FINANCING
Marlene O'Connor
Director of Finance
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If required, 100% financing is available through private student loan programs
for US residents with an acceptable credit rating or with a co-borrower with an acceptable credit rating.
Financing is only available to non US residents if they have a co-borrower with an acceptable credit rating
who is a US resident. Upon enrollment, UHI will provide applicants with all essential financing documents
and will personally assist by phone or in person throughout the application process. Loans are agreements between each individual
student & co-borrower and the lending institution.
Financing and the Credit Crunch
Private loans have been significantly impacted by the present credit crunch although they are available:
- Credit Standards are stricter at present due to the fact there are fewer lenders making loans.
- Greater emphasis on a co-borrower. It will be crucial for students to apply with a credit worthy
co-borrower in order to get approved for a loan even for graduate and professional students.
Eligibility
Full Time and Part Time UHI/UVU Global Aviation Degree students who take a minimum of 6 credits per semester are eligible for private student loan programs.
Fees
There are no loan application fees.
Borrowing Limits
There is no set limit. To complete the entire program, most students borrow between $85,000 and $95,000. But in the present restricted credit situation, students can apply for loans for each certificate or rating.
Interest Rates
Interest rates are variable and depend on the market and the credit rating of the borrower or co-borrower. There are loan fees associated with all loans. Each lender has a different fee schedule.
Repayment Terms
Repayment on private student loan programs begins six months after graduation or withdrawing from the UHI/UVU/Global Aviation Degree Program. The maximum repayment term is 20 years depending on loan amount and credit rating. Loan repayments can be deferred up to 5 to 10 years depending on continuing your UVU/Global Aviation Degree Program education with a minimum of six credits per semester.
Loan Applications and Information
For loan applications, or more information about the loan programs, please contact Universal Helicopters at 1-866-I-FLY-UHI (1-866-435-9844).
Student Enquiry Form – We may request you to complete a Student Enquiry form to help us to assess your training enquiry against your specific situation and flying objectives. We will advise you if and when we would like you to return the completed form.
Flight Training Enrollment Forms – When you are ready to enroll, UHI will request you to complete the
appropriate Enrollment Form. This will also assist us in any Student Loan finance application process. If the applicant is a non US Citizen,
a completed enrollment form is required to support the TSA Security Clearance application and any Training Visa application that may be
necessary. (These forms can be completed on-line and need Adobe Reader version 7.0.9 or later. If you do not have a PDF viewer on your
computer or your viewer will not open or display the documents, click for a free download of the latest version from http://get.adobe.com/reader/).
This form is for special use only.
Once completed on line, e-mail to UHI at info@universalheli.com or print,
sign and fax them to us at +1 480 951 6285. Please note that “hand written” faxed forms are not acceptable.
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