www.allatps.com
03-23-2007, 08:17 AM
#1
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Thread Starter
Joined APC: Jul 2005
Posts: 2,242
www.allatps.com
Seniority is everything.
This very afternoon you can get a loan for 90K at 8.25% thru Bank of America. Thats 90K @ 8.25% with zero origination fee.
Don't get left behind. Captain, the future is yours!
-LAFF
This very afternoon you can get a loan for 90K at 8.25% thru Bank of America. Thats 90K @ 8.25% with zero origination fee.
Don't get left behind. Captain, the future is yours!
-LAFF
03-23-2007, 08:55 AM
#2
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Joined APC: Feb 2007
Position: Lav
Posts: 992
Originally Posted by LAfrequentflyer
.....the future is yours!.....
03-23-2007, 09:22 AM
#3
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Thread Starter
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It can be done. Just pay the minimum and you'll be A-OK!!!
-LAFF
-LAFF
03-23-2007, 09:38 AM
#4
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Joined APC: Feb 2007
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Posts: 992
Originally Posted by LAfrequentflyer
It can be done. Just pay the minimum and you'll be A-OK!!!
-LAFF
-LAFF
03-23-2007, 09:48 AM
#5
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Joined APC: Jul 2006
Posts: 1,857
Originally Posted by LAfrequentflyer
It can be done. Just pay the minimum and you'll be A-OK!!!
-LAFF
-LAFF
03-23-2007, 10:39 AM
#6
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Thread Starter
Joined APC: Jul 2005
Posts: 2,242
The reality is that senior captains at major airlines / SWA / UPS / etc are all willing to send their kids to ATP / Flight Safety / MESA so their kids can get ahead. Why shouldn't the average joe have the same opportunity?
Think about this...I had lunch with a retired 4 star. His son finished at ATP, went to Colgan , and is now interviewing with DAL and JB. 5 years ago his son was a 21 year old Georgetown senior now he's an airline captain about to make it to the majors.
-LAFF
Think about this...I had lunch with a retired 4 star. His son finished at ATP, went to Colgan , and is now interviewing with DAL and JB. 5 years ago his son was a 21 year old Georgetown senior now he's an airline captain about to make it to the majors.
-LAFF
03-23-2007, 11:01 AM
#7
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Posts: 116
Originally Posted by LAfrequentflyer
Think about this...I had lunch with a retired 4 star. His son finished at ATP, went to Colgan ...
Amortize 90K at 8.25% over a 10 year repayment period and the payments are $1103 per month. IF one had the ability to start repayment a month after drawing on the loan, interest over the life of the loan would be over $42,000.
You would expect to have a deferment period while you complete training, although interest continues to accrue so the $42K interest is probably on the low side.
Your "good deal" will end up costing more than $150K over the life of the loan. This path to an airline job is complete and utter financial insanity.
03-23-2007, 11:28 AM
#8
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Joined APC: Feb 2007
Position: Lav
Posts: 992
Originally Posted by LAfrequentflyer
...senior captains at major airlines / SWA / UPS / etc are all willing to send their kids to ATP / Flight Safety / MESA so their kids can get ahead. ....
-LAFF
-LAFF
Plus I've been paying double back each month on my loan all the while. I'm sorry but I have little respect for the guys who have everything handed to them.
03-23-2007, 12:18 PM
#9
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Joined APC: Jul 2005
Posts: 2,242
Originally Posted by Low & Slow
That's great although your side-stepping the gist of YOUR post.
Amortize 90K at 8.25% over a 10 year repayment period and the payments are $1103 per month. IF one had the ability to start repayment a month after drawing on the loan, interest over the life of the loan would be over $42,000.
You would expect to have a deferment period while you complete training, although interest continues to accrue so the $42K interest is probably on the low side.
Your "good deal" will end up costing more than $150K over the life of the loan. This path to an airline job is complete and utter financial insanity.
Amortize 90K at 8.25% over a 10 year repayment period and the payments are $1103 per month. IF one had the ability to start repayment a month after drawing on the loan, interest over the life of the loan would be over $42,000.
You would expect to have a deferment period while you complete training, although interest continues to accrue so the $42K interest is probably on the low side.
Your "good deal" will end up costing more than $150K over the life of the loan. This path to an airline job is complete and utter financial insanity.
My point is that a new college grad can and should consider aviation as a career choice. It can be done - education debt is an investment in ones future.
-LAFF
03-23-2007, 01:45 PM
#10
Super Moderator
Joined APC: Jun 2006
Posts: 3,945
Originally Posted by LAfrequentflyer
90K is the max Bank of America will lend you for flight training. At ATP you can get from 0 to Commercial ME for less than 60K. I haven't done number crunching (PPL+airline pilot program)...
My point is that a new college grad can and should consider aviation as a career choice. It can be done - education debt is an investment in ones future.
-LAFF
My point is that a new college grad can and should consider aviation as a career choice. It can be done - education debt is an investment in ones future.
-LAFF
Not sure what the point of this thread is...it almost appears as an add for ATP. Please get to the point of the thread.
This is not a free advertisement site. If you have an oppinion regarding ATP please make it, it just seems as if there has been a lot of post similiar to this in the past.
