Originally Posted by
40yrOldRookie
. . . . One thing that is really important for me is that the financing can go through Sallie Mae,. . . I don't want to go through a mortgage or anything that would potentially put my assets at risk . . ..
Originally Posted by
TiredSoul
Really take a good look at this.
As far as I remember SM charges a very high interest rate, on par with credit cards.. . .
This doesn't even scratch the surface on the debates over financing flight training... Yes, take a good look. Go home, sit on the idea and then research it some more. Like a large college loan, it can ruin you. Taking out $100k, using a large portion of it, and then something unplanned happens like a car accident, fall, or freak medical condition can leave you holding a large amount of debt and potentially unable to continue training. Sure that can sound extreme, but it can, and does happen. I believe I already mentioned in one of my initial replies to you about not giving flight schools large amounts of money up front - this kinda goes along with that principle.