Apply now or wait...
 

I currently meet every single minimum for the ATP except for total time which I'm sitting at 1335 with 500 multi-turbine. I went to school and earned my bachelor's degree in aviation. Two years after graduating, the university was approved for the R-ATP.

Now, only thing is that I completed my commercial multi under part 61. So most tell me that I don't qualify for the R-ATP. But Part 61.160(c)(3)(ii) states:

"The required flight training was completed as part of an approved part 141 curriculum at the institution of higher education OR at a part 141 pilot school that has a written training agreement under §141.26 of this chapter with the institution of higher education"

So, my commercial multi training was done at a 141 pilot school that has a written training agreement.

Other than just this, I meet everything else.

I'm assuming that most will say to fly to 1500 since i'm so close but my current job is seasonal so flying is about to slow down dramatically and I don't want to wait any longer than I have to.

So, I have two questions,

1. Do I qualify for the R-ATP?

2. If I don't qualify, should I apply for the regionals now with my currently experience or wait until i reach my 1500?

(places like PSA only require 1300 to interview but i'd like to have a chance for a base on the west side of the country)

Any answers you get on here may come from people with good intentions, but that can't say for certain how the FAA will answer, including me. So, that said, I'd consider several possibilities. One, if you went to an aviation college, see if they can track down an official interpretation of your situation. Two, call the AOPA Legal Services folks for help. They can at least point you in the right direction if they don't have the answer. Three, call your local FSDO, or better yet, the FSDO that oversees whatever regional you want to work for. Four, worst case, assume you qualify until someone officially says you don't.

As for the apply now vs. later, I say apply now. Rumor is that some airlines will interview you and allow you to call them after you log the balance of the time you need. If they call you, great. If not, keep updating your apps as you log more time. The phone will eventually ring.

You could also contact the university / any of the aviation professors you knew. They'll be familiar with their program and what's approved. But I'm fairly sure you needed to have checked "141" on your Commercial 8710. I did a university program too and was lucky enough to have completed it all 141 before anyone knew it would be required. My roommate/classmate had been doing it 141, but ended up taking his Instrument checkride part 61 to skip a few flights and save a few hundred bucks. Now he has to build an extra 500 hours. Hindsight is 20/20.