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09-24-2007 | 10:10 AM

#21

kalyx522

Gets Weekends Off

Joined: May 2006

Posts: 849

Likes: 0

From: Student Pilot

Quote:

Originally Posted by el jefe

Serious question...

Any of the pilots on here start out flying for the regionals without any debt?

Not trying to be an (donkey) to everyone, just curious

I do know people, they are not all that rare. They usually have wealthy parents (docs, corporation vice presidents, legacy pilots for example).. well I even know one guy whose dad has been a lifelong regional dude. My own significiant other has no debt... his parents were frugal and saved up well for their sons' educations. Plus he spends money very, very responsibly (which I love!

) That said, most of the people I've met/flown/spoken with DO have debt, whether they got it from an aviation univeristy, regular college, or flight academy.

09-24-2007 | 02:27 PM

#22

usmc-sgt

Moderator

Joined: Jun 2006

Posts: 4,080

Likes: 42

Quote:

Originally Posted by el jefe

Serious question...

Any of the pilots on here start out flying for the regionals without any debt?

Not trying to be an (donkey) to everyone, just curious

Me

I am fortunate to have a very succesful wife who makes great money as well as a great stint with the Marines and some deployed time to bank money away.

Couple that with the fact that I drove a 1994 Ranger with 200k miles when I really wanted a new F150 and my flight training at an FBO which the VA paid 60 percent of and my wife are and have been debt free for over 3 years. We now just save our money and pay cash for our vehicles or any other large purchases and separate the needs from the wants. If you want info on saving money send me a pm or just ask, I think I have figured a few things out that have helped me

09-24-2007 | 05:15 PM

#23

ScaryKite

Gets Weekends Off

Joined: Mar 2007

Posts: 422

Likes: 0

From: Powered parachute, left seat

Quote:

Originally Posted by usmc-sgt

i got into the regionals with very minimal debt, my loan payment is under 70 dollars a month. THe key was work for your ratings instead of "financing" a dream. Your better off working full time and paying for your lessons as you go and maybe some minor assistance when it comes time for your commercial and multi check rides. I did all my ratings in just under two years and paid less than 30 grand. It can be done. I know others are out there. But if I had to put myself into more than 10 grand in debt for this job you can forget it. For what kids pay at riddle they could have nearly paid for medical school.
First year FO pay comes out to be around 1600 bucks a month. I know a UND grad whos monthly loan payment is 1300 dollars a month. Thats just plain insanity!

09-24-2007 | 07:20 PM

#24

cschmidt88

Line Holder

Joined: Aug 2007

Posts: 28

Likes: 0

From: Pilot

My favorite thing in the last month was the flight attendant who said, "I should have been a pilot... You guys only had a few more weeks of training (during newhire groundschool) and you get paid soo much more, and your job is sooo much cooler!".... she was serious... She honestly thought that being a pilot only took a few weeks longer of initial training...