Paying Your Loan?

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View Poll Results: How are you dealing with your aviation loan
I am paying it off
64.82%
I am deferring payments
14.07%
I have completed paying the loan off
15.58%
I have filed personal bankruptcy and no longer have the loan
5.53%
Voters: 199. You may not vote on this poll
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USAF paid for mine hahahaha
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Quote: I flew with a guy who unloaded his loan by filing Chapter 7. Maybe he was able to do it because it was technically not a student loan, but a private loan.
Thats what the airlines do when they cant pay their bills, why not!!?
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I wish you could discharge your student loans through bk. I would have done that a couple years ago. So right now i'm just deferring them and paying intrest only on my private loans that won't let me defer them anymore.
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Quote: Never had a loan. Worked. Flew. Repeated.
Wow, 727gm, you are awesome! I wish I was as bad-a$$ as you.
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Quote: I flew with a guy who unloaded his loan by filing Chapter 7. Maybe he was able to do it because it was technically not a student loan, but a private loan.
That's a real stand up move.

I think society would be better off if we went back to the old style of debtors prisons. Perhaps then people would not gamble with biting off more than they can chew and then dumping their losses on the rest of the economy.
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Was fortunate to only have to take a small loan during commercial training. Worked and flew for 3 years up to that point to go cash only. but alas am paying the loan I do have
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Quote: That's a real stand up move.

I think society would be better off if we went back to the old style of debtors prisons. Perhaps then people would not gamble with biting off more than they can chew and then dumping their losses on the rest of the People.
Fixed it for you.
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Paid off the credit card 'loan' every month--I was lucky enough to have a good paying job and money saved up before I realized I wanted to fly.
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Paid as I went.


I would like to see of poll of how many people either:

a. took out a loan
b. paid as they went
c. military

It just startles me how many people would choose option A.
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Unfortunately, the poll was only limited to 4 options. An advantage (perhaps the only one) of the loan is it can allow you to finish your ratings quickly. I am by no means defending any method people use to pay for flight training, but it is interesting to see that statistics behind it.
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