What is the purpose of CAM?
To provide educational loan repayment grants for mission-minded aviators and mechanics serving on the mission field.
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What does it cost to train an individual to fly mission airplanes?
Most mission aviation organizations require both an airframe & power plant (A&P) certificate and commercial pilot’s license as well as theological coursework. Approximately $40,000.
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Does CAM co-sign or guarantee student loans?
No. Proverbs 6:1,17:18,22:26
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How will CAM be funded?
CAM will rely on private and corporate monetary donations, para-church organizations and denominations, and foundation donations.
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Who will manage funds?
The first $10,000 will be managed by the National Heritage Foundation. Assests over $10,000 will be managed by First Financial Advisors of Muskegon, Michigan.
www.firstfinancialadvisors.com
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What is the percentage breakdown of funds donated?
At least 90% towards Educational Loan Repayment Grants, 6% in fundraising costs and 4% in administrative costs--for the first year. In the future, we hope to fund fundraising and administration expenses through the interest earned on the student accounts that we repay the student loans from.
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Does Christian Aviation Ministries have any paid staff members?
No. All advisory board members are volunteers.
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Who can apply for loan repayment grant funds?
Individuals who have or are expected to completed training with in 18 months and have aviation training related student loans.
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How does CAM's Educational Loan-Repayment Grant work?
Any individual who feels called to the mission field as an aviator or mechanic can apply through a partnering aviation missions organization or school for the loan repayment grant. Student loans must be held by a lending institution and repayment will be done directly between CAM and those lending institutions as long as the grantee is actively serving in the mission field.
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What roll do mission aviation schools play?
Participating mission aviation schools will aid in promoting Christian Aviation Ministries, play a vital role in the accountability process, and most importantly train missionary pilots.
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What roll do Aviation Missions Organizations play?
Partnering Aviation Missions organizations will help identify Grant applicants for the educational loan-repayment grant. They will also help recipient be accountable to CAM and their own supporters while on the field.
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Is there a fee to be an associate member of CAM?
No. We do ask for a self-specified monetary donation when partnering. We believe that some investment represents willingness in our associates to be active participants in Christian Aviation Ministries purpose.
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What happens if the 4 year obligation is not met?
The award winner will resume payments of their debt with their lender, and the funds raised for their account will be dispursed among other individuals grant repayment accounts.
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What is the National Heritatge Foundation?
The purpose of the National Heritage Foundation is to conduct charitable activities that in the opinion of its Board of Directors tend to restore, maintain and extend our national heritage of people helping others. NHF provides a framework for Christian Aviation Ministries to operate as a 501(c)(3)& 509(a)(1)organization. More information at: www.nhf.org
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What happens to funds should CAM dissolve?
CAM will equally disburse the funds to its associates.
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