Just curious are you planning on doing your flight training through ATP? Im not an expert but when I appled they look at the income you currently make to approve the application. However if you go beyond a single school year and have to apply again for more funds then you would have to provide a new income source which would be difficult considering your schooling.
Make sure you get your free 1 hour intro flight after getting pre-approved. Wells Fargo will probably offer you the lower rate so I would go with them, make sure you establish a PREMIUM CHECKING account before loan closing, this will save you 0.50% instead of the 0.25% that is advertised for the regular checking. As soon as the loan closes you can close the checking account out to avoid the fee. This is not well advertised but it is a thing. Wells Fargo has been great to work with so far.
On a side note as a fellow aviator, in the STRONGEST terms possible I urge to get you PPL before signing on with ATP.
Best of luck
Just a thought but have you looked at US Sport Aircraft? I am going to take a few flights with them in the next few weeks as I want to try out the sportscruiser for a possible future purchase, but I know they have a lot of students that go all the way up to CFI, MEI, Commercial, ETC. Just a second option for you I am sure you have done the research.
If you decide to go with ATP I would apply with both lenders though for sure, as you never know. Another option for financing to consider is through AOPA.
LOL Small world! I heard that they installed a full glass IFR set up for someone using the sportscruiser? IMO Piper >>>>> Cessna, I get sick in high wing AC. I think ATP would probably be a good fit then, I did not end up doing their program but a few of my close friends have enjoyed it. It's just one of those things that you have to go into with eyes wide open.
I am also looking at ATP flight school! Does anyone know what SallieMae/ Wells Fargo's DTI stipulations are on these private student loans? If they go to 60% DTI, I can qualify without a cosigner. Any lower and I don't think I'd qualify, and I will have a very difficult time finding someone to cosign on an 80K loan. I work at a major bank and we go to 60% DTI on personal unsecured loans, but max loan amt is 25K.