rickair7777

This can actually make sense... the conventional wisdom is that if fly 100+ hours/year it is more economical to own than rent.

If you go from zero to COMM/CFI in a year you are looking at 270 hours, well over the rent/own threshold.

Also it used to be real easy to get a student loan, while it would have been harder to get a loan to buy an airplane. Today, the student loans are tighter but if you have a job you could probably afford a $30K airplane loan. I don't think you could go less than that, you will need something IFR certified, and you don't want to be too close to TBO since that increases your risk of catastrophically expensive repairs.

There would be some downsides...

-You would have to pay taxes, Mx, ramp, etc fees. Sales tax might include a luxury tax in some states.

- Insurance is not cheap.

-There would be risk of unexpeced Mx costs...a new engine could break the bank, and a top-end would render the whole prospect a financial loser (although you would get much of that money back when you sold the airplane).

-You would still need some twin time.

Also, realistically, nobody with zero flight time is going to consider buying an airplane to do professional pilot training, I suspect that only a PPL would consider this which reduces the economic advantage since he already has 50+ hours.

Duksrule

Been there, currently doing that. If you are planning on leaseback, be careful and do your homework. There are a few schools around here that have 10 planes on leaseback and they hardly ever get off the ground.

Cruz5350

I bought my own airplane and it's been great savings. Wish I would have bought it the day I started my Private license instead of just time building and using it as a traveling machine.

stbloc

This is the quote of the day. I could probably come up with 100 jobs that could eventually pay 100k or more with this type of degree.

chignutsak

Economics is a tough science to master. A quality degree from a good economics department tells future employers that you have some brains upstairs.

SkyWolf

Would it be possible for you to do a dual major (avaition and economics), and only take the one degree - econ? Thats what im thinking about doing... Get the flight training, but graduate with a degree useful to the rest of the world. Not sure how thatd pan out financially or with financial aid, though.

Cruz5350

If that's what you want to do just go to college and get your flight training at a local pt. 61 school. That's what I did.

IDIOTPILOT

The proposed plan appears to require all the aviation related classes and flight courses. If you're gonna take all the required classes and flight requirements than you might as well get that second degree. The waiver doesn't even exist yet, so if you have time I'd wait it out.

flyingsaluki1

I would recommend going to an aviation university, or a university with a flight school. I'm not talking about those 90 day fast-track flight schools like ATP, I’m referring to State schools with flight programs. A School like Southern Illinois university or Purdue will allow you to receive quality training, great industry contacts, as well as the option to double major in something besides aviation if you so desire.
I’m not sure about Aviation only schools like Embry-Riddle, but I do know that you’ll pay exponentially higher for an education there. State schools are good if you’re trying to control the costs. While you MAY pay less if you do your training at an FBO, you’re still going to need a degree to get a job in the airlines. Why not double your buck and get both flight hours and credit towards your degree for the flight course.
If you’re worried about the 1500 hour rule, I can almost guarantee you that no fbo will get a waiver for reduced minimums. Accredited schools like Southern Illinois are in the best position to get reduced minimums. While the word is not out yet on the waivers, it’s a good bet that Siu will get one.