Financial Assistance From Key Bank

Achieve your dream of flight

We realize that aviation training is a significant financial commitment. Our Key Alternative Loan® provides a financing option that can put your goal of a career in aviation within reach.

 

No payments for up to six months after graduation
Up to 20 years to repay
Borrow up to the cost of education - the aggregate limit is $100,000 for all combined years of training

Interest Rate Calculation Variable Quarterly: tied to 3-Month LIBOR plus 3.30% cosigned and 3.85% non-cosigned
Fees No fees
Estimate Annual Percentage Rate (APR) Cosigned = 5.03%
No Cosigner = 5.53%
Current Rates Cosigned = 5.21%
Non-cosigned = 5.76%
Annual Loan Maximum Cost of education less aid
Aggregate Loan Maximums $100,000 for combined undergraduate and graduate years
Repayment Options Repayment begins 6 months after graduation, leaving school or dropping below half-time status.
Loan Repayment 10 years for aggregate debt less than $15,000 and 15 years for aggregate debt between $15,000 and $60,000. 240 months for aggregate debt greater than $60,000
Monthly Payments $50 minimum
Qualification To qualify, you must be enrolled at least half-time at a two-year private, or three-, four-, or five-year public or private institution and meet the credit criteria. The Key Alternative Loan® is taken in your name and usually requires a credit-worthy cosigner.

 

Repayment Example:

Loan Amount
Term in Years
Monthly Payment
Estimated APR
$40,000
15
$343.69
5.21%
$50,000
15
$429.61
5.21%
$60,000
15
$515.63
5.21%
$70,000
20
$503.81
5.21%
$80,000
20
$575.78
5.21%

Repayment Calculation Assumes:

In-school rate= 5.21%
Repayment rate = 5.21%
Loan Fee = 0%
Interim period = 18 months (12 months in-school plus 6 months grace)

 

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