Originally Posted by
Iowa Farm Boy
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."
Most of those loans will never be repaid. The schools should be shut down for allowing that kind of loan for a $30,000/year. Most of the students with this type of loan debt were told it would take half that amount and by the time you realize you are screwed you have no choice but to finish.