Pilot training financing
has anyone here (mainly those who have graduated college with a non-aviation degree) decided to go down the accelerated “zero to hero” Part 141 training route after realizing their career choice wasn’t for them? How did you finance the training? Did you use loans? I’m at odds with myself with my situation: just graduated with a masters in Sacred music, job outlook is terrible, you’re making a menial salary at best (lucky to make more than $25k unless you have a DM and teach at the university level, neither of which I will ever look forward to), and no room to grow. Working for churches is the first issue, most of them won’t lift a finger to pay a living wage because you’re viewed as a servant more than a team member, You get a job, then you serve there a little while, then you move elsewhere doing the same thing, same salary, dealing with different people.
/End rant. My apologies.
My point is, I’m looking to go the accelerated training route. I’m 26, and have about 15 hours dual from my Part 61 PPL training so far (which I started in September of 2016…). Im tired of it. Not going anywhere, and every time I think I’m about to solo, I lose funding. Republic just opened their LIFT Academy here in Indy where their HQ is, and I am beyond tempted to place all my risks and fears aside and drop down on a $65k loan to cover the necessary training, then pick up the 5-year contract with RPA flying the 170/175. This actually works out awesome because both the fiancée, myself, and both our families all live in Indy, RPA’s main domicile.
My biggest concerns:
CFI and FO position is guaranteed in one year and three years respectively, but will this actually hold out? The job market might change, the whole situation is very volatile.
I get married in March of 2019. Concerned about how training with LIFT will even work with one person, much less two. The whole kids/family thing topic has already been covered. It is definitely in the future, just not this coming year. The training schedule is considered full time, leaving no possibility for work, and we both want to save her money. Would love to save my money, too, lol. I am covering the rest of the bills.
my hope is that once I pick up that FO job, make 40k, and within the three years I’m there, get the CA upgrade they talk about, and pay the huge loan off with my $85k salary they refer to. How much of their statements is actually true? I have zilch to my name, im a paycheck to paycheck guy (because I make next to nothing), and I have a life to pay for. This is additional expense, in addition to $12.5k that I owe for undergrad studies in a degree I wasn’t cut out for. Lovely. I am absolutely depending on their claims to get me out of this alive.
My other conceivable option is the USAF reserve. Anyone had experience with this? What can you tell me about it? Salary, training requirements/schedule, flight opportunities, etc?
Anyone out there who’s going to ATP, FlightSafety, or one of the airline cadet programs? How are you doing it? Are these guys holdin true to their word or are they just scheisters taking kids’ money? Please discuss. Thanks!