Loan

[tizzizzailslf04]

I'm about to start flight training in the fall semester, and I was wondering how some of the loans worked. Is there a loan that you don't have to start paying back until you finish flight training or what? I hear some people talking about deferring the payments their first year at a regional and things like that, and I'm just wondering how it all works. Thanks!

 

[time builder]

Stafford student loans worked the best for me, low interest rates and nothing due until you graduate from college. You'll probably find that kind of funding is limited compared to the amount needed for training these days.

Hopefully you're young, if so, I wouldn't be impulsive about getting through quick. Good and bad times will come and go throughout your career. A good, conservative strategy that will give you economic fall backs for the worst case scenarios is what I'd recommend. I don't recommend going $100K into debt because you hear the "airlines are desperate for pilots" and "you need to get there as soon as possible."

 

[navigator72]

Do everything possible to avoid taking a loan for flight training. The less debt you have when it comes to the low paying flight jobs, the happier you will be.