why did i do this again?

[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.