Gofly Finance

GoFly Finance is designed to enable students to achieve their flight training goals earlier than they would if they had to save up for tuition fees.  We have teamed up with Mortgage Choice finance broker, Alistair, who is also a graduate of GoFly, to assist our students to access the most appropriate loans for flying tuition. We believe that a personal loan can be paid off faster than a VET fee debt. Below we have listed the three types of training for which you can apply for a personal loan plus some repayment comparisons between VET fee and personal loans.

Recreational Pilot Licence (RPL) Package

Full-time course of approximately 6 weeks duration (part-time is also available) for a total of $17,000. The GoFly RPL Finance Package includes:


RAA pilot certificate


RPL constant speed endorsement


Retractable endorsement


Cross country endorsement 


Controlled Airspace endorsement  


All theory   

Commercial Pilot Licence (CPL) Finance Package

A full time course of approximately 10 months studying five days per week for a total of $58,000 (part-time also available). The GoFly CPL Finance Package includes:


200 hours of flying


All theory   

RAA and GA Instructor Rating Finance Package

A full-time course of approximately 8 weeks’ duration (part-time also available) for a total of $17,000. The price is based on the student having their CPL licence and a minimum of 25 hours command time in a recreational aircraft. The GoFly RAA and GA Instructor Rating Finance Package includes: 


RAA instructor rating and Grade 3 Instructor Rating


All theory   

Personal Loan vs VET Student Loan

VET Student Loans  


  • There is a lifetime limit on VET Student Loan/FEE HELP Debt of $100,879. 
  • There is a 20% loan fee which is added to the balance of the loan but does NOT count towards the Loan/FEE-Help Limit. 
  • While there is no interest charged as such, the HELP/Student Loan debt IS indexed each year “to maintain its real value”, adjusting it in line with changes in the cost of living (as measured by the Consumer Price Index  – CPI). The Indexation Rate for 2017  was 1.50%  and since 2011 the rate has averaged 2.23% per annum.
  • Repayments are calculated on your worldwide taxable income. Repayments commence at an annual income of $54,869, with repayments being 4% of your income, and increasing to 8% of your income for $101,900 & above.

Scenario 1:

VET fee

CPL Course                         $88,000*

+ Loan Fee 20%                $17,600

Total Debt                           $105,600

Average Salary                  $61,000

Yearly repayment            $2,440 pa (based on 4% repayment)

Time to repay debt         73 YEARS!!

*the average cost for VET-fee registered flight schools


Personal Loan


  • Credit approval is based on your existing circumstances
  • Regular repayments & defined loan term
  • Additional repayments may be allowed so you can repay sooner

Scenario 2:

RPL or RAA /Instructor Grade 3 – with a personal loan

Personal Loan                                    $17,000

Interest Rate (indicative)                 10.99%*

Loan Term                                          7 years (84 months)

Repayments                                      $73 per week


Scenario 3:
CPL with a Personal Loan

Personal Loan                                    $50,000

Interest Rate (indicative)                 10.99%*

Loan Term                                          7 years (84 months)

Repayments                                      $199.94 per week



Interest rate


Loan term



Scenario 1: VET Fee



73 years!


Scenario 2: RPL Personal Loan



7 years


Scenario 3: CPL with personal loan



7 years


To enquire about eligibility for loans and to ask any questions, please email Alistair at alistair.mcnee@mortgagechoice.com.au  or call 07 3343 1748.  Alistair McNee (Dip FMBM, A Fin, Franchise Owner, MFAA Approved Credit Advisor) 

** Interest rate indicated is based on Advertised Fixed Personal Loan rate as at 04/10/17.  Actual interest rate will depend the borrower’s specific individual circumstances & are subject to lender’s assessment.

Advice disclaimer: The information provided above is for general education purposed only and does not constitute specialist advice. Because of this, you should consider the appropriateness of the advice to your situation, before taking any action.

All training at GoFly is based on competancy of the pilot and not on hours of tuition. A student will only receive their certificate or licence if they have passed all tests and the Instructor deems their flying to be satisfactory. All pricing for completion of course costs is an estimation only. Finance is provided by a third party provider and GoFly Aviation takes no responsibility for advice given in relation to financial products supplied by the provider.