At Spectrum Airways, we currently have two options for student financing:
1. Student Line of Credit
2. Gratify Financing
Unfortunately, flight training costs are not OSAP-eligible but you may be able to utilize your RESP’s.
Student Line of Credit:
If you are a Canadian resident, you may be eligible for a Student Line of Credit. You may contact your own bank to inquire, or try Tandia Financial Credit Union. The student line of credit will allow you to only pay interest on the portion you have withdrawn. Click here to book your initial appointment.
When booking your appointment, choose:
- Borrowing, Personal Line of Credit
- The method you prefer for the meeting
- Ensure you choose “Milton Main” location
- Select a Staff Member “Dee Vithalbhai”
Gratify Student Loans:
How it works:
Spectrum Airways will receive equal payments every 12 weeks from Gratify as follows:
24-week term: 2 equal payments of your loan amount
48-week term: 4 equal payments of your loan amount
60-week term: 5 equal payments of your loan amount
For example: for a 60-week term with a loan of $20,000, Spectrum Airways will receive 5 payments from Gratify of $4,000 every 12 weeks. This amount will be applied to your Quickbooks account for your use towards your training.
If you have used all funds on your account before the next credit is available, you will be responsible to pay the amount due at the time of purchase.
Sample Loan Structures:
All Gratify loans are structured where the first payment is due immediately, and remaining payments are due every 4 weeks thereafter until the end of the term (for example - the 24 week term for a $10,000 loan will have 7 payments of $1,571.48).
Check now to see if you pre-qualify (this will not affect your credit score) by clicking the link below:
Note: you will need a Canadian credit card to apply for a Gratify loan.
If you have pre-qualified and would like more information, please contact carolyn@spectrumairways.com.