Increased Student Loan Limits and Grants for Commercial Pilot Training Programs.
This act significantly raises federal student loan limits for individuals pursuing commercial pilot training, making the high cost of flight school more accessible. It mandates that flight programs must maintain a high completion rate to ensure quality and protect students. Furthermore, it establishes a grant program to fund scholarships and outreach aimed at diversifying the pilot workforce.
Key points
Higher federal loan limits (Stafford Loans) for students in eligible flight education programs to cover expensive training costs.
Introduction of a 70% minimum completion rate requirement for flight schools to maintain eligibility for increased loan limits.
Creation of a new grant program ($40 million annually) for scholarships and recruitment efforts targeting underrepresented populations in aviation.
Increased transparency: students must receive detailed disclosures about the total cost and repayment schedule of the loan before disbursement.
Status:
Expired
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