Originally Posted by
Flyboyxc91
You sound like your in pretty much as good of a position as one could hope for IF getting loans is the plan and going forward without too much difficulty. I am debt free like you and was set for a loan of $28,000 until I found money elsewhere without interest and no timeline (AKA Family).. I wasn't worried about the loan though at 3.8% with no early repayment penalties.
The only good position in regards to getting a pilot loan is before you get one. But feel free Op to get a loan. There are plenty of threads on the topic and even some post on here from professional pilots telling you not to do it. Unless you got money in the bank from family, a loan is a stupid way to go if you don't have any real means of paying it off... and that includes working as a CFI for $25K a year.
I will guarantee this. If you take the loan you will be living in your parents basement for a long, long time. So I would talk to your parents first and let them know you'll be sharing the sofa in the basement with Rover for a couple years...