Your Financing Options

At Mauna Loa Helicopters we try to be very up front about cost. We believe that it is beneficial to the student if they know the real costs in advance and are not surprised later.

Helicopter pilot training is an expensive undertaking and getting your financing can be tricky, but do not 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 funding for students who qualify. Here are some avenues to consider:

• Federal Student Loans
• Sallie Mae Financial
• Sallie Mae Scholarships
• AOPA
• Pilot Finance, Inc.
• Utah Valley University
• Alaska Advantage Program
• Helicopter Foundation International
• Payment Options

• Federal Student Loans --
Mauna Loa is proud to be the first independent helicopter school in the country able to offer federal financial aid to their students. Independent students can qualify for up to approximately $5,000 in federal loans. Dependent students who qualify for the Parent Plus Loan can borrow up to the full tuition cost for the Professional Pilot Program. For more information on applying for student loans contact MLH at (808) 334-0234. Click here to download Steps to Financial Aid.

• Sallie Mae Financial --
The Sallie Mae Smart Option Student Loan is a great option for MLH students. With the Smart Option Student Loan, students reduce their total loan cost by making affordable interest payments while they’re in school, saving students hundreds, even thousands. Mauna Loa's School Code for Sallie Mae is 605360. Sallie Mae can be reached at (888) 272-5543. Click here for more information and to apply online.

• Sallie Mae Scholarships --
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.

• AOPA --
The Aircraft Owners and Pilots Association (AOPA) offers a loan to its members through its affiliated partner, MBNA America Bank. Repayment terms are up to five years. Loans may be used for any flight training expense including aircraft rental, instruction, books, supplies and so forth. For more information, go to AOPA.org/info/flynow or call MBNA Bank at (800) 882-8648.

• Pilot Finance, Inc. --
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.

• Utah Valley University (UVU) --
Utah Valley University (UVU) -- MLH is affiliated with UVU’s Global Aviation Degree Program, which means you can earn a two- or four-year degree while learning to fly with Mauna Loa Helicopters. You will attend classes online while concurrently attending flight and ground school with Mauna Loa Helicopters. It is a bit more of a work load on the student, but if a degree is a part of your goal and/or you are having trouble financing, UVU may be right for you. The best part is UVU’s financial assistance program. You can apply online for financial aid (and scholarships) at UVUAviation.com or by calling (888) 901-7192. Since you are working towards a degree now, you are eligible for scholarships. A great scholarship resource is Fastweb.com.

Another option for students is to apply to Utah Valley University and earn a Aviation Administration degree online while going to school at Mauna Loa Helicopters. This enables the student to take advantage of additional financial aid options.

Go to www.fafsa.ed.gov and fill out the form. Make sure to enter Utah Valley University in the schools section, and check the box for on campus housing. This is an online program and the world is your campus. This check mark allows you to use government funding for cost of living expenses.

It will take anywhere from one week to one month to process your application at UVU. Keep in touch with the financial aid office at (888) 901-7192. In the meantime, enroll for classes. You will receive your financial aid award from UVU. You will be required to apply separately for the loans for flight school.

The Aviation Administration Degree Program at UVU is for students seeking a degree in Aviation Science. Through UVU you are eligible for low-interest, low-payment government financial assistance. Again, a good source for more information about these scholarships is: Fastweb.com.

• Alaska Advantage Program --
This is a unique opportunity for Alaska residents only. The AK Advantage Program offers loans of $6,000 per certificate/rating starting after the Private Pilot License. This would be a total of $24,000 available for the last four certificates and rating (COM, IFR, CFI, CFII) we provide to students enrolled in our professional pilot program. Funds may be used for anything school related including books, supplies, food, housing, and travel expenses. An additional $6,000 can be borrowed for pilots seeking their ATP certificate. Residents should not apply until they have obtained their Private Pilot’s License. Their website is Alaskadvantage.state.ak.us or  (800) 441-2962  or (907) 465-2962 in Juneau.

• Helicopter Foundation International --
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.

• Payment Options --
We do not require payment in full prior to your training. There is a $150 non-refundable application fee due prior to the start of your training. This fee secures the agreed start date for your flight training at MLH and also covers some of your student expenses such as computer use, internet use, and copying at the school. All instruction and student supplies are subject to 4.167% state tax. You can pay as you go or set up an account with us.