Can I get a loan for a type rating with no airline job offer yet?

Yes, it's possible. While a conditional job offer strengthens your application, many lenders understand that some pilots pursue a type rating speculatively to make themselves more marketable. In this case, lenders will place more emphasis on your credit score, income from your current employment, and overall financial stability. Demonstrating a clear career plan can also be beneficial.

How much does a 737 or A320 type rating cost to finance?

The total cost to finance a popular type rating like the Boeing 737 or Airbus A320 typically ranges from $18,000 to $30,000. This includes the training center's tuition, travel and lodging for the 2-3 week course, examiner fees for the checkride, and study materials. We recommend requesting a loan amount that covers all these anticipated expenses to avoid shortfalls.

Can I use a personal loan to cover living expenses during my training?

Absolutely. That's a key advantage of a personal loan. Because the funds are disbursed directly to your bank account, you have the flexibility to use them for any training-related costs. This includes tuition, accommodation, meals, transportation, and even lost income if you have to take unpaid time off from your current job to attend the training.

What are typical interest rates (APR) for type rating loans?

The student loan apr average for a personal loan used for a type rating can range widely, from around 8% for applicants with excellent credit to over 30% for those with weaker credit profiles. Your specific rate depends on your credit score, income, DTI ratio, and the loan term you select. Comparing offers is the best way to find the most competitive rate you qualify for.

How quickly can I get funded for my type rating?

The process is very fast. After submitting your initial application (which takes only a few minutes), you can receive pre-qualified offers almost instantly. Once you select an offer, complete the final verification steps, and are officially approved by the lender, funds are often deposited into your account within one to two business days.

Is this different from a federal student loan?

Yes, very different. Most standalone Part 142 type rating programs are not eligible for federal student aid. Federal student loans are for degree-granting institutions. A personal loan is a private consumer loan from a bank, credit union, or online lender. The terms, interest rates (federal student loan apr is often lower), and repayment options are determined by the private lender, not the government.

Loans for Your Aircraft Type Rating

For commercially licensed pilots who need fast, flexible financing to get the type rating required for an airline career.

Check your rate

You've earned your commercial pilot license, logged the hours, and now the flight deck of a major airline is within reach. There's just one final, expensive hurdle: the aircraft type rating. Whether it's for a Boeing 737, an Airbus A320, or a Cessna Citation, the cost of this specialized training can be a significant barrier. A personal loan designed for aircraft type rating financing can provide the capital you need to secure your spot in the right seat.

The Unique Financial Challenge of a Type Rating

You have a conditional job offer that depends on you getting the rating first.
Our lending partners understand this chicken-and-egg scenario and can provide funding quickly to meet airline deadlines.
Traditional banks don't understand that a $20,000 training course is a direct investment in a six-figure career.
We connect you with lenders who specialize in vocational and career-focused financing, recognizing the high ROI of pilot training.
Your savings are depleted from initial flight training, and you need capital now.
A personal loan provides a lump sum upfront, so you can pay the training center and focus on your studies, not your finances.
Flight school financing options are limited or come with unfavorable terms.
Comparing personal loan offers allows you to find competitive rates and flexible terms that fit your budget.

Using a Personal Loan for Type Rating Financing

Unlike a federal student loan, a personal loan for a type rating is an unsecured installment loan. This means you don't need to put up any collateral, and you receive the full loan amount in a single disbursement. You can use these funds to pay the training facility directly for the entire cost of the program, including simulator time, ground school, and the final checkride. This simplicity allows you to lock in your training dates and satisfy the requirements of a conditional job offer from an airline.

The loan is repaid in fixed monthly installments over a set period, typically three to seven years. This predictable payment schedule makes budgeting straightforward as you transition into your new airline role. The interest rate, or APR, is determined by your credit history, income, and existing debt. A strong credit profile can help you secure a lower student loan APR, making the overall cost of financing more manageable. Many pilots find this a preferable alternative to draining savings or using high-interest credit cards.

Get Funded in Three Simple Steps

1
Complete a Short Application
Fill out one simple online form in about two minutes. This won't affect your credit score.
2
Compare Your Loan Offers
If you pre-qualify, you'll see offers from multiple lenders, detailing the APR, term, and monthly payment.
3
Receive Your Funds
Once you select an offer and are approved, funds are typically deposited directly into your bank account in as little as one business day.

Understanding the Cost of an Aircraft Type Rating

The price of a type rating varies significantly based on the aircraft's complexity and the training provider. High-demand ratings for airliners like the A320 and 737 are among the most expensive. When calculating the total amount you need to borrow, remember to account for more than just the tuition.

Sample Cost Breakdown: A320 Type Rating

Training Center Tuition (Ground & Sim) Varies by provider	$15,000 - $25,000
Travel and Accommodations (2-3 weeks) Hotel, food, transportation	$2,000 - $4,000
FAA Examiner Fee (Checkride) Paid directly to the DPE	$1,500 - $2,000
Study Materials & Supplies Manuals, software, etc.	$500

Estimated monthly

$489/mo

Based on a $22,000 loan with a 5-year term at 11% APR.

See What Your Monthly Payment Could Be

Check your personalized rate and term options without impacting your credit score.

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Loan amount: $2,000 – $50,000
APR: 7.99% – 35.99%
Term: 24 months – 84 months

Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. The rates listed are representative and subject to change. Not all applicants will qualify for the lowest rates.

The terms of your loan offer are critical. A fixed-rate loan is often preferred, as your monthly payment will not change over the life of the loan. This contrasts with variable-rate products where payments can fluctuate. Pay close attention to any origination or student loan fees, as these are deducted from the loan proceeds. A loan with zero fees means you receive the full amount you borrow.

Financing Options: Personal Loans vs. Alternatives

When deciding how to pay for your type rating, you have several options. Each comes with its own set of pros and cons. While using savings is ideal, it's not feasible for many pilots who have already invested heavily in their initial training. A personal loan offers a structured, transparent alternative to other forms of debt.

Comparing Type Rating Funding Options

Feature	Personal Loan	Flight School Financing	Credit Cards
Interest Rates (APR)	Typically 8% - 35.99%	Can be higher; may be variable	Often 20%+
Funding Speed	As fast as 1 business day	Can take days or weeks	Instant (if limit allows)
Flexibility	Can cover tuition, travel, living	Usually restricted to tuition only	Completely flexible
Repayment	Fixed monthly payments	Varies; may have in-school deferment	Variable minimum payments

Qualifying for a Type Rating Loan

What Lenders Look For

Good to Excellent Credit: A credit score of 640 or higher is typically needed for competitive rates. Some partners may consider scores as low as 580.
Verifiable Income: Lenders need to see proof of stable income to ensure you can repay the loan. This can be from a current job or other sources.
Low Debt-to-Income (DTI) Ratio: Your total monthly debt payments (including the new loan) should ideally be less than 40-50% of your gross monthly income.
Training Program Acceptance: Having an acceptance letter from a reputable Part 142 training center strengthens your application.
U.S. Citizenship or Residency: Applicants must typically be a U.S. citizen or permanent resident with a valid Social Security number.

If your credit profile is still developing, consider applying with a creditworthy co-signer. This can significantly improve your chances of approval and may help you secure a lower interest rate.

Find Out What You Qualify For

See your eligibility and potential loan offers in minutes.

Get My Options

Aviation Terms to Know

Type Rating: An FAA certification required for a pilot to act as pilot-in-command (PIC) of a specific type of large aircraft (over 12,500 lbs) or any turbojet-powered aircraft.
ATP CTP: The Airline Transport Pilot Certification Training Program. A prerequisite for the ATP knowledge test, which is required before starting most airline type rating courses.
Part 142 Training Center: An FAA-approved training facility that specializes in standardized, advanced flight training, primarily using flight simulators. Most type ratings are earned at these centers.
Checkride: The final practical exam for a pilot certificate or rating, administered by an FAA inspector or Designated Pilot Examiner (DPE).

Frequently Asked Questions

Type Rating Loan FAQs

Can I get a loan for a type rating with no airline job offer yet?
Yes, it's possible. While a conditional job offer strengthens your application, many lenders understand that some pilots pursue a type rating speculatively to make themselves more marketable. In this case, lenders will place more emphasis on your credit score, income from your current employment, and overall financial stability. Demonstrating a clear career plan can also be beneficial.
How much does a 737 or A320 type rating cost to finance?
The total cost to finance a popular type rating like the Boeing 737 or Airbus A320 typically ranges from $18,000 to $30,000. This includes the training center's tuition, travel and lodging for the 2-3 week course, examiner fees for the checkride, and study materials. We recommend requesting a loan amount that covers all these anticipated expenses to avoid shortfalls.
Can I use a personal loan to cover living expenses during my training?
Absolutely. That's a key advantage of a personal loan. Because the funds are disbursed directly to your bank account, you have the flexibility to use them for any training-related costs. This includes tuition, accommodation, meals, transportation, and even lost income if you have to take unpaid time off from your current job to attend the training.
What are typical interest rates (APR) for type rating loans?
The student loan apr average for a personal loan used for a type rating can range widely, from around 8% for applicants with excellent credit to over 30% for those with weaker credit profiles. Your specific rate depends on your credit score, income, DTI ratio, and the loan term you select. Comparing offers is the best way to find the most competitive rate you qualify for.
How quickly can I get funded for my type rating?
The process is very fast. After submitting your initial application (which takes only a few minutes), you can receive pre-qualified offers almost instantly. Once you select an offer, complete the final verification steps, and are officially approved by the lender, funds are often deposited into your account within one to two business days.
Is this different from a federal student loan?
Yes, very different. Most standalone Part 142 type rating programs are not eligible for federal student aid. Federal student loans are for degree-granting institutions. A personal loan is a private consumer loan from a bank, credit union, or online lender. The terms, interest rates (federal student loan apr is often lower), and repayment options are determined by the private lender, not the government.

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Your airline career is cleared for takeoff

Personal loan disclosure

Money Savvy is not a lender. We are a marketing service that connects consumers with participating lenders. Rates, amounts, and terms vary by lender, your credit history, and other factors.

Loan amounts: $1,000 – $100,000
Repayment terms: 3 – 84 months
Min APR: 5.99%
Max APR: 35.99%
Origination fees: 0% – 10% of the loan amount
Late fees: May apply; vary by lender

Representative example: A $10,000 loan with a 36-month term at an 18.99% APR would have an approximate monthly payment of $366.39 and a total cost of $13,190.04, including interest and a $500 origination fee.

Your actual APR depends on your credit score, income, and other factors. Only borrow what you can afford to repay.

California residents: California Financing Law disclosures available upon request.