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Thanks JB.....
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Revisiting this post with an update: after some thought, and not really all that much (it should’ve been obvious), I’ve decided to take on a huge loan to attend Republic’s LIFT Academy. Had a talk with one of the maintenance guys for Allegiant at my ramp gig the other day and he suggested that getting a 5-year contractual position with the airline following a three year training program was a great deal, no matter what the cost might be. He mentioned the fact that I would be getting hours that way too, another thing I failed to think about. I looked up some salaries for RPA and for mainline (for further down the road), and if my math is correct, that debt will be paid off no problem once I make the jump in for mainline. And, again, if my math is correct, I’ll be donating to charity at 35 because I won’t know what to do with a $180/flight hour wage at 75 hours per bid period…
Although that first two to three years at Republic as a FO might be a bit rocky for me and my soon to be wife, I think it’ll still be eons better than where we are now, and besides, like I implied before, I don’t think I’ll have too much to be concerned about in a few years… On another note: According to Zillow, with the amount of bank I’ll be making as an AAL 737 CA (if that is indeed where I end up in a decade or so), my wife and I will be able to afford a $750k-$900k home. Rather exciting, I might say. Haha :) Sent from my iPad using Tapatalk |
Originally Posted by TiredSoul
(Post 2676519)
That’s a $100,000 loan buddy.
That’s 8 years alone on paying the principle at $1000 month. I know it’s tempting but you’re going down the wrong rabbit hole here. Join the military, do your 4 years then use the VA bill for your flight training. You’ll be 32 and debt free when you hit the street. Or you’ll be flying for a Regional with a $80k debt remaining you can’t pay off. Can’t buy a decent car or a house either. |
Originally Posted by Theorganist92
(Post 2711897)
Revisiting this post with an update: after some thought, and not really all that much (it should’ve been obvious), I’ve decided to take on a huge loan to attend Republic’s LIFT Academy. Had a talk with one of the maintenance guys for Allegiant at my ramp gig the other day and he suggested that getting a 5-year contractual position with the airline following a three year training program was a great deal, no matter what the cost might be. He mentioned the fact that I would be getting hours that way too, another thing I failed to think about. I looked up some salaries for RPA and for mainline (for further down the road), and if my math is correct, that debt will be paid off no problem once I make the jump in for mainline. And, again, if my math is correct, I’ll be donating to charity at 35 because I won’t know what to do with a $180/flight hour wage at 75 hours per bid period…
Although that first two to three years at Republic as a FO might be a bit rocky for me and my soon to be wife, I think it’ll still be eons better than where we are now, and besides, like I implied before, I don’t think I’ll have too much to be concerned about in a few years… On another note: According to Zillow, with the amount of bank I’ll be making as an AAL 737 CA (if that is indeed where I end up in a decade or so), my wife and I will be able to afford a $750k-$900k home. Rather exciting, I might say. Haha :) Sent from my iPad using Tapatalk Sent from my LG-H931 using Tapatalk |
Originally Posted by Theorganist92
(Post 2711897)
Revisiting this post with an update: after some thought, and not really all that much (it should’ve been obvious), I’ve decided to take on a huge loan to attend Republic’s LIFT Academy. Had a talk with one of the maintenance guys for Allegiant at my ramp gig the other day and he suggested that getting a 5-year contractual position with the airline following a three year training program was a great deal, no matter what the cost might be. He mentioned the fact that I would be getting hours that way too, another thing I failed to think about. I looked up some salaries for RPA and for mainline (for further down the road), and if my math is correct, that debt will be paid off no problem once I make the jump in for mainline. And, again, if my math is correct, I’ll be donating to charity at 35 because I won’t know what to do with a $180/flight hour wage at 75 hours per bid period…
Although that first two to three years at Republic as a FO might be a bit rocky for me and my soon to be wife, I think it’ll still be eons better than where we are now, and besides, like I implied before, I don’t think I’ll have too much to be concerned about in a few years… On another note: According to Zillow, with the amount of bank I’ll be making as an AAL 737 CA (if that is indeed where I end up in a decade or so), my wife and I will be able to afford a $750k-$900k home. Rather exciting, I might say. Haha :) Sent from my iPad using Tapatalk I genuinely can’t tell if this is sarcasm or not?? Please tell me you put more thought into it than this. An Allegiant mechanic and back of a napkin financial planning? I was also accepted info LIFT however I turned it down once all of the details of the agreement came out. There is a good sized thread on the Republic section on here with all of the details. |
Pay the loan off as quickly as you can. Never make just the minimum payment. Any bonuses you get, pay raises, captains pay, etc. use to pay extra on the loan.
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