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Flight Training

Old 05-11-2014, 09:47 AM
  #1  
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Hello,
I'm currently studying at Lewis University, I'm planing to get my degree and Transportation Administation, but on top of that I started working on my Rating I'm currently almost done with my PPL.
My question is what do you guys suggest on doing?
Should I concentrate on finishing of my degree then focus on getting my rating or should do it in reverse? I just finished off my first year.
I would be continuing that, but it cost me around 40,000$ per year and I just don't have that much money to spend due to the reason I'm a first generation in USA and my parents cant support me with school.
I am considering taking a loan and doing those 1 year programs with ATP or Aerosol Academy.
I would like to find out what you guys think
Any type of advice will be highly appreciated
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Old 05-11-2014, 10:32 AM
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Do you have the option of doing both, as money permits? You're going to need your degree once you are ready to enter the airline world, and you run the risk of delaying it for too long or not getting it in time with other requirements you'll need. I think if you are in no rush to start working as a pilot, get the degree first...and if it's in a career that will give you a livable income, you can continue training when you earn that income. I don't know what the programs at the academies are like these days, and how long it can take to get the hours you'll need to work at a regional, but believe me the pay will be dismal as you work your way up! You will have spent all the money on training, hopefully not be into loans and then you will be wondering how you will pay for a degree and still pay your living expenses.

The only advantage loans give you is that you have the money available to get flight training out of the way sooner...but again, if you use the loan for flight training, think of how difficult your life is going to be paying loans for decades, while working your way up in aviation earning peanuts until you get some kind of break at a job which pays decent. Your future happiness will ride big time on the loan decision, so make sure you use it for the path that will bring you decent income when you've used up all the money (college degree most likely).

The best idea, which is what I wish I could travel back in time and do is to continue with college, part time if that's what it takes, and work your butt off to pay for training as you go, avoiding debt!

I did it backwards, got hefty loans and spent it all on flight training. Went through a couple of years as an instructor while starting to repay those loans. Now, I've got the hours to start applying at places that pay decent, but no degree, because I didn't think I could afford to pay for it as I was earning experience (not to mention when you're flying the line, you have less time unless you do online schooling). So 5 years in and now maybe, just maybe I can start taking classes part time. Those loans are a ball-and-chain that will weigh you down immensely, unless you are making decent money to afford a life while repaying thm.

Do your research, get an idea of what your college degree MAY help you earn when you're done and get the real picture of what being a low time pilot WILL earn you...then decide for yourself which is smarter for your pockets and for your financial future. Being a low time pilot is very tough, nobody wants you, and the regionals will always be hiring, but they won't pay.

On the flip side, let me tell you about a student I had who was very good and wise about his money...Went to college, got his degree by working his way through it...came to me to train after college and with his good paying career paid for his training, then joined a regional and got the experience (before 1500 hrs were required), now I'm sure he's ready to move on again. Meanwhile, I was flying before I started teaching him, trained him, saw him get farther ahead than I have in less time because I'm the one with debt to pay off; and the jobs don't pay well. Oh, and I still don't have a degree. Sure he took low paying pilot jobs but he is happy at it because he's got another career that he knows will pay the bills, and he stayed out of debt.

Ask yourself what's more important, starting a flying career, or having a career that gives you a living and will bring you happiness because you can actually afford to live. This time is critical to your financial future and happiness.

Oh, and don't focus only on Part 141 schools/academies...Part 61 schools are much cheaper and if you find one that has good instructors, you'll save a ton of money! Getting things done in one year versus 2 sounds great, but a again, those loans aren't going to be in deferment forever.

Also, stay single, don't have kids, don't marry, live cheap, work work work and save, and don't spend too much at the bars, think of how you could use that money to buy an hour of training
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Old 05-11-2014, 03:17 PM
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Thanks a lot, this information is very helpful to me, from the beginning when I got here I wonted to go for a Pilot but the more I learn about it, it get worse from what it seems the money plays a big factor in the Pilot training. So from what you suggest the wise option is to get my degree and then get a decent payed job and money I earn put it towards my flight training it will take much longer but like you said this might pay off just simply from not being worried about how to pay my bills.
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