Interesting stuff RJ.


So maybe it isn't such a bad idea to shop around for a very local "FBO" (still don't know exact meaning), around Burbank, Van Nuys, or Whittman, at least to get certified up to MEII, but I will still need to get a loan. I can't really pay as I go right now. Don't have enough $$ coming in to get this done in a timely manner and still pay the bills. So, I have decided to use my GI Bill benefits [Coast Guard], which will pay for 60% of every billable hour, up to around $35,000 (except for my private license). The private cert will cost me at least $2500-$3500 right up front if I shop around. I will pay for that part out of pocket from my savings. No problem. Although it would be nice to just factor that cost into the total $ amt of the student loan I will ultimately have to get, to include every certification, exam fee, add on, transition, etc.. And make payments on it once I get a better paying job. But here's the catch, the VA will only pay out $1000 per month, once they start receiving claims. And again, only at a rate of 60% of every billable hour they receive a claim for. Which basically means I will have to get a loan, rack up as many billable hours as possible in a month, and then use the $1000 GI checks to make payments on my loan (until they run out), at which point I will be paying from savings again. It doesn’t take a genius to figure out that time, really is of the essence in this case. So I will get a loan, be able to make about 35 monthly payments of $1000 and then... hopefully after 35 months or 3 years, I'll be hired on with a company making enough money to pay the rest of the loan off (probably another $35,000), that could be stretched out over the next 15 years if necessary, and still pay the bills.

UNDER THESE CERCUMSTANCES...


In your opinion, would it be better to go to an ATP type program, or continue on with "FBO" after I complete my private cert.?