Get the degree but don't think your phone is going to ring just because you have it.

 

Or don't get the degree and the phone will simply never ring.

 

The majors have plenty of applicants with degrees. That makes not having one the easiest way for your application to find the round file.

 

Curious about what I bolded, is there something shameful about paying for your kid's education? That must be "admitted?"

I'm not a rich airline pilot [though I hope to be] but I saved regularly from my military paycheck starting when my kids were born. 18 years of compounding interest is a wonderful thing. Regardless if DL makes me rich or not, should be able to put kids through state school without debt.

I know it is difficult to get through college without debt or parents...but there are service academies and a huge amount of ROTC scholarships available.

 

Yeah, I was kind of wondering about that. What is shameful about paying for your kid's college? I am very happy that my kids were able to graduate from excellent colleges, with zero debt. I feel fortunate that we were able to do that for them, and think our money was well spent.

My spouse went to a service academy---zero debt. I went through ROTC, also zero debt. Those options are out there, and if not, it is still possible to go to community college, take online courses, test out of classes, and finish up at a public 4 year university for a reasonable cost. We wanted our kids to go to college ASAP, because it's a painless, natural progression to do it after high school. If you delay, it can take forever (my sister was 40 before she got her degree). Much tougher to do it while working a full time job and raising a family.

 

If someone accumulates that much debt for anything other than being a Doctor, they're either an idiot, lazy or both.

I see guys breaking their back to fund their kids college. I'm all for helping the kiddos pay for school and if you can easily do it, have at it. However, to do it at the detriment of your own financial future (or marriage) isn't the smartest idea. Sure, help out where you can, but not at the expense of working your life away.

I managed to graduate college with a bachelors and up through my CFII with less than < $5,000 in debt. Here is the link the voodoo magic that made it possible. www.goang.com. Joining was easily the best decision of my life. They paid for most of my schooling and I had the time of my life. They even let me fly their jets now (which helped me get to the legacies faster than my peers). Aside from the Guard, I worked two jobs to help pay off what they didn't pick up.

Get the degree or don't, no skin off my back. However, don't be surprised when all your buddies are getting hired and you're not. As noted in a post already, waiting to get the degree cost him 10 years of seniority, he sure showed them...

 

To the OP, get your degree. I would put at approximately 0.00% the probability that you will ever look back and think "gee I wish I hadn't gotten that degree."

It's awesome you are debt free and I'd do everything possible to remain that way. That said, 25k for a B.A/B.S is a reasonable load I think.

The "online" thing makes me nervous. Make sure you are getting a degree from a regionally accredited school. There are fantastic online programs out there, there are also the Trump Universities as well

 

At the end of a day, a 4 year degree is a 4 year degree, regardless if it's from State, or City Colleges at a fraction of the cost of a private institution. Many colleagues at the legacies have chosen the cheaper route. They're skippers and many have advanced degrees in business, law, accounting.

That said one does not have to take on a $250,000 loan.

The important goal is be to obtain the degree. Have an alternate plan should the airlines push the RED button when the furloughs commence.

 

To put some perspective on the 'furloughs in 3-5' years -
AA retirement percentage for 2017+
3,4,5,6,7,7,8.

Not hiring for one year has the same manning impact of furloughing 600 guys in 2019 and increasing to 1000 pilots in 2023.

The risk of furlough might be at the lowest risk level ever.

And if an event that had a similar impact on manning were to occur as 9/11 did in four years the retirements would require all furloughees to be recalled. In three years time the retirement demand would recall every one in just over three years. In 2020 the recalls would take less than three years.

 

Get it done, just got mine finished a couple days ago, feels good to get that weight off my shoulders.