Tab Express (Deland, FL) Shuts Down!

[Denizen]

Key Bank

Interesting aside about Key bank,


A few months ago, I was trapped in SLC unable to ski. So I read the free USA Today and the local fish wrapper.

Seems like Key Bank was involved with a nursing school in the SLC area that did the same thing.

The school offered a nursing degree in a shorter than standard time and a job at the end.... IIRC the price was higher than other nursing schools, but they offered a "fast track" to a "good" nursing job.

After enrolling enough students, taking their money up front, the school closed its doors citing some sort of financial difficulty.


Odd that this same bank is involved in many scams such as these. Again, fuzzy memory, but the bank seemed to be involved with many trade schools.

Someone got rich, the students got the massive note and nothing in return.

Buyer Beware, if it seems too good to be true...

 

[fliynhi]

Hey Jetblast2000, do you work for the media? I thought they were the only guys who could take one little snippet of a qoute and turn it around to sound like something completely different. If you read my entire post I said, "No I didn't drop 100k. I made it through just as the "airline" scam was being dreamed up." I also said, "I didn't think it was a good idea to borrow money to make an investment, but they thought otherwise and learned the hard way." They as in the students who took out additional loans to invest in the airline. Did I spend alot of money on my ratings at Tab? Yes. $100,000? No. Did I buy my job? No. Should I have saved some money and gone somewhere else? Probably. Hindsight is always 20/20 and it's real easy to sit back and judge someone else's decisions. My whole reason posting on here is not to defend pft, but rather defend people with little or no experience who got took by a criminal organization. Those students got screwed bad enough, they don't need people they were hoping to work with rubbing their nose in it. They made a BIG mistake and will be paying for it for the next 20+ years. Just cut'em a break and go after the TAB mgmt. They are the ones who deserve to get screwed.

 

[RSixer]

, but rather defend people with little or no experience who got took by a criminal organization. Those students got screwed bad enough, they don't need people they were hoping to work with rubbing their nose in it.

That's exactly the piont, these crooks who take advantage of people who don't really know anything about aviation yet, all they know is thier dream of wanting a flying job, hell years ago when I just got started if someone told me they could get me on with a airline in record fast time, I to would of at least seriously considered it.

 

[JetBlast2000]

Hey Jetblast2000, do you work for the media? I thought they were the only guys who could take one little snippet of a qoute and turn it around to sound like something completely different. If you read my entire post I said, "No I didn't drop 100k.

My post was not implying that YOU paid the cash. I was merely pointing out the flaw in your logic. At one point early in my career I considered the Am-flight right seat program. But after talking with those pilots who were flying for Am-flight I realized that there are no short cuts. And for me, the CFI path would be more productive.

[font=&quot]The goal is PIC time. Weather its single or multi. I’d rather have 1000 PIC single than 500 sic(or pic) multi turbine and be out 25K… PIC is KING![/font]

 

[Flyguy6]

I have a question about PFT. I notice a lot of people get ill when you mention PFT. I really dont kow much about it so I dont have an opinion. But I would like to ask this. I am 37 years old and I want to be an airline pilot. If I wait to get the CFI job and bukid hours for 2 years just to get a charter job flying Barons for anotyher two years and then get to an airline.Iwil be too old to have a career. So whats wrong with an older person that wants to be a profesional pilot to do PFT? Its gets you to your goal before you get too old Everyones situation doesnt allow them to go the traditional route. Just asking. I did go the traditionalroute.It took me ten years to get my commercial lisence. I went from FBO to FBO and flew when Ihad the money. I am in Iraq now with the NAtional Guard trying to earn money for my multi and CFI.

 

[RSixer]

I have a question about PFT. I notice a lot of people get ill when you mention PFT. I really dont kow much about it so I dont have an opinion. But I would like to ask this. I am 37 years old and I want to be an airline pilot. If I wait to get the CFI job and bukid hours for 2 years just to get a charter job flying Barons for anotyher two years and then get to an airline.Iwil be too old to have a career. So whats wrong with an older person that wants to be a profesional pilot to do PFT?

PFT is a little vague, we all paid for our training, ratings are not free no matter where you go. If an airline or school states that if you give us $30,000 will put you in the right seat of XXX aircraft. In reallity they would have to fill that seat anyway if it is a two pilot aircraft, they would have to pay someone to sit there. So why not get a person to pay for that seat, it works out great For Them. In return you get no real promises, time that is not that good if you really think about it no PIC, and that is what counts. Truthfully after a while this job that you paid for becomes "just a job" would anyone pay to work at WalMart, no probablly not. After it is all siad and done you are back to square one agian, you might get a regional job, you might not (remember no real promises), but what you will have is a big monthy bill to pay off. Its all about shopping around for training, there are numerous avenues to go down that are alot cheaper, such as pay as you go training, each hour is paid for as you fly them, not pay for them all at once. In my opinion PFT cheapens the pilot profession, it keeps our salaries low because people will do it, when we should be getting paid for what we are worth.

 

[fliynhi]

True, but you don't get to fly at Wal-mart. Unless you're lucky enough to get into their flight dept. The truth is, until the industry gets stronger, and who knows how long that will take, pft will stay put. Like it or not it's most likely here to stay. I can understand an older career changing pilot going this route, but a 19 year old doing; it is just not right. Not that I'm happy about it, but pft is probably here to stay so we'll have to deal with it. I'm sure alot of people on here won't like what I said so go ahead and say what you will.

 

[cale42]

For the record... Key Loan has nothing to do with this and deserves none of the blame. I work for a flight school that used to work with Key Loan. They informed us earlier this year that they would no longer be offering loans to pay for training at non-Title IV schools.(i.e. schools that are not accredited institutions that offer a degree). This means no more loans for flight training, nursing or any other technical style training that key previously financed. From what we were told it was simply a business decision that they were making, they felt financing technical training was a hassle that wasn't worth what they made on it.

It was a bit of a blow for us, Key Loan is one of the only companies that will finance students for the large chunks of money to go from PVT to CFIAI(usually 25-35K even at an FBO). IMHO it is a shame also, because Key usually had the lowest rates of all lenders and by far the best customer service. There are other companies our students can use that will finance these amounts, however I expect in the TAB case Key may have been the only company that would finance their ridiculous costs. I have also heard(heresy only) that students taking out excessive loans they couldn't afford(to go to TAB???) and then defaulting on them was part of why Key Loan got out of that side of the business all together.

Just an interesting(at least mildly) sidenote to this story.

 

[mayday1]

In my opinion PFT cheapens the pilot profession, it keeps our salaries low because people will do it, when we should be getting paid for what we are worth.

Rsixer, in my opinion PFT has little to do with the low salaries that airlines pay. As long as throngs of qualified pilots line up to take FO jobs that start at $18k a year, salaries will always be low -- it's supply and demand. Airline mgmt is only going to pay what they need to. Wouldn't you if you were running a business?

Most on this board argue how awful PFT is to the airline industry. I argue that every pilot that accepts an FO job at some below poverty level salary validates airline mgmt's position that they can get away with paying these below poverty level salaries.

 

[250 KIAS]

Here is an article from the student's viewpoint.


http://www.wesh.com/news/4618631/detail.html

Oh my god, I tried to open that article, and when I right clicked on the link, it said "Open New Tab." I almost pissed myself....Anyone got any more weed?