New MGI
06-23-2008 | 03:39 PM
#1
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Gets Weekends Off
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New MGI
I know it's probably too soon to ask the college offices but has anyone asked how the new MGI Bill will affect Part 141 flight training? Being that it has more than doubled I'm curious if it will cover all of the pilot certifications (except private) while before it only covered roughly 25K.
06-23-2008 | 08:28 PM
#2
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From: Engines Turn or People Swim
Probably not going to change much for most folks...
Unless they changed the aviation-specific language (doubtful) it is still probably limited to 60% of most post-PPL expenses.
What has changed is the max dollar amount...with flight training you cannot exceed the max payout you would get if you were enrolled full time in college for 36 months. Unless you found a REALLY expensive 141 program it would be hard for 60% of your training costs to exceed the 36 month college amount even at current funding levels.
What the increase will do for pilots is to leave more money left over AFTER you initial ratings to get additional training such as type ratings.
The problem is that types are expensive, even after 60% is covered and they may not provide a return on investment unless you already have a job offer dependent on your getting typed (ie SWA). If you were going to buy a type just because you can, I'd get a cessna citation if you're entry level, or a 737 if you might be competetive for SWA in the forseeable future. Both types are relatively cheap.
Unless they changed the aviation-specific language (doubtful) it is still probably limited to 60% of most post-PPL expenses.
What has changed is the max dollar amount...with flight training you cannot exceed the max payout you would get if you were enrolled full time in college for 36 months. Unless you found a REALLY expensive 141 program it would be hard for 60% of your training costs to exceed the 36 month college amount even at current funding levels.
What the increase will do for pilots is to leave more money left over AFTER you initial ratings to get additional training such as type ratings.
The problem is that types are expensive, even after 60% is covered and they may not provide a return on investment unless you already have a job offer dependent on your getting typed (ie SWA). If you were going to buy a type just because you can, I'd get a cessna citation if you're entry level, or a 737 if you might be competetive for SWA in the forseeable future. Both types are relatively cheap.
