Heli Training Costs and Helicopter Fleet
HELI TRAINING COSTs
Overview of Approximate Total Heli Training Costs
Total heli training costs vary from student to student based on individual ability and scheduling. We have made an approximation of those costs based on the Federal Aviation Administration’s minimum requirements including written exam and checkride fees. All prices are subject to change. Prices effective January 1, 2016.
|Overview of Cost||Minimum*||Suggested*|
|Approximate Total Cost||$ 60,152.50||$ 94,162.50|
|Private||$ 14,997.50||$ 14,997.50|
|External Load||__||$ 9,125.00|
|Advanced Flying Course||__||$ 14,150.00|
|Commercial||$ 35,072.50||$ 18,182.50|
|CFI||$ 10,082.50||$ 10,082.50|
|200 Hours Helicopter||__||Included|
|SFAR Instructor Endorsemnt R22||__||Included|
|SFAR Instructor Endorsemnt R44||__||Included|
*MINIMUM COURSE TO QUALIFY AS CFI AND COMMERCIAL PILOT
**LEADING EDGE SUGGESTED PROGRAM TO QUALIFY FOR AN ENTRY LEVEL POSITION
Some additional heli training costs that you can expect to encounter during your training are: text and materials, headsets, handheld GPS (if desired), etc.
Through Leading Edge Flight Academy
There are a few options for private loans going through our program directly. Below are some of your options:
Pilot Finance: Provides loans for students who fly only part time and just need a little bit of additional funding to complete the rating they are working on. The loan amounts will be a small amount. Their website is www.pilotfinance.com. This loan will not work for students who want to go through the whole flight program.
AOPA Flight Financing: The funds can be used for everything from starting and finishing primary training to advanced training, such as instrument training or obtaining a commercial certificate. Unique features of AOPA flight training financing include the ability to borrow up to $100,000 over a 24- to 84-month period with no money down, no loan minimum, and minimal paperwork. Their website is http://www.aopa.org/News-and-Video/All-News/2015/March/03/AOPA-offers-flight-training-financing.
Local Bank or Credit Union: This option may be the best option for you, if you decide to go directly through Leading Edge Aviation. Approval for these loans is based on your credit score and your debt to income ration. Private lenders may be able to give a potential borrower enough to complete our aviation program.
Through Central Oregon Community College
The best option, if you need financial aid for flight training, is going through Central Oregon community College (COCC). When you go through COCC you could be eligible for federal student loans. To receive federal financial aid for flight training, you must enroll in Central Oregon Community College (COCC). Going through this program would allow you to utilize federal funding to help complete the program.
Federal Funding: Free Application for Federal Student Aid (FAFSA): When you apply for federal funding they will process the information to see if you qualify for grants and scholarships which is free money. You can find the Free Application for Federal Student Aid at www.fafsa.gov. You will need to apply using COCC’s school code and we advise that you have completed an application for admission before beginning a FAFSA form. The application is free to complete and does not obligate you to participate in student loans; however, federal student loans often have better terms and conditions than Alternative Education Loans. Please note that applying for financial aid is a process and it can take up to 8 – 12 weeks to process your FAFSA information. The type of loans you can be eligible for are Direct Loans, PLUS Loans, Alternative Loans.
Scholarships: Scholarships are available through private organization and can help cover some of your educational expenses. COCC has more information regarding general scholarship opportunities on COCC’s website. In addition, there are many scholarship opportunities specific to aviation.
You will not be able to use federal funding alone. You will most likely need to apply for an alternative loan.
Alternative Loan: Private Loans are offered by private lending institutions for heli training costs and are not guaranteed by the federal government. These funds are available to credit and non-credit students who may not be eligible for federal financial aid or who may need to bridge the gap between the actual cost of education and their federal financial aid. You go directly to a lender to apply for these loans. The lender will interpret credit history and other determining factors to see the student is eligible. Some may require that you obtain a cosigner before approving your loan. These are not guaranteed loans, so you need to apply wit h the lender of your choice to determine if you qualify. Alternative loan regulations will take a minimum of 30 days to process. However, you must not apply more than 90 days prior to the term as the lender may cancel your loan.
The lenders are usually Sallie Mae, CU Student loans, and Wells Fargo. Click here to check out COCC’s alternative loan website.
COCC encourages students to exhaust all other financial resources such as grants and student loans by applying for the Free application for Federal Student Aid. Scholarships may also be an alternative resource before deciding to apply for Alternative Loans.
If you would like more information regarding financial aid please feel free to go to Central Oregon Community college’s financial aid page.
Chapter 33: Post 9/11 GI Bill®
You are eligible if you served at least 90 aggregate days on active duty after September 10, 2001, or were honorable discharged from active duty for a service-connected disability after serving 30 continuous days following September 10, 2001. VA students who are eligible for chapter 33 as well as chapter 30, 1606, and/or 1607 must make a choice of which benefit to receive in order to receive chapter 33.
There are 2 types of coverage that the post 9/11 G.I. Bill can cover:
1. Central Oregon Community College Aviation Program: You could be eligible for 100% of tuition and flight training including your Private rating under this G.I Bill. You will also be eligible for a monthly housing allowance (MHA) and books & supplies stipend of up to $1000 per year. You will be able to receive the following ratings:
Helicopter: Private, Instrument, Commercial, Certified Flight Instruction (CFI), Certified Flight Instrument Instructor (CFII), Mountain or External load (Long line) training, and Night Vision Goggle (NVG) training.
Fixed Wing: Private, Instrument, Private Multi Engine add on, Commercial SEL and Multi Engine, Certified Flight Instructor (CFI), Certified Flight Instrument Instructor (CFII), Multi Engine Instructor (MEI), and Commercial AMEL add on Multi Engine Instructor (MEI)
2. Leading Edge Aviation Program: You could be eligible for $13,031.61 per year to pay for flight training. You can use this amount to help pay for these ratings: Instrument, Commercial, Certified Flight Instruction (CFI), Certified Flight instrument Instruction (CFII). This route will not pay for any part of your Private rating.
Chapter 30: Montgomery G.I. Bill-Active Duty
This is an education program for individuals who initially started active duty on or after July 1, 1985 and for military retirees who entered the service before 1/1/77 and were eligible to receive chapter 34 benefits on 12/31/89. You must establish eligibility under one of these four categories:
Category 1: for those who first entered active duty after June 30, 1985, and didn’t decline the MGIB in writing upon entry into active duty.
Category 2: for those with remaining entitlement under the Vietnam Era GI Bill (Chapter 34, title 38, U.S. Code).
Category 3: for those who were involuntarily separated for certain reasons or those who were separated under the VSI (Voluntary Separation Incentive) or SSB (Special Separation Benefit) program.
Category 4: for former Veterans Educational Assistance Program (VEAP) participants who elected to convert to MGIB during the open window periods, and for a small group of National Guard members who were given a brief opportunity to elect MGIB.
Chapter 1606: Montgomery G.I. Bill- Selected Reserve
This is an education program for active member of the Selected Reserve. Selected Reserve components include the Army Reserve, Navy Reserve, Air Force Reserve, Marine Corp Reserve, Coast Guard Reserve, Army National Guard, and Air National Guard. You can be eligible for chapter 1606 benefits, if you meet the following requirements:
• Incur a six-year Selected Reserve Obligation. You must enter into a six year obligation to serve in the Selected Reserve. If you’re an officer, you must agree to serve six years in addition to your current obligation.
• Complete your IADT (Initial Active Duty for Training).
• Maintain Selected Reserve Status. Serve in a drilling Selected Reserve unit and remain in good standing.
• Complete High School. You must obtain a high school diploma or equivalency certificate before you apply for benefits.
Chapter 1607: Reserve Educational Assistance Program (REAP)
This educational program for Active members of the selected Reserve called to active duty in response to a contingency operation declared by the President of Congress. The Department of Defense and the Department of Homeland Security (Coast Guard) determine who’s eligible for chapter 1607. You may be eligible for REAP benefits if you meet the following requirements:
1) Served on active duty on or after September 11, 2001, in support of a contingency operation for 90 consecutive days or more; or
2) Performed full-time National Guard duty under section 502 (f) of title 32 for 90 consecutive days or more when authorized by the President or Secretary of Defense for the purpose of responding to a national emergency declared by the President and supported by Federal funds; or
3) A member called or ordered to active service while serving in the Selected Reserve remains entitled to benefits under REAP only by continuing to serve in the Selected Reserve. A member called or ordered to active service from the Individual Ready Reserve (IRR) remains entitled to benefits under REAP by continuing to serve in the Ready Reserve (either Selected Reserve or IRR). Note: You may be eligible as soon as you have served 90 consecutive days on active duty in a qualifying period of active duty. Not all call-up service is necessarily qualifying for REAP. DoD/ DHS identities which reservists and full-time National Guard members are eligible. In some cases, serving in an AGR (Active Guard and Reserve) may be qualifying service.
Montgomery G.I. Bill Chapter 60, 1606, and 1607 covers if attending Leading Edge Aviation:
If you are 100% eligible for these G.I. Bills they will cover 60% after receiving your private up to the allowed amount listed in the Veteran Information Bulletin. You can use these G.I. Bills to help pay for these ratings: Instrument, Commercial, Certified Flight Instruction (CFI), Certified Flight instrument Instruction (CFII), Airline Transport Pilot (ATP). You can also use these G.I. Bill benefits to attend Central Oregon Community College. You can also go to COCC’s VA website. Please contact VetsEd@cocc.edu for more information.