Pilot training financing
11-20-2018, 07:18 PM
#32
New Hire
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Joined APC: Jul 2017
Posts: 9
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
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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
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11-20-2018, 08:49 PM
#33
Line Holder
Joined APC: Feb 2014
Position: Paper Airplane PIC
Posts: 30
Originally Posted by TiredSoul
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.
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.
11-20-2018, 10:06 PM
#34
Gets Weekends Off
Joined APC: Feb 2017
Posts: 120
Originally Posted by Theorganist92
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
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
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11-20-2018, 10:30 PM
#35
Gets Weekends Off
Joined APC: Aug 2013
Posts: 445
Originally Posted by Theorganist92
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
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.
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