Loans
06-14-2006, 06:29 PM
#1
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Loans
When taking loans from a flight school. How much do you end up having to pay back over a period of time (extra)? What were your annual fees like from loan companies? Companies such as NelNet, Sally Mae etc... I would like to here your stories. (No stupid b.s. like what goes on in the other forums. Please. Real Talk!) We're talking about a loan for around $30-35 K
Last edited by Golden Flyer; 06-14-2006 at 06:46 PM.
06-15-2006, 10:13 AM
#6
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Joined APC: Jul 2005
Posts: 2,242
How does the VA pay 60%?
Most schools adjust their rates to charge military guys/gals with VA benefits to squeeze more cash from them...Sad but true...
100K for flight training...I can't imagine. 50K is my max - paid in full or 25% financed.
-LAFF
Most schools adjust their rates to charge military guys/gals with VA benefits to squeeze more cash from them...Sad but true...
100K for flight training...I can't imagine. 50K is my max - paid in full or 25% financed.
-LAFF
06-15-2006, 12:57 PM
#7
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Joined APC: Jun 2006
Posts: 903
Originally Posted by LAfrequentflyer
How does the VA pay 60%?
Most schools adjust their rates to charge military guys/gals with VA benefits to squeeze more cash from them...Sad but true...
100K for flight training...I can't imagine. 50K is my max - paid in full or 25% financed.
-LAFF
Most schools adjust their rates to charge military guys/gals with VA benefits to squeeze more cash from them...Sad but true...
100K for flight training...I can't imagine. 50K is my max - paid in full or 25% financed.
-LAFF
The school has to FAR 141 though, and you have to have your PPL. Pretty much, it'll pay for 60% of each advanced rating AFTER PPL.
Last edited by surreal1221; 06-15-2006 at 01:06 PM.
06-15-2006, 01:34 PM
#8
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Joined APC: Feb 2005
Position: B777
Posts: 5,853
Originally Posted by Golden Flyer
I think interest rate should be in the 7% margin
06-15-2006, 05:21 PM
#9
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Joined APC: Jan 2006
Position: Spartan
Posts: 3,652
Originally Posted by surreal1221
GI Benefits (GI Bill to be exact). . . check the VA's website and you shall see. Or better yet, call the VA and ask to speak to a benefits associate.
The school has to FAR 141 though, and you have to have your PPL. Pretty much, it'll pay for 60% of each advanced rating AFTER PPL.
The school has to FAR 141 though, and you have to have your PPL. Pretty much, it'll pay for 60% of each advanced rating AFTER PPL.
06-15-2006, 05:39 PM
#10
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Originally Posted by HSLD
Are you saying that you need help figuring principle and interest on the term of a consumer loan? As slice mentioned, do a search on "Loan Calculators". Also, 7% for a flight school loan is highly doubtful - have you checked the prime rate lately? My guess is you'll be lucky to find a loan product under 12% for flight training.
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