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stuckingfk · September 13th, 2003, 11:49

[ QUOTE ]
Actually that is very common in Part 141 academies

[/ QUOTE ]

Should it be common practice. No, it shouldn't. I wonder why FSA doesn't do it. My guess is that they are a reputable company that understands that is how it is done.

I came up with the number 400 from how many students were left out on the street at ATA. You are right, I am sure there are thousands that do it.

I attend a part 141 school (UND) and every flight student has control of THEIR money. You know why, because it is theirs. You can take out money when needed and add it anytime you want to, over the phone or in person.

Some students add money every week to their flight account so they can earn interest in their own savings account.I thought about doing that, but when I found out we accrue interest in our flight accounts if the balance is over $1000 I decided not to. The most I will put in my flight account is $5000 just in case something bad happens. I don't think it will happen because our money is kept away from the airport and the aerospace school. Everytime we pay it is to the business office of UND so if there ever was a problem, we wouldn't be out thousands of dollars.

September 13th, 2003, 11:49	#15
stuckingfk Old Skool Join Date: Oct 2000 Location: El Forko Grande Posts: 2,601	Re: Response to JT [ QUOTE ] Actually that is very common in Part 141 academies [/ QUOTE ] Should it be common practice. No, it shouldn't. I wonder why FSA doesn't do it. My guess is that they are a reputable company that understands that is how it is done. I came up with the number 400 from how many students were left out on the street at ATA. You are right, I am sure there are thousands that do it. I attend a part 141 school (UND) and every flight student has control of THEIR money. You know why, because it is theirs. You can take out money when needed and add it anytime you want to, over the phone or in person. Some students add money every week to their flight account so they can earn interest in their own savings account.I thought about doing that, but when I found out we accrue interest in our flight accounts if the balance is over $1000 I decided not to. The most I will put in my flight account is $5000 just in case something bad happens. I don't think it will happen because our money is kept away from the airport and the aerospace school. Everytime we pay it is to the business office of UND so if there ever was a problem, we wouldn't be out thousands of dollars.