why did i do this again?

[willNOTfly4free]

How many years did it take you to complete your degree? I have a hard time believing a 4 year aviation degree anywhere costs a quarter-million dollars.

 

[mynameisjim]

How many years did it take you to complete your degree? I have a hard time believing a 4 year aviation degree anywhere costs a quarter-million dollars.

The training didn't cost that much, that's his total loan repayment with interest for 15 years. At most interest rates, after 15 years the loan repayment will be double the initial loan amount.

 

[V-1]

The training didn't cost that much, that's his total loan repayment with interest for 15 years. At most interest rates, after 15 years the loan repayment will be double the initial loan amount.

The "Rule of 72" applies. Take the number 72, divide it by the interest rate paid, the answer will give a very good indicator how long it will take the original amount financed (or saved) to double.

At 5% interest, the total repayment amount will double in approximately 15 years. At 3%, it will take around 18 years.

What interest rates are student loans going for these days?

 

[tathepilot]

A little hard work and dedication will pay off a lot.. My parents didn't have the money to send me to flight school, so I knuckled up and got a job @ age 15, in fact at one point I had 3 jobs.. By the age of 18 I took my checkride..
Not a single loan..

 

[siucavflight]

Riddle is awesome!!!

Went to SIU, 144 a month for 9 years.

 

[JettBoii]

That is insane. I spent 30,000. Go ahead and kill yourself.

 

[samballs]

The worst part is the loan is with Sallie Mae they mess up alot. 2 years ago they messed up the interest rate or something that made alot of people owe more money then they were paying, all they did was send a letter syaing you have 30 days to pay us the money you owe us, it was our screw up, but pay now, that is our money

 

[cwebster2]

There are d0uches in this world, and then there are CAPT management d0uches. Last I heard (a couple of weeks ago) they got 2 cadets total around the camp fire. Pathetic.

your lack of a job might also be due to your flight times or more importantly that bitter attitude you have that shines through in every post you make. I imagine you dont interview too well, esp if you give off even 1/10th of what comes through in your posting history.

 

[Flying Ninja]

your lack of a job might also be due to your flight times or more importantly that bitter attitude you have that shines through in every post you make. I imagine you dont interview too well, esp if you give off even 1/10th of what comes through in your posting history.

I don't know how to interview for an airline job, thanks to CAPT. That was part of the package but they decided to drop that class because the guy who taught it smartened up and left CAPT before my class got to take it and CAPT never filled that position before I left.

I know I don't have the flight time to qualify so there's no point for me to apply, and by logical deduction, I haven't interviewed anywhere. One can't help but feel bitter when you poured all your heart and soul and time and money into aviation and it didn't turn out all peaches and cream because CAPT lied and were dishonorable in their promises. I was too green back then to know any different. I trusted them 100%. I don't have any money to fly the hours needed to get a job. And I know my flying skills have deteriorated to the point of embarrassment so I'm not going to waste airline HR departments' time.

I was here posting to simply state that flight training cost a lot of money and share my financial picture as a result. And that CAPT are a bunch of liars and people would do well to avoid them like the black plague. That's all.

 

[Windsor]

Since we're all sharing, here's my debt picture from flight training:

Started Payback (July 2006) Balance: $101,819.82
Current Balance: $97,065.15
Monthly Payment: $982.69
Current Variable Rate: 8.5%
Years To Go: 14

Thats for Law School right? Cause unless you go right to fed ex or ups right out of training, a regional is a pretty poor return on investment.
Do yourself a favor and declare bankruptcy.