Originally Posted by
Mesabah
The 11% is due to default when their first regional went TU. The issue is that that debt should have been shed in a personal bankruptcy.
They don't allow people to BK college loans for very, very good reason... it allows unsecured school loans.
Most college grads are broke and unemployed by definition. If given a choice between getting whatever job they could and starting the long grind of paying off loans OR just filing BK right away, you know what most would do. The BK would be off their record before age 30.
End result of that would be mass defaults and no more unsecured loans, so those who need it most would be shut out.
Originally Posted by
Mesabah
This is what your debt load might look like if you participate in one of the Legacy college hiring programs, and the industry has a hiccup.
Risk you take, or you could just go get a desk job. But the risk of industry hiccups impacting pilot hiring in a large negative way is pretty low by historical standards.