Key Alternative Loan & Bankruptcy?
#21
New Hire
Thread Starter
Joined APC: May 2006
Position: CRJ Captain
Posts: 6
Originally Posted by LAfrequentflyer
Rj,
please answer the question Skyhigh asked earlier...Why did you take a 100K loan to fly?
-LAFF
please answer the question Skyhigh asked earlier...Why did you take a 100K loan to fly?
-LAFF
Why doesn't so much matter now. I did what I did and I don't regret it. It's unfortuante that airline pay is so miserable. And it's unfortunate that it's tough to earn a great living as an airline pilot. I flew bizjets (typed) for a few years and that pay sucked too. But flying an airplane beats flying a desk. I did what I thought was best at the time.
#22
Why
Originally Posted by RJGirl
Why doesn't so much matter now. I did what I did and I don't regret it. It's unfortuante that airline pay is so miserable. And it's unfortunate that it's tough to earn a great living as an airline pilot. I flew bizjets (typed) for a few years and that pay sucked too. But flying an airplane beats flying a desk. I did what I thought was best at the time.
Well if you could kindly explain the thought process you went through then perhaps we could save a few others from making the same choice.
My next question is do you plan to stick with it? If so then what are your reasons? If flying doesnt pay well now what do you think will change the future?
Why do pilots always assume that the alternative is a desk? There are a lot of great high paying careers that don't involve an office.
Personally it seems to me that people choose flying in an attempt to avoid getting a real job and end up working harder and longer for much less pay.
SKyHigh
#24
Gets Weekends Off
Joined APC: Jan 2006
Posts: 408
No regrets, huh? Even in the face of financial ruin and bankruptcy? Ah, denial. 'Tis a powerful thing. A lot of people seem to give that ridiculous "airplane vs desk job" comparison more importance than "stable financial life vs wreck and worry." Yeah, it's tough to earn a "great" living, but never mind that. It's tough enough to earn a living.
#25
Money is a tool...If you don't use it properly it will hurt you...Learn the tool and the tool will do the work for you...Aviation isn't the only place that causes financial problems...If you like the job and it works for you, stick with it...But NO job will help you if your not smart with money...So get smart and don't listen to anyone...and I mean anyone who wants to "Give" you money without knowing all the terms...Even lottery winners go broke!...Good luck.
#27
Are you serious or flippant about 'no regrets'?
How can you have no regrets about having ruined your life? Young lady, you need to get help if you think you have a fair wind and smooth sailing ahead of you with that attitude. Change is difficult - but you have to acknowledge your problem before you can start...
-LAFF
-LAFF
#28
Gets Weekends Off
Joined APC: May 2006
Posts: 187
I'll tell you why I took out the 100G's for school...I was extreramly niave. All I knew was what I was told. Embry-Riddle...1/4 of all airline pilots come from ERAU...Airline pilots make a lot of money....It will be easy to pay back the loan at those salaries. I didn't find out how much pilots made untill i was a sophomore in High School. My HS guidance councelor showed me the pay scales. I was amazed that i could have a job that i'd love and make a lot of money...I wish there were people out there to tell me not to go to ERAU, not to pay a lot of money, to realize that i'd make 20-30K for a long time. I had a dream of becoming a pilot, Embry-Riddle claimed to be the best in the world, and I worked hard to get myself to Embry-Riddle thinking it would give me the tools to become as good as I could be in a field of work that I loved. I think the majority of people pay that much money because they don't realize that you can do it for a quarter of the price and still be just as qualified as the ERAU grad.
Last edited by rightseater; 06-10-2006 at 09:33 PM.
#29
Originally Posted by SkyHigh
Now you are going to put the family home at risk as well !! What ever happened to paying your way through? It wasn't but a few years ago and everyone had to do it that way. Financing a dream is always a bad idea. I think that financing is why we have so many pilots today, with the click of a pen you can obligate yourself to decades of debt and become married to a dead end career.
SKyHigh
SKyHigh
And what do you mean....pay my way? You think I'm not going to take advantage of rolling the principle into a mortage loan that overall is at a lower interest rate?
atp
Last edited by atpwannabe; 06-10-2006 at 10:10 AM.
#30
Best Laid Plans
Originally Posted by atpwannabe
No! When I do buy a home, I don't plan on paying no more than 160K to 200K for a brand new constructed home plus the land. Check out www.newhomes.com.
And what do you mean....pay my way? You think I'm not going to take advantage of rolling the principle into a mortage loan that overall is at a lower interest rate?
atp
And what do you mean....pay my way? You think I'm not going to take advantage of rolling the principle into a mortage loan that overall is at a lower interest rate?
atp
SkyHigh
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