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Student loses $110,000 in student loans to TabExpress

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Browntothebone

Well-known member
Joined
Feb 16, 2002
Posts
743
Then spends and additional $30,000 at Gulfstream to PFT!!!


SOME students involved in the lawsuit completed training elsewhere and found jobs. Mr. Palin said he now makes about $18,000 a year as a pilot for Gulfstream International Airlines, which flies primarily within Florida and the Bahamas.

Mr. Palin hopes to rise in the ranks and eventually land a job with a larger airline. “Tab Express is not going to take away a dream,” he said.


http://www.nytimes.com/2009/07/05/business/05loan.html?_r=1&scp=1&sq=tab&st=cse
 
Then spends and additional $30,000 at Gulfstream to PFT!!!


SOME students involved in the lawsuit completed training elsewhere and found jobs. Mr. Palin said he now makes about $18,000 a year as a pilot for Gulfstream International Airlines, which flies primarily within Florida and the Bahamas.

Mr. Palin hopes to rise in the ranks and eventually land a job with a larger airline. “Tab Express is not going to take away a dream,” he said.


http://www.nytimes.com/2009/07/05/business/05loan.html?_r=1&scp=1&sq=tab&st=cse


How are you affected by this?
 
Browntothebone is an interesting dude. For a guy that claims to be a 10 yr UPS guy I would hope I would have things like family to occupy my time. Not endlessly searching the internet (on holidays as well) to post things on a regional form so people will pay attention to me.
 
Note to self: do not shell out a hundred grand to a flight school named after a diet soda

Here's some other free advice to the aspiring airline pilots on here:

5 grand let alone 25 grand here or there let alone 50 grand here or there is a lot of money! So please do not shell out say 150 grand at Embry Riddle for a private college education with expensive flight time.

But at least you get a 4 year degree out of the deal versus a high end flight cost school school such as TabExpress or many others.

Beware: Pilotyip is likely to respond with his dementia posts about how the young'ens shouldn't complain and fly for the happiness of it all. It isn't fun to pay back loans even 50 grand, let alone 150 grand when making cheesy regional FO wages.

A starting FO wage is currently at a mind boggling $1500 a month take home pay. Doing the math, a $125,000 loan say equates out to about a $700 a month loan payment leaving $800 for rent, utilities, crashpad?, car, insurance, food, entertainment, etc.

Credit card debt sucks even more
 
I remember seeing these guys out at Deland with their snazzy uniforms and hats. They had the money to buy experience. Where as most people had to do it the hard way and instruct. They risked the money, we risked the time. They lost. It's a lesson that i hope will reach deep. I can't tell you how many people i spoke to who had no interest in Flight Instructing at all. Just wanted to buy a job rather than work at it.
I am sorry that people got burnt but PFT does nothing but devalue the industry.
 
If they are stupid enough to pay 100 grand for something that only costs 25 grand, too bad. Time to own up for your stupidity. Let this be a lesson learned. We all have to take responsibility for our actions. No own should feel bad for these clowns. Maybe they should do a little research before taking out a stupid loan for $100,000. Gimme a break!!!
 

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