Helicopter School Financing

At Mauna Loa Helicopters we are very up front about costs. We believe that it is important for you to know all the costs in advance so that you may plan for and succeed at your new career.

Helicopter pilot training is an expensive undertaking and getting your helicopter school financing can be tricky, but don’t be discouraged, we will do everything we can to help. We don’t require payment in full prior to your training. You can pay as you go or set up an account. However, we do strongly recommend that you have your finances secured before starting school. We work with several organizations to provide helicopter school financing for students who qualify. Here are some avenues to consider:

Mauna Loa is proud to be the first independent helicopter school in the country able to offer federal financial aid to their students. Dependent students who qualify for the Parent Plus Loan can borrow up to the full tuition cost for the Professional Pilot Program. To see if you qualify as a dependent please click here: Am I A Dependent? To learn more about the Parent PLUS loan click here. If you do not qualify for the Parent Plus Loan, please apply to SallieMae instead of federal loans. For more information on applying for student loans contact MLH at (808) 334-0234.
The Sallie Mae Smart Option Student Loan is a great option for MLH students. With the Smart Option Student Loan, students can reduce their total loan cost by making affordable interest payments while they’re in school. Mauna Loa’s School Code for Sallie Mae is 041652. Sallie Mae can be reached at 877-279-7172. You can learn more about the Smart Option Student Loan by clicking here. For directions for applying for helicopter school financing via a Sallie Mae Loan click here, or to begin the online application click here.
Sallie Mae is the largest search engine for scholarships and has 3 million scholarships within the tool worth over 16 billion dollars. When students create a profile within our scholarship tool, they are automatically entered into our monthly $1,000 scholarship drawing. Click here to access the Sallie Mae Scholarship tool to do some research and find scholarships that you can take advantage of given the challenging times.
Pilot Finance offers loans that are limited only by the borrower’s income, debt and credit record. The interest rate can be higher than what is offered by Sallie Mae, but Pilot Finance is occasionally more accommodating with loan requests. Several of our students have had good success with Pilot Finance and they are pretty quick with the paperwork. To apply online, go to PilotFinance.com, or call (800) 667-0201.
MLH is approved by the Veterans Administration. This allows veterans to use their VA benefits to pay for flight school. MLH is approved for eligibility under chapters 30, 32, 1606, and Post 9-11. Veterans with benefits in chapters 30, 32, and 1606 may be eligible for reimbursement up to 60% of training funds after Private. Veterans with benefits under Post 9-11 may be eligible for up to $10,000 reimbursement of training funds per year after Private. To find out additional information on VA funding contact MLH.
The Alaska Commission on Postsecondary Education offers the Alaska Supplement Education Loan. This program offers Alaska residents loans of $6,500 per certificate/rating starting after the Private Pilot License. If a student was approved for this loan for each certificate and rating in our professional pilot program post Private license (COM, IFR, CFI, CFII) this would be a potential total of up to $26,000.

Students may apply for helicopter school financing through Alaska Advantage after they earn their Private Pilot’s License. Alaska Advantage Program Funds may be used for tuition/fees, room/board, books, supplies, miscellaneous related costs and allowance for transportation. The Alaska Supplement Education Loan is also available for pilots seeking their ATP certificate. Their website is http://akadvantage.alaska.gov/ or for specific loan comparison information http://akadvantage.alaska.gov/STUDENT-PARENT/Loans/Loan_Comparison.aspx or by phone (800) 441-2962.

This organization offers a variety of scholarships for helicopter pilot and technician training, as well as pilot resources, mentoring programs, educational seminars, internships, and more. Visit their website at helicopterfoundation.org.
Canadian residents can now use their Canadian student loans for helicopter school financing. Please contact MLH for more information on which Provinces or Territories qualify.