What happened to Wachovia?

[MarkW_CO]

I just checked ATP's financing tab and it looks like Wachovia is no longer an option. Is this true that Sallie Mae will be the only option? And it looks like they have restricted what they will lend making it very difficult to get a loan for the whole program. If anybody has any info that would be great.

Thanks,
Mark Wieman

[ExpressJet_Bob]

Hi Mark,

I honestly don't know the answer to that question...

I imagine that the ATP folks might, so I'll give them a call in the morning and find out what I can for you.

Bob

[ExpressJet_Bob]

Mark,

I called too late on Friday... apologies. I'll try again Monday for you.

Bob

[ExpressJet_Bob]

Hi Mark,

I called ATP admissions and I did get an answer to your question for you.

Unfortunately... at this time, Sallie Mae is the only option. That said, I'm being told that if you can get approved for up to $24K through SallieMae then that opens the doors to some other financing options as well. I don't know the specifics on that so I'd recommend a phone call to ATP and ask for "Admissions" to get the straight scoop.


Financing this career is one of the hardest things for folks to do, precisely for the reason you are finding out. There's just not a lot of lenders out there who are prepared to back private career advancement loans.

The best thing to do at this time is get your finances in order, pay down what debt you can, budget, and save, and that will also help build your credit score at the same time.

That obviously sounds easier to than it is... but it's good advice regardless of whether or not you become a pilot.

Hope that helped somewhat...

Bob