Originally Posted by
atpcliff
...because you need a LOT OF MONEY to become a pilot...way more relative to the average income thann in the past, AND you can't get a bank loan anymore to pay for all your training, like u could in the past...
I have FO's that claim to have $150K student loans to ERAU. I have no reason to doubt their claim, but I do doubt the logic of such a debt load for the pay/ jobs offered. I honestly don't know how you service that much debt on Regional FO pay, or for that matter on any Regional pay. By the time you pay rent, groceries, utilities, and interest on the note is there anything left
I guess if you and your family live in your parents basement until you're on mainline 3rd year pay maybe it works. But is it really worth it? I paid for my flight training cash, and yes it did take a little longer but I'm convinced being debt free is the only way to survive this "career."