Randy,
Keep in mind that finances do change over time. Work on getting your credit score and your savings up over the next few years, then check in again. It sounds cliche, but where there is a will, there is a way.
Chris
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Thank you Chris!
If I may ask, since I will be applying for the Sallie Mae loan towards the end of December, what credit score did you apply with? Iām reading really great information on this forum thread. Just wondered what credit score allowed for the splitting of the loan? Itās actually a fairly good idea, just wanted a little bit more information if no one is too bothered about stating there credit score when they applied. Thanks so much.
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Hi, I applied with Sallie Mae with a ~720 credit score (almost a decade worth of credit history), and still wasnāt approved. Bottom line is youāll need a Co signer really.
Moe,
There are quite a few people who get approved without co-signers. I urge those who are thinking of applying to contact Kirk in Admin and discuss their specific situations with him.
Chris
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Mid to high-700s at the time of application. Mortgage and about 18 years of credit history. Got denied for a lump sum, but got approved for two separate equal loans. Talk to Kirk as every situation is different.
It seems like a major consideration for lift would be how long you think it will take to get to the majors. From reading, it seems making that move in 3-4 years is not uncommon but not really the average. Maybe thatās changed now? Apparently, they also offer health benefits to their instructors, which could be convincing to some.
Mason,
ATP instructors that participate in the Envoy Cadet program are also eligible for health benefits.
https://atpflightschool.com/airlines/envoy-air-cadet-program.html
Chris
Hello Sergey,
If you donāt mind me asking, how did you go about doing this? What steps did you take? I have a 749 credit score, with mortgage, paid off car, and was still denied. Lol so Iām at this point thinking must need perfect credit.
Hi Genneth,
Have you had a chance to speak with Kirk in our finance department?
Addison
Yes I did, sometime a while back, during the COVID lockdown so he was at the time not really sure how stringent Sallie Mae would become, hence just sort of provided me with the norms, which was try to get any negatives off of my credit history, and raise my score. Which no negatives, and score is a 749 I can always work to get that higher so thatās a no biggie. I was really just curious as to what difference having 2 loans made instead of just the 1 lump sum, and how that made a difference in the outcome.
Good evening, Gennethā
My apologies for a late reply. In all likelihood, the lending practices and options have changed since I applied for the loan back in 2018, so Kirk is really your best resource for that information as he was the one whom I credit for suggesting my approach. I simply split my loan application into two separate ones for smaller amounts instead of one large amount totaling the funds that I needed. I applied for one loan, was approved, waited a little over a month and applied for another smaller loan. That helped me get approved. This may or may not still work, so speak to Kirk for most up-to-date advice on that matter. I wish you best of luck in your pursuit!
Sincerely,
Sergey
Have you done the credit route yourself ?
Donovan,
Julian may not be around, but some may have been fortunate enough to go the credit route themself. I would recommend like Chris, and I mentioned, to reach out to ATPās Finance Department.
Brady
Iām back to looking at ATP, almost 4 years after I had to drop looking into ATP back in early 2020 right as Covid was just starting to hit, because of my inability to get a cosigner. I come from the foster care system, so a cosigner is not happening. So I ended up getting a CDL in 2021 and working for a trucking company instead. Truck drivers were in high demand during Covid, and I stayed put at the same trucking company the whole time.
What I am now trying to revisit is if it will be possible to get a merit-based loan for the full amount (or some combination of loans) without a cosigner based on a solid credit score, a decent GPA when I got my bachelors in 2016, and a history of steady employment and career growth at the same company for 3-ish years now.
Any recommendations on who to get with on this?
Joshua,
Any financial questions regarding attendance at ATP should be directed to ATPās Finance Department; as they are the professionals in the finance industry. However, the only true way to determine if you will be approved for a loan is through an application, it never hurts to reach out to professionals in that field to inquire about their thoughts.
Brady
Joshua,
I would highly recommend that you call into ATP admin and speak to Kirk in financing. He is the absolute expert on all such things and is always happy to help. Give him a call.
Chris