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Old 07-23-2016, 12:12 PM   #1  
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All I got to say is, which is the most efficient way in terms of cost and time to do flight training while in college so I won't have debt on the flight training side since Everyone here says the worst thing ever is debt. Is it even possible to finish flight training without debt? And I'm not aiming for the military route. I was planning to do weekend courses at MIAMI FLIGHT CENTER LLC since I have to have a job also, and just pay it off by AOPA flight training financing or pay as it go idk. Do u guys have any suggestions ??? Thanks

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Old 07-23-2016, 02:12 PM   #2  
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The sooner you get your licenses and ratings the sooner you can start getting paid to fly. Instead of getting 100-250 hrs a year learning you'll suddenly be logging 500-1000 hrs a year. Spend the money to ACCELERATE your career. If you spend $50,000 in one year it might gain you an additional year at the end of your career. That's worth $200,000 to $400,000 as well as more money every year when you're at a major airline since you might be hired several months, or years, sooner.

Sometimes debt makes sense.
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Old 07-23-2016, 03:11 PM   #3  
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You will probably need to go in to debt, the question is what kind of rates can your get on those loans. There needs to be a % cutoff point where you say, "no thanks".
The people that are crushed by crippling debt, didn't say "no thanks.
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Old 07-23-2016, 09:46 PM   #4  
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Quote:
Originally Posted by Sliceback View Post
The sooner you get your licenses and ratings the sooner you can start getting paid to fly. Instead of getting 100-250 hrs a year learning you'll suddenly be logging 500-1000 hrs a year. Spend the money to ACCELERATE your career. If you spend $50,000 in one year it might gain you an additional year at the end of your career. That's worth $200,000 to $400,000 as well as more money every year when you're at a major airline since you might be hired several months, or years, sooner.

Sometimes debt makes sense.
I never went into debt for a aviation career and wouldn't advise a younger person to do so. If you go into debt for a career make sure its in a field where you can make some money in the short term to pay it off. The law and medical fields have debt and there's many options to go beside a lawyer or doctor. Aviation does not have that type of diversity!
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Old 07-24-2016, 03:55 AM   #5  
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Without going into debt how long will it take the average person to come up with $50,000 to get their ratings?

The airline business is about being hired first. Being better or smarter still goes behind the guy hired ahead of you. If debt helps you advance your date of hire it's money well spent.

Last edited by Sliceback; 07-24-2016 at 04:37 AM. Reason: Typo
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Old 07-24-2016, 08:08 AM   #6  
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Originally Posted by Sliceback View Post
The sooner you get your licenses and ratings the sooner you can start getting paid to fly. Instead of getting 100-250 hrs a year learning you'll suddenly be logging 500-1000 hrs a year. Spend the money to ACCELERATE your career. If you spend $50,000 in one year it might gain you an additional year at the end of your career. That's worth $200,000 to $400,000 as well as more money every year when you're at a major airline since you might be hired several months, or years, sooner.

Sometimes debt makes sense.
Whether or not this is good advice depends on the hiring conditions...you DO NOT want to get stuck as a regional FO with big loan payments. I saw that play out for years between 2001 and about 2012. People's entire lives revolved around servicing their debt. One young lady I knew resorted to stripping (and then some) on her days off.

That said, the current hiring climate would probably justify taking on debt as sliceback described. But take into account the interest paid over the length of the loan. If it's a $50K loan but will cost $100K in interest over 30 years then it's a pretty weak justification to incur that risk just to make $200K at age 64.

I would say balance the length of the delay vs. the cost of the loan. I wouldn't incur a multi-year delay right now to avoid a reasonable debt load.
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Old 07-24-2016, 09:16 AM   #7  
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Originally Posted by Sliceback View Post
Without going into debt how long will it take the average person to come up with $50,000 to get their ratings?

The airline business is about being hired first. Being better or smarter still goes behind the guy hired ahead of you. If debt helps you advance your date of hire it's money well spent.

Exactly, how is not falling debt even possible when all the ratings added together are around 45k, and I'm just a kid in high school heading to college without a job. That's where the the ATP 6 month training comes into hand, i know they are expensive but right after I finish high I can go with them and after I finish that justhead to college and be a CFI at the same time while building my hours, getting an accounting degree for ex, and paying the debt from the ratings.

Idk the only bad thing is that they say ATP is ton of money
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Old 07-24-2016, 09:17 AM   #8  
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I never went into debt for a aviation career and wouldn't advise a younger person to do so. If you go into debt for a career make sure its in a field where you can make some money in the short term to pay it off. The law and medical fields have debt and there's many options to go beside a lawyer or doctor. Aviation does not have that type of diversity!

That's true but,
What do you do to not be in debt?
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Old 07-24-2016, 10:01 AM   #9  
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It is a risk, as all investments are.

Risks include:

- loss of medical
- regulatory changes which affect supply (retirement age, cabotage, 1500 hr rule, etc)
- economic downturn
- etc



Yes, the investment makes sense in the current enviroment, even with debt, but just make sure you understand the risks.
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Old 07-24-2016, 10:29 AM   #10  
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It is a risk, as all investments are.

Risks include:

- loss of medical
- regulatory changes which affect supply (retirement age, cabotage, 1500 hr rule, etc)
- economic downturn
- etc



Yes, the investment makes sense in the current enviroment, even with debt, but just make sure you understand the risks.

Yea there's always a negative as you can see, but do u think that idea is good? ^^ the one i mentioned earlier
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