Never mind..

Hey
 

Hey Brian that's mean. Take it back. :)

Are you suggesting that the public good support what essentially is a personal choice and self destructive hobby? Are you saying that teachers and nurses do not provide a commonly accepted benefit to society?

This career is harsh and does not hold much sympathy to the fallen. Better pilots brace themselves for the truth.

Skyhigh

THIS ^^^^^^^ No ******! Well written opinion Brian! It amazes me how so many of us forget this and dont realign the perspective when it comes down to bailout of individuals. The goal posts (for me anyway) were continuously moved back starting with 9/11 and then the financial meltdown of 08. Still blows me away how we as pilots cant see other perspectives. Disagree with me all you want.

I think some of the difference might be that Airlines are for profit corporations, although mass transportation is obviously in the best interest of the nation.

The probable reason most of us don't support an individual bail out are that most of us had higher expectations for our careers when we entered the profession ten+ years ago. We all had the "goal posts" moved and still paid our debts that we signed for. We all made sacrifices in order to fulfill those obligations, and I don't see why other people should get a pass on that.

Also, you assume that we all supported the government bailouts of various industries. Which in my case is incorrect and I would guess the majority of pilots feel the same way.

Wow! I obviously don't reply much on these forums, but this is insane. Why not forgive a pilot's mortgage loans, car loans, credit card debt? Why do student loans fall into some special category? Why force others to pay for your bad decision?
Why not learn from your decision, put your big boy britches on, and honor YOUR debt? In the long run you will be better for it, and hopefully avoid unwise financial decisions in the future.
I agree with the original post, school loans stink. Unfortunately they are so prevalent that many college-bound people don't think about the consequences. It is unlikely, but hopefully we start to move away from this buy now, pay later mindset and get some sense.

All debt sucks, but I feel student loans are a good tool when used responsibly. Unfortunately with the rate that tuition increased in the past 15 years it really has become the only way that many people could attend college. They are far cheaper than credit cards and the interest is tax deductible. They also have very flexible repayment plans when compared to other financing options.

Responsible use would not be going $60k+ in debt for an career field that doesn't support the payments.

I think everyone should be able to have everything they want and that someone else should have to pay for it.

That's what I think.

"I think that if the taxpayers can bail out the banks, insurance companies and car manufactures, the least they can do is [fill in the blank]."<---Get used to it. This expression will be with us for a long, long time.

Just don't pay it. It has worked well for me.

My loans quickly got out of control because I was an idiot at the age of 19 when I signed them. My first year at the regional I owed over $200,000.

It started as a $65,000 loan. While instructing for 3 years I couldn't make any payments so they gave me penalties and my interest rates went way up. By the time I finally got to a regional it was out of control and I would owe more a month than what I was making.

I would of picked a different profession if I knew this one payed so little. My credit suffered for years but it has gotten better. Somehow the loans just disappeared and don't even show up on my credit report anymore. I'm sure the tax payer somehow payed for my training because I never did.

Usually not the tax payer but the consumer with higher costs etc.. but who knows with all the bank bailouts etc.. obviously you didn't have an educational loan as those are not dischargable.

Airlines file bankruptcy all the time like its written into their business plan :), in fact I'm convinced that bankruptcy is in their 5-10 year long term planning to shed debt, contracts, etc.. In a way they are now too big to fail just like the banks and auto companies. This is one of the dangers of less competition.

The children are the ones who don't want to honor their commitment to a financial institution they made an agreement with.

Why did you take a $65,000 loan, with I am assuming limited to no income in the first place? I know 19 is young and we all make bad decisions, but why the flippant attitude now? You entered into a legal contract, defaulted, and now apparently have no regrets.

Don't blame the career path, you didn't sign the loan contingent on "proper career progression". You signed for funds to pay for education expenses. They lived up to their end, and you should do the same. I understand that personal responsibility is on a rapid decline, but why the seemingly proud attitude on how you "got away with it"? I am glad it worked out for you.

Right. When the government stops taking, I'll stop *****ing. Where should we begin on the government "taking" part? The top dog, 17 Trillion in U.S. debt when we can supposedly print our own money. Now, I ask the more enlightened of you out there, why would we BORROW money/incur debt when we can PRINT OUR OWN MONEY. Oh, that's right, the traitorous Federal Reserve does that with interest! I guess we can't print OUR OWN money after all and the U.S. Constitution certainly doesn't address that statement, does it?:confused: Every dollar printed with interest incurs debt, why oh why do we put up with this Federal Reserve scam? Enlighten me oh sage one's.

Do you own a house? I have seen mortgages denied for unpaid parking tickets. I find it hard to believe you will ever approved for any sort or home loan.

He already got one of those "mortgages" in 2008. He was 27 when he bought the place so he had no idea what was going on, turns out houses are expensive and he stopped paying. Eventually the sheriff showed up and asked him to leave. Like ***? After declaring bankruptcy, he got this so called "credit card".. maybe you've heard of it...he maxed it out. Turns out the payments became more than he could pay so he stopped...............

I find this hard to believe, student loans (or any loan really) don't just disappear.

Actually, with certain types of loans and in certain juristictions, there is a statute of limitations and if you know how the collections process works, one can eventually make it disappear. At what cost is what one must ask himself. Surely your credit is abhorent during this window, but in some instances, it will disappear.

One person gets it.

I am not proud of a very uneducated risk I took when I was 19. If it was a local bank it would be a different story. But the loan I took out should of been illegal really. I tried to pay them something little every paycheck but they were not working with me at all. It was like throwing money away trying to pay them. This was one of the key bank loans.

Yes my credit suffered short term but has gotten much better over the last 5 years. I do own a house. I had to put down a larger amount than most people. I am also married and my wife has had excellent credit when mine has suffered. Both our names are on our house.

They are not gone but they are paid. Somewhere down the line in the last ten years of not paying them the balance owed on them is zero. I never did any investigating on why this is the case. I know the loans were sold to multiple different companies. In fact if I had to pay them, I wouldn't even know who to pay now.

I certainly hope you have someone else proof read your resume. It should also be noted that credit reports are viewed by HR departments.

Only government loans (not private lender). And only if you're below the poverty level 20 yrs later. Which is $11,670 for a family of one. $19790 for a family of three. I took my first loan in 1991. Yeah, they're still here. Like a roommate. A bad roommate.
Never took private lender loans which often have usury interest rates. As income has fluctuated over the years I was allowed to defer or use forbearance but the interest accrued. The private lender loans get people in trouble - fees, penalties, etc.

A big chunk of the student debt at Colleges goes to worthless Athletic programs, to pay for some guy's scholarship to play with a ball, everyone knowing that he will go to a professional sports team at the first chance. Who's paying for that guy, it isn't the athletic department. It makes me angry to see a Delta A330 fly into somewhere with a football team knowing that the rest of the students are paying for that charter.

You need to do some studying on how much a college football program makes in TV, sponsors, ticket sales, boosters... Someone paying tuition does not pay for the football team's expenses. The football team can make enough money to carry all the other sports, like baseball, Olympic sports etc

No true he or she is probably ****ed you want us the tax payers to pay for it.

Actually most college athletic departments do not even break even.
Most NCAA Division I athletic departments take subsidies

Yet you probably work for an airline that has filed or will file for bankruptcy and still you don't resign in protest. An airline like American files for bankruptcy and it's executives that got it there make millions. Thousands of pilots flood American with applications to work for the bankrupt airline and nobody blinks. Some broke sap rj pilot contemplates doing the same thing your bankrupt fantasy airline does, and all you internet super heroes crawl out of the woodwork to scold him. IF you feel that strongly about paying all of your debts no matter what, I say resign from your airline. You lack the courage of your convictions.

What he said. You know, the guy up there.

Double standards. And lack of accountability. America. And Americans.

Most children would be smart enough to figure out something you apparently cannot: basic math and economics!

Neither can your employer. You should quit. You don't want to work for people who don't understand basic economics.

I bet guys like you either have or would be willing to felatiate recruiters for bankrupt airlines. I bet you tripped over yourself to send your resume in as fast as you could to places like United, Delta, US Air and American. They all went bankrupt, so I bet you want nothing to do with them right?

Places like Key Bank and Sallie Mae are irresponsible at best and predatory at worst. They know the financial prospects for a would be airline pilot, yet they handed out $100,000 loans anyway. They wouldn't give those loans out if they hadn't paid off politicians to make bankrupting their loans next to impossible.

If a guy who had a GED and bagged groceries at the Piggly Wiggly walked into a bank and asked for a $100,000 loan to finance a project to build a spaceship, that bank would negligent if they gave the poor sap the money knowing he could never pay it back. Student loans have turned people into slaves. We all make financial mistakes. Individuals are being denied the ability to ease their burdens while our corporate masters have integrated bankruptcy into their business plans.

Obama is going to double the student loan interest. From 6% to 12%.

No joke.

Actually they do understand economics quite well.

True, I did send resumes to three of the four airlines you mentioned, but that was a long time ago before any of them entered bankruptcy protection.

We have something we both can agree on - they all went bankrupt and I want nothing to do with them. In fact, I am quite content flying boxes in the middle of the night for $200K (2013 W-2) as a first officer.

First of all, nobody "hands out" loans. If they did they would be entitlements and not loans. Second, loans are given based on a signed contract in which the applicant voluntarily applies for it and agrees by signing his or her signature to the paperwork. Third, do not forget that the applicant also knows the financial prospect for a would be airline pilot.

Uh, no. People accepting these loans have done that voluntarily on their own.

+1

Pete,

Congrats on getting out of debt and thank you for being a voice of reason on this thread.

fiiiilller

Yes, I fly Citationts for an airline.

Wrong again oh smart one. I have never, nor will I ever apply for any of the airlines you have mentioned. And the company that currently employs me has never filed for bankruptcy. What other crap do you want to try and fling my way, or what other words do you want to try and put in my mouth oh master of awesomeness?

Over $200,000.00 in student loans, and oblivious to proper spelling of the word "paid"(not payed) that my 6 year old knows? Sad....

..........

What a wonderful person you are. I may disagree all day long with you, but I would never wish you a slow death or want to **** on your grave. You are what's wrong with the human race if that's how you truly feel. Have a nice night.