LIFT: RPA commitment for training?
07-29-2018 | 09:29 PM
#101
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Joined: Jan 2007
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This is why many people can not become pilots (and shouldn’t). Jobs in the industry don't pay enough to allow this kind of payment. I would be curious what they are planning for offering as a CFI wage. I bet its comical compared to the amount of debt that will be taken on to get there.
07-30-2018 | 04:10 AM
#102
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Typically the Academies pay their CFIs much less then what you would make elsewhere. They don't need to do much recruitment since they can farm their own students. Also it is human nature to stay where you are comfortable instead of having to apply and interview elsewhere, even if you would make more pay. They know this and take full advantage.
07-30-2018 | 05:04 PM
#103
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Joined: Jun 2018
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Just curious, what lending institution are they using?
Taken directly from the Financing Application page...
LOAN RATES AND FEES
There is a 2.00% loan origination fee for each funding disbursement which will be added to the loan amount.
The interest rate is a variable loan rate of 7.57% over the 3-month LIBOR adjusted quarterly.
Current LIBOR is 2.33%, so I guess this makes the financing 9.9% at todays rates. Spread over the 10 year maximum term that would make you pay back $103k on your $65k loan @ $850 per month. Doesnt seem such a good deal now...
LOAN RATES AND FEES
There is a 2.00% loan origination fee for each funding disbursement which will be added to the loan amount.
The interest rate is a variable loan rate of 7.57% over the 3-month LIBOR adjusted quarterly.
Current LIBOR is 2.33%, so I guess this makes the financing 9.9% at todays rates. Spread over the 10 year maximum term that would make you pay back $103k on your $65k loan @ $850 per month. Doesnt seem such a good deal now...
07-31-2018 | 02:46 PM
#105
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Joined: Aug 2013
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I got the packet in the mail this morning, after reading it all through I will 100% not be going forward. It doesnt seem to hit any of the promises made when they made their big announcement of opening LIFT. I could go to ATP and get the tuition reimbursement from any of the participating regionals and come out cheaper than the LIFT program with the benefit of ATP having done this style of learning for years, compared to the potential growing pains of a new school.
One thing of note is that the agreement DOES have a 5 year, $20,000 commitment. This is to cover the $20,000 "sponsorship" from Republic.
One thing of note is that the agreement DOES have a 5 year, $20,000 commitment. This is to cover the $20,000 "sponsorship" from Republic.
07-31-2018 | 04:10 PM
#106
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Joined: Apr 2007
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I got the packet in the mail this morning, after reading it all through I will 100% not be going forward. It doesnt seem to hit any of the promises made when they made their big announcement of opening LIFT. I could go to ATP and get the tuition reimbursement from any of the participating regionals and come out cheaper than the LIFT program with the benefit of ATP having done this style of learning for years, compared to the potential growing pains of a new school.
One thing of note is that the agreement DOES have a 5 year, $20,000 commitment. This is to cover the $20,000 "sponsorship" from Republic.
One thing of note is that the agreement DOES have a 5 year, $20,000 commitment. This is to cover the $20,000 "sponsorship" from Republic.
08-01-2018 | 05:07 PM
#108
On Reserve
Joined: Jul 2018
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From: Interviewing@RAH
I stayed at the Hilton Gardens - its a Holiday Inn with a Fancy Name...best part is that it is 0.4 miles from Republic's building.
I posted an earlier review of my visit....It may help you out. The only thing that was a challenge was the math. Not because it was overly difficlut, but because I havent practiced those skills in a decade.
If you have any other questions, hit me up. Also, I believe DefTone has been as well and can help out with his experience, too.
Best of luck, my friend.
//Bruce
08-04-2018 | 04:01 AM
#109
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Joined: Apr 2018
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From: E170 CA
Bruce has a really good write up about it in a previous post and my experience pretty much mimicked his. Good luck!
08-04-2018 | 07:54 AM
#110
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Joined: Jan 2007
Posts: 692
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I got the packet in the mail this morning, after reading it all through I will 100% not be going forward. It doesnt seem to hit any of the promises made when they made their big announcement of opening LIFT. I could go to ATP and get the tuition reimbursement from any of the participating regionals and come out cheaper than the LIFT program with the benefit of ATP having done this style of learning for years, compared to the potential growing pains of a new school.
One thing of note is that the agreement DOES have a 5 year, $20,000 commitment. This is to cover the $20,000 "sponsorship" from Republic.
One thing of note is that the agreement DOES have a 5 year, $20,000 commitment. This is to cover the $20,000 "sponsorship" from Republic.
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