Originally Posted by
DarkSideMoon
Which is great and all, except for some loans are the only way it's even a possibility. If I'd worked for four years instead of going to school I'd just now have enough money to get all my ratings. Every year you delay going to an airline is potentially 200-250k lost off the end of your career. It's a gamble, for some it's worth it and others lose their shirts, but it isn't illogical.
Trust me, I get it. I was an economic casualty of the lost decade. In one day, 9/11/01, many thousands of aviation careers were destroyed. Being free of debt made it possible to go work any job, doing anything simply to survive. All it will take is one market downturn, one brilliant idea (insert sarcasm here) to go to war, or a flood of NAI type carriers to shut down this party that we are now somewhat celebrating as a so-called pilot shortage. Be not a borrower nor a lender.
One thing that is often not discussed is not only is the principal amount taken out in loans a substantial amount in the beginning, but the compound interest upon that sum is destructive. You are right: it is a gamble. However, the odds are stacked in favor of the house. Salle Mae and her ilk will not simply let you walk away from student loans.