Originally Posted by
Hflyr51
Pilots,
Huge post!
I'm currently active duty Army, about to transition out within 5 months. I hold a PPL ASEL certificate with 110hrs, 33 years old with a wife and two kids. I'm able to maintain a Class 1 medical rather easily. I'm trying to decide how I want to continue my flight training. I'm going to post my two scenarios based on my ultimate goal as to fly commercial whether that's corporate or Airlines. Preferably airlines.
1st Scenario:
The local flight school I obtained my PPL with has extremely affordable rates for me to finish up to my CFII in comparison to a majority of schools around. Since I am Part 61 PPL, and I already have my 50hrs of PIC cross country there isn't much left needed to finish up my Instrument. Along with time building, the school quoted me less than 20K to finish up to my CFII. It cost me $7500 to obtain my PPL with the school at the FAA minimum 40hrs. All in a Cessna 172M/N.
So, with that training plan in mind, this still leaves out a couple very important factors that I have to consider.
1. I would have to pay for this with loans and or credit cards.
2. I would still have to get a BS degree for when I planned on transitioning to a major airline in the future.
3. The time it would take me through Part 61 to obtain all my ratings is far quicker than any Part 141 College degree program. By my calculations, it would take me roughly 2-2.5 years from the time I started training an became a CFI to the 1500 ATP requirement.
Sure, this would likely get me to a regional airline fairly quickly. Then at this point, I could utilize my GI Bill to obtain my Bachelor's degree. I spoke with a Delta Captain/Instructor Pilot, he said that from his experience it was very difficult for pilots to finish their degree in the time necessary to be eligible for a major airline.
I have seen in forums, and from other pilots recommending getting a degree outside of aviation to fall back on. With this scenario, this would be apart of the plan.
I am quite ok with getting loans to pay for my flight training if in fact, this is the best situation for my needs.
Not a pilot yet. However, just from a life perspective and from someone whose seen every economic downturn since Reagan was in office, never play your education short. If you have a degree goal in mind and care about your education, finish the degree, first. You will be so glad that you did.
Second. If using debt to financial your professional career is the only viable path, then you'll have to take that decision very seriously. If paying your way through the educational process (no matter whether College or Flight Training) is doable and more in-line with your values, then I'd serious consider that path and exhaust all possibilities along those lines.
I worked my way through a Bachelors, Masters and a PhD program. It was not easy. In fact, it was very hard at times. However, the rewards for having done so, are still flowing to this very day and that was many years ago. One of the biggest benefits was not having to service many years of debt in the next phase of life. I've never been a fan of Personal Debt. Principally, because it reduces your career flexibility in ways that you probably won't be able to appreciate until you need to be flexible (Marriage, Children, Lifestyle, etc.).
I can't offer advice or opinion on how to become a CFI. I'm going through the process of selecting one right now. However, on Education & Debt, I think self-financing your education whenever and wherever possible is probably going to be the right approach in the long-term. But, for you and your family or eventual family.
Originally Posted by
Hflyr51
2nd Scenario:
Being a Veteran, I have my Post 9/11 GI bill. This would allow me to attend any Yellow Ribbon school. Which would pay for all of my flight training and degree. I'm very interested in hearing other Veterans experience with these programs. I like this idea because it would be paid for. However, from my 1st scenario above, I mentioned that many pilots recommend obtaining a non-aviation related degree. Thoughts?
Any Degree Program that does not establish a multi-year personal debt profile and allows you to study the subject of your choice freely, has got to be a good thing both now and in the future.
It is a really good idea to think both about the present and the future. Good economies come and go. What's up today will be down tomorrow. Increasing job growth today reverses to decreasing job growth tomorrow. Strong hiring today, weak hiring tomorrow. Yet, your Personal Debt Profile will endure through all those economic swings.
There is nothing worse than living the life of a Debt Slave. Try to become Debt Free. This is first accomplished through the self-discipline of living within your means and learning how to manage and grow your own capital. In fact, this should be course material in High School. This will free you in the future, such that you are able to make strategic decisions about your Life and your Lifestyle, which is inclusive your Professional Career. That's the "flexibility" I mentioned above.
Everything in life is connected. Most don't understand just how connected everything truly is in this life and they make assumptions and strategic decisions in their life that demonstrate that on a daily basis. Money is connected to Career. Career is connected to Family. Family is connected to Life. And, Lifestyle is connected to Health (Mental and Physical).
The point is that you be Happy with whatever decision you make and that you do it with both the present and the future in mind.
Originally Posted by
Hflyr51
If you've made it this far in this post. I sincerely appreciate your input and time taken to read my post. Your response will be greatly appreciated!
You are thoughtful, forward looking, analytical and smart enough to ask the right questions. You will glean the good advice, toss the bad advice in the trash where it belongs, evaluate your options and come to the correct decision that works best for yourself and your Family.
I respect people that contemplate and evaluate their options. All the best in your decision making! You're going to do just fine.
