Aircraft Mechanic Student Loans

Some of our students ask about aircraft mechanic student loans, so we have provided information here. You can choose Sallie Mae, a familiar lender of student loans, or another option. Some students also work with their local banks.

How much do I need to borrow?

The amount you borrow is between you and your lender. The cost for Aircraft Mechanic tuition is $45,000 ($9,000 per course). This includes tuition, books, tools, and 3 FAA written exams. Upon completion of the program, there is an FAA oral exam and an FAA practical exam. These cost a total of $1,050. To better assist you, we disclose all costs upfront so you can plan accordingly. Total cost is: $46,050. If you also need to borrow living expenses while you attend school, you should discuss that with your lender. Before you borrow the full amount, we encourage you to apply for a $5,000 scholarship from Epic.

Sallie Mae Eligibility

U.S. Citizens and Permanent Resident Aliens are eligible.
Resident Alien with required U.S. Citizenship and Immigration Service (USCIS) documentation.
Non-U.S. citizen students (including DACA students) who reside in and attend school in the U.S., are eligible with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and are required to provide an unexpired government-issued photo ID to verify identity.
Those who meet current credit and other eligibility criteria.
Students attending school full-time, half-time, or less than half-time, or taking prerequisite classes. Students attending summer classes or continuing education classes.
If you still need funds after maximizing grants, scholarships, and federal student loans you can apply.
Anyone taking courses that do not qualify for federal student loans.
Students attending summer classes or continuing education classes.
Those who still need funds after maximizing grants, scholarships, and federal student loans.
Students taking courses that do not qualify for federal student loans.

How do I apply for a Sallie Mae Smart Option loan?

Applying is easy! Students (or co-signers) can apply online. This takes approximately 15 minutes. Next, you will receive your credit approval. This includes your estimated monthly payment amounts, interest rates, and total number of payments to help select your repayment option. Follow these steps to apply now:

First, complete the application online.
Under “Loan Needs,” select whether you are a student, co-signer, parent or sponsor.
For “Type of Program,” select “Career training school.”
Select “Florida” for the state.
Search for “Epic Flight Academy – Aircraft Mechanic Program” and click on that.
Finally, provide requested information. We look forward to seeing you soon at Epic!
NOTE: Epic’s administrative code is 606701-96. Always use this number when contacting Sallie Mae.

What are the Sallie Mae loan limits?

There is a minimum of $1,000. Also, the maximum is the school-certified cost of attendance, less other financial aid received – no aggregate loan limit. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount.

What else should I know about Sallie Mae loans?

These PDF files may answer specific questions. Also, you can check out our frequently asked questions.

How do I contact Sallie Mae?

Students can call 800-4-SALLIE (1-800-472-5543)
Website: Sallie Mae Smart Option Loans

Stratus Financial Loans

Another lender flight students rely on is Stratus Financial. Stratus Financial was founded by FAA Certificated Flight and Ground Instructors passionate about helping others achieve their aviation dreams. They know it’s not just about achieving your dreams (because they looked up in the sky every time they heard an airplane, too!), but funding your family’s dreams as well.

With Stratus, you’re not just a number. They look beyond the typical credit scores and see you as an aviation professional. Their goal is to set you up for success before you even apply with them. Stratus lending packages include:

A great rate to take you from zero to hero
Full financing for your entire aircraft mechanic training and more
Affordable payment options, including deferment for 12 months while you complete your training AND find a job
And, you can pay off your loan any time you want with no consequences or penalties whatsoever.

Stratus also provides resources for your aviation career:

Resume reviewing, editing, and building
AMA phone calls with professionals in the 121 and 135 industry

The process is simple, and you can get started now. If you have limited credit or low income, you may need a co-borrower to apply with you.

FMS Bank Eligibility

For an Epic aircraft mechanic student to be eligible for a private student loan for Airframe & Powerplant Professional Financing, the borrower or co-signer have to meet the following requirements. They must:

be a U.S. citizen or permanent resident
have 3 years of positive credit history and a qualifying score (or apply with a cosigner who meets the criteria)
be legal adults at the time they apply for the loan (based on state of residence)
have a verifiable annual gross income of $18,000 or greater for the most recent two years (or apply with a cosigner who meets the criteria)
have the ability to pay 10% of total tuition, including books and tools

The application process for FMS Bank is simple. Please note that it is handled by Zuntafi.

You will finalize your application online by submitting your signature.
Once your credit is approved, FMS Bank sends a request to Epic Flight Academy to certify your requested amount.
Once certified, they send the information to you for your review and approval.
Upon your approval, they send your loan amount directly to Epic for your aircraft mechanic training.

The interest for your loan is a variable rate, which means it may increase after the loan is made. The current rate is SOFR + 11% plus a 1% origination fee. There is no prepayment penalty for this loan. Please review full details of the process before applying online.

Apply here for FMS Bank financing!

Are there other loan options?

Yes! There are other lenders that provide aircraft mechanic student loans. For instance, try contacting your local bank to see if they provide student loans. Similarly, certain lenders offer students loans for specific criteria. In other words, they may have residency requirements or other criteria. Below are several options that might work for you.

1. Commerce Bank

Note: When applying for a loan at Epic Flight Academy, use this code: 513979

2. Regions Bank

Note: When applying for a loan at Epic Flight Academy, use this code: 900902

3. Florida Credit Union

Note: When applying for a loan at Epic Flight Academy, use this code: 900823

4. Alaska Supplemental Education Loan (ASEL)

First of all, these loans are open only to Alaskan residents or someone training in Alaska. Also, you must be a U.S. citizen or eligible non-citizen.

5. Alaska Family Education Loan (FEL)

First of all, you must be an Alaska resident.
Second, there is a loan limit of $10,000 per year.
There is an aggregate limit of $56,000.
Repayment term: 10 years
Students and/or family members can apply online or call 1-800-441-2962.

6. American Airlines Credit Education Loan

You must be an eligible member of American Airlines Credit Union.
You can borrow up to $40,000.
Repayment can be up to 10 years; payments begin as soon as funds are disbursed through the credit union.
Call 1-800-533-0035.

7. AOPA Aviation Finance Company

Maximum loan amount is $100,000.
7 year maximum to repay; payments begin as soon as funds are disbursed.
Inquire online or by calling 1-800-627-5263.

8. We Florida Financial (WeFly)

First of all, you must be Florida resident or a member with AOPA.
Second, you can borrow up to $30,000, which exceeds the cost of the mechanic program.
There is a 6-year repayment term.
Inquire online or by calling 954-745-2400.

9. Veterans Educational Benefits

Veterans’ benefits are often confusing. Therefore, you may be unsure of eligibility or have questions about G.I. Bill entitlement. If so, contact the U.S. Department of Veterans Affairs (1-888-GIBILL1). Eligible students enrolled here must maintain satisfactory academic progress. This is a requirement to receive VA education benefits.
Vocational training is available to eligible veterans and reservists under certain circumstances.
Applicants for Education Benefits (22-1990) and Request of Change of Program of Place of Training (22-5495) should be sent to: VA Regional Office, P.O. Box 888, Muskogee, OK 74402-888.

Can international students apply for loans?

We encourage international students to secure funding before applying to our aircraft mechanic program. However, you may also qualify for student loans or other types of financing.

Questions? Contact Us!