why did i do this again?

[WalterSobchak]

Why does everyone in my generation expect everything to be handed to them?

Do we really need to hold your hand through this & explain it slowly so you can understand? I mean, Hell...I'm not even a g-ddamn pilot and I get it.

Seriously, man...are you retarded? Buck the hell up, quit making lame excuses (did you really just use "I live with my parents" as an excuse?...Jesus, man...do you not realize just how easy you have it?). Get off your duff, get your crap together, and try to snag a job flying boxes or at a low-time regional and do something on the side.

Like my mother always told me everytime I spent money on something I didn't need as a teenager..."If you're gonna spend that kinda money on something and then not use it...you may as well have just wiped your @ss with that money..."

 

[machaf]

8.5% interest on a student loan is BS!

 

[CrownandCoke]

8.5% interest on a student loan is BS!

I locked mine in at 2.8%. Even with high interest rates today, if you consolidate, you should be able to get it for about 5%.

 

[Papps]

Ninja if your this bummed about aviation now, your going to really be pissed once you settle into the soul numbing monotony of a regional schedule.

 

[Sawmill]

Why is everyone trying to figure out how to fix Ninja's problems? Heres an idea Ninja: Be a man! Stop your whining and grow a pair. Start making the tough decisions and stop taking the easy way all the time (see where it got you to begin with?) When I was your age (im assuming you are youngbased on your statements above) I put myself in tough financial situations and realized that I was going to be the only one who was going to get me out of these problems. The sooner you realize that, the sooner you will be doing what it is you want to do in life...and will be happy for it.
You are not a "tool" or anything else other than niave (sp?) and yes you got taken. Get mad and get over it...or...fix the problem, not the blame.
I think everyone sees the real solution to your problem. But you have to figure it out for yourself. (Ill give you a hint: Is there now or will there ever be any money in flying? Keep in mind there is only a finite number of FedEx and UPS jobs)
That said, I would take anything I just said with a grain of salt just like everything else you read on the internet. This is, afterall, a 2 cent opinion of a complete stranger. Good luck.

 

[Demopilot]

I just bought a house in Jersey.. Im not going to tell you what that costs!

I feel your pain...I just closed May 1st in NJ myself. It's ridiculuos, especially when I think of what that money could've gotten me in Texas.

 

[capt. megadeth]

Like my mother always told me everytime I spent money on something I didn't need as a teenager..."If you're gonna spend that kinda money on something and then not use it...you may as well have just wiped your @ss with that money..."

Your mom is cool!

Man, I wiped my ass with a lot of money in my early 20's unfortunately. I finally learned my lesson when I bought a house. Now I am a cheap woman.

 

[jmreii]

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

Not having a airline job because CAPT management screwed you over with lies and broken promises: PRICELESS!

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.

I feel awful for you, my house notes are just a little more than 982. I believe financial planners really need to sit down with students and go over all the pros and cons of taking out such a student loan, especially for aviation related endeavors.

 

[Mickey]

I always thought math skills were something needed by pilots. Before trying to buy time, figure out if you can afford it on the job you'll be getting. It took me longer to get my first regional job but, when I did, I didn't have any debt. I actually bought a nice house on regional FO pay.

I've flown with some CAPT graduates and they seemed very well prepared. More so, than a lot of the other pilot factories. They still lacked experience but a least, they knew that they didn't know everything and they were willing to learn more. As many people have said here, good attitudes go a long way in this profession.

 

[Cambereffect]

I don't know how to interview for an airline job, thanks to CAPT.

Funniest quote ever.

 

[ex j-41]

Dude, move to florida, buy a house there. Do what you can to pay back. They can never take your home if you live in florida. In 5 or 10 years sell your house and hopefully the market will appreciate enough that you can pay off the loan with that money. Do not hold off buying, do it soon. There are plenty of options if you have a crappy credit rating. Let your money help you pay off your debt. Not only that but renting is a waste as well. Get yourself some roommates and within 10 years that loan should be paid off.

 

[JimNtexas]

I hate to pile on, but anyone considering taking out such a huge loan should consider just buying their own airplane to get the ratings and build time in.

You can get a nice warrior or C-152 for $30K, get your ratings in it at the local Part 61 school, fly it for 500 hours,then sell it for most of what you paid for it. Even better find another guy and split the cost. It'll sure cost less than $100K to get hired. A lot less.

 

[aviatormar]

Hey Ninja,
Alright here is an easy solution. Get your CFI only, then come here and work for us, Sierra Academy of Aeronautics in Atwater, CA. 25 bucks an hour, plus the best part, free room and board while your here. We have guys here making more then 4 grand a paycheck, clearing 8 grand a month (do the math that's about 95K a year, no sh!t). You can upgrade all your certs for next to nothing (74 an hour for a 152 and 140 an hour for a PA-44-180). I'll admit it's a tough job, but you could stay here for a year or two and have a huge chunk of that sucker paid off. Dude, there are options, man up and get off your arse and make something of yourself.

 

[Papps]

I don't understand did you think that the CAPT program was going to send you directly to the left seat of a 737 making 100 or more grand a year. What did you think you were getting into. You obviously can't stand the thought of being a right seater in freight or the regionals.

 

[molson247]

I don't understand why you think your flying skills aren't up to par for the regionals.....flying skills don't really matter. Just make sure you can hit some buttons with your index finger and you will be fine. Good luck man, this industry is a bitch

 

[kingaira90]

WalterSobchak

Awesome movie, great scene, funny quote!
-kingaira90

 

[Aerosurfer]

(74 an hour for a 152 and 140 an hour for a PA-44-180)

Jeese.... I remember paying 48 for a 152, 77 for a warrior and 109 for a seneca, and this was still in the Late 90's early 2000s.... Is this what is really 'reasonable' nowadays or just Cali prices?

Whoever said to just buy a plane and get all your ratings... that is a great Idea with a descent return on the investment if done right

 

[ToiletDuck]

Went to a private university. Total tab including ratings was around $97k I think. Parents helped some. Had a job working pretty much full time, ABC News and Dell Computers, owed $15k in students loans. Current rate is 2.9% and in a few months will drop to 1.9% Much better than any other school loan I had found. Monthly payment is around $110. It wouldn't be worth it to pay it off at that interest rate. I earn a minimum of 5.15% on savings and pushing over 15% on investments.

 

[ToiletDuck]

Jeese.... I remember paying 48 for a 152, 77 for a warrior and 109 for a seneca, and this was still in the Late 90's early 2000s.... Is this what is really 'reasonable' nowadays or just Cali prices?

Whoever said to just buy a plane and get all your ratings... that is a great Idea with a descent return on the investment if done right

I'd shoot to say average cessna 172 price is around $110. If you see one for much less they usually have a fuel surcharge they add onto it.

 

[Edge540]

$0 debt for my flight training.

1 degree in computer science, no debt.

And an airline job... Worked out well for me I guess.

Scholarships and worked my ass off during college to pay for my certificates, then instructed.

And people wonder why I despise riddle, atp, and all the other pilot factories..... all they do is screw people.