spladle29

I am seeking information about potential flight schools to pursue or what the best option is for me to become a professional pilot. I would be starting from absolutely no knowledge about aircraft or flying, I will just throw that out there.

A little background: Just turned 24 y/o, live in the Midwest nowhere near a reputable flight school, have a bachelor's in finance from a major public university, currently making 46k in the banking industry. Also, I found out around my Jr-Sr year of college that I actually find finance/business to be as boring as staring at a wall for 8 hours a day but I thought it was too late to switch majors for me. I have a relative who has flown for a major for at least my entire lifetime and also has the best lifestyle of any of my relatives. Recently I lightly brought up that I was considering flight school, maybe, and he was very passionate and encouraged it.

I have done a lot of research over the last couple weeks and I understand I'd basically be committing myself to financial hardship for at least 5, likely 10 years. The biggest obstacle, like probably everyone else, is the insane financial cost involved with flight school combined with low wages for a long time. Like, if I were to go to ATP, I'd be putting my student loan debt from 28K to around 100K, and making less money for about 5 years. I do believe that if you view it as a long term investment, in 10-20 years it will pay off, assuming you land with a major. I would not have any assistance - I would have to take a loan out for 100% of costs. I don't know details about other loan programs, but with ATP through Wells Fargo/Sallie Mae, from what I have read on this site/other sites from people with experience the loan rates are around 8% if you're lucky. As you all know that is terrible, and would put payments around $1,000/month with repayment starting 6 months after graduation, presumably while in a CFI position. CFI positions sound like they make 15-20 hr range? That puts us at like, 2,000 a month after tax income? 2,000 a month after tax income - (300 current student loan pmt + 1,000 flight school loan pmt + 300 current auto loan pmt) = literally impossible. On ATP's site, they lay out a sample guideline for tuition reimbursement as receiving $300 monthly assistance from your regional while you are a CFI, with interest only payments that would cover the majority of your payment. That basically keeps you afloat without paying a dime towards principal. In my profession, that is cringe-worthy; a colossal mistake. But it would tide you over until becoming a FO for said regional, then they pay $500 a month it seems like. Basically keeping you afloat until you get to a position where you are able to start making your big boy payments. Not sure if I'd be able to defer my federal student loans for flight school, will have to look into that.

I see ATP getting flamed left and right, a lot of which for their extreme financial burden, but the other flight schools I have viewed are actually more expensive?? ATP says their program starting from 0 is $69,995 and to prepare for additional 9k in costs. If you get your PPL in advance, the program is around 54K. My previously mentioned relative recommended Flight safety academy, theirs is over 80k. I have looked at a handful of others and have not found anything under 70K. Are there other options out there that don't sacrifice quality but would come at a lesser financial burden?

Another question I have relates to seniority. I have read/heard that now is a great time to enter the industry. My gf will be done with nursing school in 15 months and is skeptical but surprisingly relatively supportive of the flight school idea. How much would waiting 15 months hurt me?

These are all kind of feeler questions, but I truly greatly appreciate any responses and feedback.