Career Experiences & Loans

[CrewDawg]

Age: 22
Started: Fall 02
Hours: 500
Job: CFI
Loans = 5000
Ratings - Comercial SE & ME land; Inst. Airplane. CFI.
Also got a college degree.

Joined the Air National Guard and let uncle foot the bill. Probably the best decision for me. They pay tuition (100%) in most states, GI Bill, Kicker, Student Loan Repament (up to 20k), and depending on your job a nice sign on bonus. Coming up on 5 years and have loved every minute of it (minus basic=gay). I have been able to travel all over the U.S., and oversees including Spain which was the highlight of that trip. I have also been fortunate in that I have not been deployed for large amounts of time. Fighter units tend not to get deployed as much as our heavy brothers.

Also being in the guard helped my get a flight slot with my guard unit. I am serving as a F-16 crew dawg right now and
I have 1 year left on my enlisted commitment. If I lose my medical for my pilot slot, I'll prolly just get out. I have enjoyed my service and am glad I have did it. But coming home for drill once a month (at E-5 pay) is not easy with a career in aviation (limits my opportunities). Goodluck.

 

[WGP guy]

Just building time (~15 hours a month) for the commercial and having fun.

MFR

Thats about 1600 at most FBOs, thats a LOT to manage for a 16 year old even with 2 jobs.

I seriously doubt I (15 years old) could make over 1000 per month with 2 jobs, even if I was 16. Right now I'm getting by with 2.5 hours a month paying half of it from savings (not college savings or anything, I actually started a savings account for flight training kinda). But, I'm going to get a job as soon as I am 16 and can solo, $70 an hour is much better than 110, so I can manage more.

Anyway:

Age: 15
Started: Winter 05
Hours: 7
Job: none
Loans = none
Ratings - student soon

 

[scubabri]

Age: 40
PPL : Sept 2001
Hours: 3000
Cost: about 18,000 for training and another $30,000 for the flight time
Job: 135 Lear F/O
Loans: None

When I changed careers, it occured to me that as I was building time, my income would be close to nothing. My options were to get a part time job in my old career to pay the bills for my new career, but that would reduce my time and ability to move should a job come up, or to suck it up, get rid of all my bills, and pay cash for my training and live as cheap as I could (tuna and beans) until built enough time to get a real job

So, I begged and traded for flight time to get my first 500 hours and then found a job flying skydivers, did that for 6 months and got my next job as a CFI. I spent every extra $ on flight time in whatever I could fly. I built time between teaching and flying at night at about 100 hours or more a month.

Now that I am 40, I may have no savings, just like I was when I was 20, but I also have no debt, so it makes living on the cheap VERY easy.

Don't take the easy road and get loans or get aviation degree's at some high priced aviation school. Do it the old fashioned way, work a part time job, scrimp save and don't be impatient.

Why? it's more fun, you'll get better experience, and when it comes down to it, when you do have the time you need for your dream job, you will be qualified for that job with skills and not just total time.

Once you get that dream job, instead of buying a new car and blowing all your cash, get a good savings for a furlough fund, 1-2 years of living expenses.

When you are done with that, start saving for retirement, when you get a good start on that.. THEN have some fun with your hard earned money.

Oh, how does this relate to someone that is 16 just starting out? Because whether you are 16 or 40, we all start our aviation training in pretty much the same way, and unless you a rich.. we all have to fund it pretty much the same ways.

good luck.

sb

 

[hoop]

Good post Scubabri! I am 34 and this is pretty much the path I'm taking..... Just having a bit of a hard time with the patients part!

 

[skygod75]

30 years old and glad I got out of this f'ing racket. Go find yourself a stable career path and leave the flying as a hobby. Your parents are correct: you may not get a job, you won't pay back your loans, and filing the almighty BK to get out of 'em is harder these days. Go to the airport and look at all those cattle bus drivers walking from gate to gate. You'll see some of the most unhappy faces around. That should tell you something.

 

[MFRskyknight]

Thats about 1600 at most FBOs, thats a LOT to manage for a 16 year old even with 2 jobs.

I seriously doubt I (15 years old) could make over 1000 per month with 2 jobs, even if I was 16. Right now I'm getting by with 2.5 hours a month paying half of it from savings (not college savings or anything, I actually started a savings account for flight training kinda). But, I'm going to get a job as soon as I am 16 and can solo, $70 an hour is much better than 110, so I can manage more.

I am referring of course to time without an instructor. 15 hours a month @ $60 for a 152 runs me about $800 (block time discount), usually less 'cause somehow it always ends up that I don't get to fly that much. Stupid Oregon weather for ya.

If I was 15, I'd get whatever job you can and save up some cash for your private. Even if you make as little as $500 a month mowing lawns or something (don't laugh, there are CFIs out there that would envy you), and your 16th birthday is at least a few months off, you would have a couple grand on hand to get your solo and well into your training.

Just try not to spend it all on penny candies and wiener whistles.

MFR