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Checks said:
Serious question, what happens if someone goes thru one of these schools and then, after getting all of their ratings, they file bankruptcy? I dont advocate this, but was curious because recently a 18yr old kid told me that this was his"plan". He also signed up for a pilot factory down South but had less than 10hrs flight time. His quote "All I want to do is fly"
TDTURBO said:Easy answer, bankruptcy is NO HELP for student loans. They will haunt you forever. As far as I understand it, you will have it on your credit report forever until it is paid.
(emphasis added)nonstop said:I enjoy flying. Unfortunately I've come to find I value a stable financial income and permanent residance even more than flying. The fact is I've invested 9 years so far in college, flight training, internships, flight instructing, Flyin the line in a jet... and I have yet to come close to $30,000/yr.... while I could have become a lawyer, doctor, or graduated with an MBA with the same or less money&time invested... making 2-3 times+ the money by now with a far more stable career . . . I wish this board were around when I made the decision to pursue this career so I could have got a dose of reality. Unfortunately my only source of info was the media and flying schools, who like promote the idea all pilots live like 777 CA's in happy land. It's such a grand image they paint it's so easy to buy right into it.
A lot of people seem negative, they crush your idea of what this industry is... but they're just telling the truth. Truth is, most people have no idea what they're getting themselves into when they begin this career.
Keep in mind too, the question you ask and the circumstances it's in. This is possibly the worst time in the aviation industry. 5-10 years from now it might be a lot better, it might also be a lot worse. It's just a roll of the dice . . .
adam_jorgensen said:I have never meet a pilot in real life that has been laid off yet.