Jetcareers - View Single Post

SteveC · April 11th, 2005, 11:12

My bet is that Key is finding out that CFI's and regional pilots can't afford to pay back those big loans at the wages they make. Key Bank isn't in the business of giving money away without getting it back......with interest!

Take a hint, guys. If the banks won't loan it to you, it's because they realize that they can't make money off from you. They are not in business to turn people down for loans, they want to give you money!

People getting turned down for huge flight training loans should be a red flag for everyone. Lending organizations love to have people in debt up to their eyeballs, as long as those people can still make the payments. Beyond that level and the lenders start losing their shirts also, not just the borrowers. If the lenders are seeing more people get into debt beyond their means to pay back the loans, then they change their lending policies. I think that you should keep this in mind when trying to figure out if you can afford those large debts in the first place, especially considering your income potential over the next few years.

April 11th, 2005, 11:12	#36
SteveC Ameliorator Join Date: May 2003 Location: GRR Posts: 11,203	Re: Key Bank loan My bet is that Key is finding out that CFI's and regional pilots can't afford to pay back those big loans at the wages they make. Key Bank isn't in the business of giving money away without getting it back......with interest! Take a hint, guys. If the banks won't loan it to you, it's because they realize that they can't make money off from you. They are not in business to turn people down for loans, they want to give you money! People getting turned down for huge flight training loans should be a red flag for everyone. Lending organizations love to have people in debt up to their eyeballs, as long as those people can still make the payments. Beyond that level and the lenders start losing their shirts also, not just the borrowers. If the lenders are seeing more people get into debt beyond their means to pay back the loans, then they change their lending policies. I think that you should keep this in mind when trying to figure out if you can afford those large debts in the first place, especially considering your income potential over the next few years.