How much debt....

[time builder]

I didn't really go into debt until I started flying commercially, go figure. Man, it can be downright criminal what these initial jobs pay.

 

[JohnDoe]

My advice for anyone getting into this wacky biz is to stay away from the big flight schools and aviation colleges. Pan Am, UND, E.R. etc. promises the moon but there is absolutely no difference in training between these places and your local FBO except of course for the price.

Definitely agree with this one. You can do it so much cheaper avoiding the "big-box" schools. The only difference will be the dollar figure of your debt.

 

[joepilot29]

Went to delta corruption for pvt thru cfi
total loan 100K
Monthly payment $625 for 18 more years

 

[wrxpilot]

Went to delta corruption for pvt thru cfi
total loan 100K
Monthly payment $625 for 18 more years

I just don't see how you guys starting out can afford that...

 

[Thresh]

none, 25

 

[Captain Oveur]

No debt when I had my basic ratings. A Cessna 150 went for about
$10.00 per hour, but then, I was just taking home $440 a month as
an E-5 (mid 70s). And I took about 3.5 to 4 years, that might be a little longer
than many want to take, LoL.
No GI bill, either, I was 'saving it'.:bawling:

 

[MFRskyknight]

22, private with instrument, and only $33,900 to pay back to Keybank. All thanks to Scareman Fright School! Sept. 5th it'll have been a year since I "finished" that pilot upgrade course.... but I'm making ok money now (working two jobs) and scaring cows in 172s and T-crafts about 8-12 hours a month

MFR

 

[navigator72]

Just a few small personal loans to keep me flying. Those loans have been paid off for a few years now. Age 36

 

[Socalplt]

Went to a community college in SOCAL back in the early 90's. Paid $15hr dry for a 152, $10 for fuel, $20 for the instructor, 172s went for around $44 wet, Senecas under $100. Paid under $13,000 up to my Comm MEL/SEL. A few years later added the CFI, CFII, and MEI for under $5,000. Luckly only went into debt on about $6,000 of it which I paid off years ago.

I know things have changed, and you probably couldn't do it for less than 30-40k now. However, I recently had an FO tell me he owed over $80k for his training. Nearly made me sick thinking about how he'd be paying on this the next 15-20 years+.

 

[stearnst]

....Nearly made me sick thinking about how he'd be paying on this the next 15-20 years+.

Try at least 30 years, if I'm lucky!