To receive additional funds for your training expenses, request a draw from your line of credit by logging into your account with UAS.
With the unique structure of our line of credit, you can borrow up to the full cost of the remainder of your training. You will not need to reapply (assuming there are no significant changes to the borrower or co-borrower credit scores). Simply request additional funds (called a "draw") for the amount you wish to have disbursed to your school (based on your school's certified amount - read more below).
Funds are disbursed to your school based on the school's disbursement cycle. You will request the specific draw amount from your line of credit as needed.
No, This product is not designed to refinance an existing flight school loan. We recognize this is a need for our members that have previously completed training and obtained their commercial pilots license and we're hard at work on another solution for that purpose.
The Credit Union may also have other options available to assist with existing debt, please contact one of our Cadet Advocates to discuss your specific financial needs.
University Accounting Service (UAS) will service your loan. Once your loan has been disbursed or entered repayment, you may contact UAS with questions at 877-530-9782.
Please log in to your account. You may also contact UAS at 877-530-9782.
Please log in to your account or contact UAS at 877-530-9782 to set up automatic debit for your student loan payments.
You may defer required payments until 27 months (Grace Period) after completing your flight school training (Instructional Period). Any payments made during the Instructional Period will go towards principal only. Payments made during the 27 month grace period will go first towards any fees, then to accrued interest, then to principal.
Contact our Cadet Financial Advocate team for additional information or questions.
To change your repayment option, please contact UAS directly at 877-530-9782 to discuss your options.
The repayment term is 20 years if your principal balance at repayment is $40,000 or less, and 25 years if your principal balance at repayment is more than $40,000.
Full repayment begins at the end of the grace period, unless full repayment is requested and granted prior to the end of the grace period.
You will be assessed a late fee if your payment is not made on time. Please log in to your account or contact UAS at 877-530-9782 to make a payment.
Graduated Repayment is repayment of principal and interest using an extended amortization period intended to lower the monthly payment amount, after which payments are higher and based on the remainder of original term.
Payments are due in accordance with your repayment schedule. If you are unable to make a scheduled payment, you must contact the loan servicer (UAS) at 877-530-9782 before the payment due date to determine if alternate arrangements can be made. Assistance such as reduced payment or forbearance may be available for borrowers dealing with financial hardship. Please contact UAS to discuss your options.
No. You can pay off your loan at any time, even if you're still in training.
Depending on the interest you paid over the prior year, your document will be mailed by the loan servicer. You may also access these documents by logging into your account or contact UAS at 877-530-9782.