At one time or another every one of us was in your shoes; we had the overwhelming desire to fly helicopters but the financial aspect seemed to be quite a hurdle. Let me tell you from experience this hurdle is not as high as it appears. There are numerous options for funding your training as long as you know where to look. We have made our payment policy as student friendly as possible and have listed many of the financing options here on our website but we encourage you to come down and meet with us so together we can find a financing option that is right for you.
Our Payment Policy
- To begin with, our rates are comparable to or better than area flight schools.
- We will pay for the student's supplementary insurance covering the $20,000 deductible on the helicopter that the student would otherwise be responsible for.
- We require no upfront payments.
- There is no minimum account balance needed to get our advertised student price of $310 an hour (Schweizer 300c).
- If you would like, you can pay upon completion of each flight.
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If you choose to make a deposit in your account with us, the discount is as follows:
- A $2,000 deposit will give you a 1.6% discount which would be $305 an hour.
- A $5,000 deposit will give you a 3.2% discount which would be $300 an hour.
- All student accounts can be cashed out at any time during business hours without penalties.
- There are no penalties if you need to cancel a flight or stop your training for any reason.
- The price which was given to you when you set up your training is what you will pay even if our prices go up.
- If you are unable to achieve your desired rating in the allotted number of hours in your syllabus, Lake Superior Helicopters will give you the helicopter rental at cost until your goal is achieved.
AOPA (Aircraft Owners & Pilots Association)
Now you can apply for financing for your flight training, whether you are a student or working on your upgrade. The AOPA Flight Training Funds account can help you earn your wings! www.aopa.org (must be an AOPA member)
- Predictable Payments
- No Annual Fee
- No Collateral Needed
- Renewable Sources of Cash
- Credit line up to $25,000.00
- Support AOPA and General Aviation
Eligibility
Must be an APOA member ($39.00)
Pilot Finance Inc.
This loan is designed for part-time flight training (1-5 flight lessons per week). Maximum amount financed is limited only by the applicant's income, debts and credit record. To apply online, visit www.pilotfinance.com or call 800.667.0201.
Wells Fargo
The Wells Fargo Education Connection Loan is an alternative loan for students seeking a degree, multi-course certificate, or license. Students make no payments while in school; the maximum in-school period is five years (four-year schools) or two years (all other schools).
Eligibility
Undergraduate and graduate students must:
- Be enrolled full-time, half-time or less than half-time at an eligible college
- Possess positive credit histories, an acceptable debt-to-income ratio, and a minimum income of $12,000 or a cosigner with a minimum income of $12,000
- Be U.S. citizens, U.S. nationals or permanent resident aliens without conditions. For permanent resident aliens, a U.S citizen cosigner is required
Scholarships
Minnesota Aviation Trade Association Flight Scholarship
Contact: Sherman Booen
P.O. Box 23164
Minneapolis, MN 55423
612-869-7026
Amount(s) awarded: (3) $1,000, $750, and $500
John E. Goodwin, Jr. Memorial Scholarship Fund
Contact: Genevieve Marcus, National Air Transport Association Foundation
4226 King Street
Alexandria, VA 22302
703-845-9000 or 800-808-6282
Approximate application deadline: November
Amount(s) awarded: (2) $2,500 annually
National Business Aviation Association Scholarships
Contact: Jay Evans, director, operations
202-783-9353
E-mail:
Website: web.nbaa.org/public/education/scholarships/
Approximate application deadline: October
Amount(s) awarded: Various
Harold S. Wood Scholarship
Contact: Katie Prybyl, General Aviation Manufacturers Association
1400 K Street, NW
Suite 801
Washington, DC 20005
202-393-1500
E-mail:
Approximate application deadline: January
Amount(s) awarded: (1) $500 scholarship awarded annually
Frank L. Lahm 9 Scholarships
Contact: The Order of Daedalians
P.O. Box 249
Randolph AFB, TX 78148
Approximate application deadline: February
The Elisha Hall Memorial Scholarship
Contact: Donna Klingenberger, Scholarship Coordinator
3647 St Rt 503 S
West Alexandria, OH 45381
937-839-4647
E-mail:
Website: www.wai.org
Amount(s) awarded: $1,000
"If You Can Dream It, You Can Do It" Scholarship
Contact: Donna Klingenberger, Scholarship Coordinator
3647 St Rt 503 S
West Alexandria, OH 45381
937-839-4647
E-mail:
Website: www.wai.org
Application deadline: November 28, 2008
Amount(s) awarded: $500
The Keep Flying Scholarship 2008
Contact: Donna Klingenberger, Scholarship Coordinator
3647 St Rt 503 S
West Alexandria, OH 45381
937-839-4647
E-mail:
Website: www.wai.org
Application deadline: November 28, 2008
Amount(s) awarded: $3,000
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Lake Superior College