Looking for Perspective
Hello All,
I've been a long time lurker, but this is my first time posting here; In specific, because I'm finally getting to the point of moving forward with training. The question is how. These forums are filled with good advice and multiple perspectives, but I'm hoping to ask the questions in a frame of mind that might provoke new thought. So, to the questions:
I'll start with the realities. I have no money for training. It's a simple reality. I suppose in another life I might have, had the world spun slightly different at one time or another, but I don’t. With my current career and degree, it will take some time for me to earn enough to cover a sizable chunk. I’ve figured it to be 50% at 5-7 years at my current pay rate and averaged rate of increase. Don’t get a degree in liberal arts.
I’m 25 and recently married. My wife and I have held lots of discussion about this recently, and about our future and how this affects it. It’s a drastic change, and we’re prepared for that. In specific, we know the next several years will be uncomfortable, with financial challenges and uncertainties.
The feedback I keep getting is “now is the time,” from family, pilots at the local FBO’s, and friends alike. While I could do good to save for several years, not only do I have an impatient passion for this, but many have pointed out that even the most frugal of spender has to contend with financial uncertainties. Cars and children seem to be very expensive, and even the most cautious of people can face these financial upsets (not that children are an upset). True, a commercial license is just as sensitive – diabetes can shut one down really quick.
I’m certain this is what I want to do. I have about 20 hours in my logbook, which isn’t a lot of time, but is enough for me to know I could be very happy. I know many could see it as youthful naivety, but I’m well educated on the challenges I’ll face. The grass will brown at some point, and it will take strong motivation to find the green. I’ve faced this with my current career as well; I’m willing to risk this. My happiest 20 hours are the ones in my logbook (aside from the hours with my wife). I don’t care about the glamour, the uniform, the “status,” but rather the experience. Again, I know at some point this might become routine and mundane. Checklists are constants for the most part, and very little excitement occurs in the well-regulated flight deck. It’s something else that I yearn for.
So, I’ve narrowed it down to the following: I need to finance the whole thing. My family can provide limited cost-of-living support, but not much and not for long. My wife will work full-time through it, but academies will require I step away from work for a while – she understands this. I have viable cosigners, so financing shouldn’t be an issue. What I know is that training is a non-reality without financing.
I’ve narrowed it down to two schools, both of which have been discussed here, both of which have a smaller pool of supporters than detractors. I’m hoping this background frames the perspective, and others might provide me some different view-points here.
Aerosim Flight Academy, KSFB
Part 141, 12 month training program with options for CFI employment to meet 1500 hours. Accepts title IV funding, including Pell grants, Direct and Stafford loans, as well as working partnerships with private lenders.
Does not require relocation (within reasonable driving distance).
ATP Academy, KPIE
Part 61, 8 month training program with options for CFI employment to meet 1500 hours.
Working relationship with Sallie Mae financing.
Requires relocation.
Overall, Aerosim comes out to be cheaper. The availability of Pell grants lowers the cost substantially, and they also have agreements with regionals for tuition reimbursement. All in all this drops the total cost of flight training ~&17-22K depending on the individual.
I’m visiting their facility tomorrow to gather more information.
But: If you were in my position, what would you do? You know this is your passion, and what you want to do. The cost is the issue. Financing exists, but it will take a long time to get out of it. In the long term, you know it’s the smarter financial choice than your current career.
Thanks for reading, and I appreciate your feedback!
MarkVI