Jetcareers - View Single Post - Do it now and borrow

Flying Ninja · July 18th, 2007, 12:06

My advice is to save your money and pay for your training in cash. Don't borrow. A year ago I started my pay back at $101,819.82. Today, my balance is at $97,065.15. That included a couple of extra payments against the principle. But otherwise, my monthly is $982.69 at a variable rate of 8.5% over the next 14 years (15 year loan). Today I'm just struggling to work and pay this loan off. No airline job. And I barely have enough money to fly a single piston to stay current.

Moral of the story, save your money, don't go to a flight school like CAPT, and think if you really want to drop all that money with the possibility of not getting a job at the end.

July 18th, 2007, 12:06	#13
Flying Ninja Junior Member Join Date: Feb 2006 Location: NY Posts: 129	Re: Do it now and borrow - or save for salary sorrow? My advice is to save your money and pay for your training in cash. Don't borrow. A year ago I started my pay back at $101,819.82. Today, my balance is at $97,065.15. That included a couple of extra payments against the principle. But otherwise, my monthly is $982.69 at a variable rate of 8.5% over the next 14 years (15 year loan). Today I'm just struggling to work and pay this loan off. No airline job. And I barely have enough money to fly a single piston to stay current. Moral of the story, save your money, don't go to a flight school like CAPT, and think if you really want to drop all that money with the possibility of not getting a job at the end. __________________ Graduated CAPT 10/2005 - Summa Cum Laude, Highest Time (459TT/101ME) of any graduate! No Job, Big Debt! Tip: Stay away from CAPT!