergey will chime in here, but in the mean time I would really recommend speaking with Kirk in ATP Admissions as he is the expert on all such things and can gave you the latest information.

Chris

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I applied to Sallie Mae through their online process for two separate loans 30 days apart. They are both through Sallie Mae and are serviced together—same due date, etc—so I just make one payment and it gets split between the loans accordingly. As Chris said, Kirk in Finance is the expert in all the current loan matters. This was a couple years ago


I also had to do two separate loans as well, My co-signer was unable to get approved for the whole loan amount and neither was I, splitting it into two loans allowed my co-signer to be approved for half as well as myself being approved on my own for the other half. Highly suggest others try that as well if you’re having trouble getting the loan.

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Thank you for the response and I did speak to Kirk, however things aren’t on my side this time around.

At this point it’s either forget about a pilot career or pay cash/out of pocket.

I’ll see if I can do part 61 on my own while staying at my current job and slowly get my certifications.

Again thanks to everyone, I appreciate the valuable information.