Flight school money
#1
On Reserve
Thread Starter
Joined APC: Jun 2013
Position: Operations supervisor
Posts: 17
Flight school money
My question to everyone is how did most of you pay for your flight training? I have been searching for financing but there doesn’t seem to be many options. I am looking for a few places to try to secure loans for flight training if anyone has had any luck with this.
#3
Gets Weekends Off
Joined APC: Sep 2008
Position: B767
Posts: 1,899
I paid cash. It took me several years this way, but I think it was worth it. Having no debt in this industry (especially starting out) is key.
#4
On Reserve
Thread Starter
Joined APC: Jun 2013
Position: Operations supervisor
Posts: 17
I have seen that website but haven’t done much research about it. I am not too concerned about taking on debt right now. My fulltime job will allow me to repay it back. Getting my PPL and then my CFI is why I would not like to drag it out too long. The sooner I can get into teaching and building hours is the better. I am not in a rush to get into the left seat, but in a hurry to get onto the right side and start my career.
#5
You need to get in ROTC or serve in the military first and use the GI Bill, this is one of the ways that the big pilot schools inflate their numbers, because many of their graduates do this, but they don't tell you a lot of the people going there don't have the same financial concerns as everyone else, then you add the ones that can have mom and dad pay for it, and all of a sudden it's not what it seems from the outside, hence why it's so hard to get financing.
Soooooo, you find something you like doing that pays well, heck, working for beverage distribution paid well for me, and you earn your certificates on the side as you go. Live as you would as a student, save your $$$, get the 10K and get your private, then get 5K and get your commercial, then get your multi for a few thousand more, and so on. If you do this, you'll be far ahead of most anyone else, and yes, maybe a few years behind the guy that has mommy and daddy pay for it, but nothing you will ever do will allow you to keep up with them early in life, and the military guys already spent several years doing something else. Slow down and get a good job, screw being a commercial pilot, get your certs and ratings over a few years, then reassess and get into commercial aviation if that's what you want.
#6
The value of that is simply staggering. It's almost impossible to understand before you amass a bunch of debt and look back. You are truly ahead of so many people, even if they got their certs 2 years faster.
#9
Bracing for Fallacies
Joined APC: Jul 2007
Position: In favor of good things, not in favor of bad things
Posts: 3,543
You obviously don't have to do all those things, your life is yours---but I did finish everything through CFI, II, MEI and four year degree with money in the bank and an IRA. The trade off was years of my life earning the money to get my education.
#10
On Reserve
Thread Starter
Joined APC: Jun 2013
Position: Operations supervisor
Posts: 17
I plan on paying for most out of pocket. But will need some extra money up front to get things going. I do not intend on taking on a ton of loans just to rush to something that is not guaranteed. I greatly appreciate everyone’s insight. It has allowed me to really think about the big picture as well
Thread
Thread Starter
Forum
Replies
Last Post