Flight training, like any career training opportunity, costs a substantial amount of money.
One question you should ask before you invest in anything, including flight training:
How do I know my investment will be safe?
There have been situations in the past where flight schools have gone out of business, leaving students who had prepaid for training in a bad situation.
There is a solution. This letter from APG’s CFO, John Williams, explains more:
In an effort to be completely transparent and open with student funds, Airline Pilot Gateway (APG) uses the following process to manage student funds.
APG has developed an innovative method to protect our students’ investment while waiting for flight training expenses to be accrued and paid.
APG has teamed with a well-known United States bank. Together with the bank, we can created a Trust Account. The funds are deposited to this trust account in anticipation fo flight training. The bank then has fiduciary responsibility for the funds.
As the student proceeds through the training program, we receive invoices from our training centers, which are then submitted to the bank from APG; the bank then pays on behalf of the student. Should there be any funds remaining after the student has completed or withdrawn from training, the remaining funds will be dispersed based upon the students’ request.
By law, the funds cannot be used for any reason except those stated above.
John Williams, CFO
Airline Pilot Gateway
In simple terms, money you deposit into your account is YOURS until it’s spent on flight training expenses.