Tory - Yes, both Sallie Mae and Wells Fargo allow for in-school deferment for 9 months (or longer if training is delayed). We monitor training progress and notify the lenders after the final day of training. The 6 month grace period begins after the last day with ATP, then payment normally begins. Sallie Mae offers 12 months of interest-only payments after the 6 month grace period has been exhausted. Wells Fargo has a new 24 month forbearance option (no payments required) for graduates who are building to 1500 hours of flight time. All ATP graduates receive an email from us at the end of training to remind them of these flexible repayment options.
Cameron - Variable rates start as low as 3.75% and fixed rates as low as 5.75%. You’ll likely need a cosigner with near perfect credit in order to qualify but we do see several of these low offers each week. Most applicants can expect to receive rates of 7-9% variable.
Feel free to reach out with any questions.