Fileater55

How did most of you apply for your loan's with flight training? I am currently a high school student.. But I have been looking around about how to go about applying for them. Are flight training loans just like a Student loan?

freezingflyboy

I wouldn't touch a flight training loan with a ten foot pole. This career is NOT worth going into massive debt for. Go to college (you're going to need a 4 year degree anyway. And at the first wiff of furlough you're going to be glad you have one) and work your butt off. I would sock away a few hundred bucks a month...as much as you can...and then fly my butt off during the summer (as well as working as much as I could). I had parents that were able to help me pay for tuition but I still worked 30-40 hours per week my entire college career and still graduated in 4 years with very little debt.

I can not tell you how many guys I fly with who are still paying off massive loans from flight training. One guy I talked to was paying $800/mo as an FO! When you're on reserve and only taking home $1200-1400/mo thats a BIG hit. Imagine 2/3 of your paycheck gone before you even THINK about eating or paying for a warm place to sleep or gas in the car. Not a lifestyle to look forward too if you ask me.

Fileater55

Well luckily i work for my local FBO right now. Although will school and night classes it sucks not getting the 40 hour week. But luckily I make good money for being in high school. Im at 12 bucks an hour right now. I am pretty much an apprentice, with the A&P's Chief Pilot and others. But.. This summer I plan on finishing my PPL, and starting my Instrument so it will come.

freezingflyboy

Thats great. At least you got a foot in the door. I'm sure you probably have but if not, see if you can talk them into discounting your flight training since you work there.

When I was in high school I got a job working in restaurants and quickly figured out thats where the money was. By the time I was 17 I was making roughly 20-30/hour bussing and waiting tables at a nice restaurant. Did the same thing while in college and had a blast since everyone hangs out at bars and restaurants in college anyway. Nothing like keeping beer costs down and getting paid to hang out with your friends

But that doesn't change my original point...DO NOT go into debt for this job. Or if you do, as little debt as possible. Think about what you spend now and see how comfortable you'd be living on $400/mo ($1200-$800 student loan payment). Thats $13/day. For everything...Rent, food, clothes, gas...everything.

Fileater55

Ya I see what your saying. I have spoken to my boss as well. We are also a Charter company we fly 421's and a Commander. They are helping me a little with my flight training. He needs another pilot no board because we sell LSA's the Dova Skylark. We actually manufacture them and need other pilots to break them in. But I dont think I can do that until after my commercial. But anyways thats my story. And I am scared of debt. Haha your right its not worth a 19 dollar an hour right seat job.

Pilotpip

I agree with everything Freezing says. I did the restaurant thing for a while and then worked at an FBO through college. If they have a flight school get friendly with the instructors and they'll likely help you out a bit by not charging for dual. Worst case, make friends with owners of aircraft on the field. Wash some planes, cars, whatever. Worst case you get to go for a few rides. I had quite a few students by the time I had my CFI by doing this.

soldierboy

I will retire from the Army here soon and will use my Army GI Bill/VA benefits to help pay for my training. That will cover 60% of my training costs.
Then I will use my retirement check to supplement my income while in training and first few years of regionals........when the time comes.

freezingflyboy

Sounds like a good deal if you can get in on some charter trips or eval/demo/delivery flights for the LSAs after you get your commercial. Don't let your eagerness for flight time get you to make bad decisions. You should get real familiar with the ins and outs of what you can do with a private pilot certificate (not much) and how the FAA views "compensation or hire" rules. You really do need a commercial ticket before you start doing any sort of flying for free, at a reduced rate, or getting paid. Sounds like you're headed down the right track. You really don't need to be in a hurry. The airlines will still be here a few years from now and now is definitely not the best time to be getting onto the bottom of anyones seniority list.

wjh308

I already have the 4 year degree, went to ATP after I decided ATC was not for me, now I am flight instructing and giving all my paychecks to Sallie Mae.
Just do what works for you. Some say taking out a loan is a very bad idea. It all depends on your situation. I am 27 years old, the loan was the absolute best way to get it done. I am paying it off by flying, not flipping burgers. Just think about ALL that wasted time your NOT flying to save up to fly? At least I can log the hours that I am paying off that loan with..
Less than a year from when I started, I have my CFI, CFII, MEI, have around 415 total hours, 140 multi. Any other way than what I did would of been stupid, for MY situation.
Is this profession worth it? I will admit, the magic is gone, flying an airplane is not exciting to me anymore. With that said, there is absolutely NOTHING else I'd rather be doing for a living. The people you meet, fly with, you belong to the pilot fraternity, you will miss the people you fly with, not so much the flying. I miss everyone I flew with at ATP already. Luckily this is a small industry, I may just end up flying with them again down the road.
I did my Private Pilot at a 141 school with Miami Dade. Then went to ATP for everything else. I got a taste for 141 and 61. Now I am instructing for the 141 school where I got my PPL. Personally, I like part 61, it is faster, cheaper, and LESS PAPER WORK!!!! Well for the CFI that is...

wmarti31

Are you going to get your 4-year degree? If so, you could apply for a few scholarships (through the school and outside foundations), and this could help you pay for some of your training. That's how I did it. Scholarships and working two jobs.