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JDMcFly · November 18th, 2003, 13:26

I think it's pretty much on a case-by-case basis. You can't say "don't get a loan", for each his own. What may have worked for you, may or may not work for others.

I personally do not want to wait until I am thirty years old to get into aviation. I don't want to spend the next 15 years as I have the last 15 just talking about what I'd like to do, and not doing it.

Sure, flying as you go with an FBO can work, but well be just as expensive (if not more so) than quicker routes (whether that route be through an FBO or not).

Would you suggest the same thing about College? I doubt it! I have to pay for college my self, that's a '0' in the parent financial support box. I can thank federal and state grants to help me pay for most of college, and any subsidized loans I would be using for college would be very small.

I can venture to say with great confidence that the loan money I would be taking out for actual flight training would be less than many are spending on college alone.

Anyways, what I'm trying to say is, with loans, I'm not going to be oweing any more than many university-goers will be oweing. I don't care. Will I try to save as much money as I can? Sure! I'd never get through college or flight training without them, though.

Some people don't mind taking 20-50 thousand out in loans. Debt is only a problem if you let it be. Yes, it will make life rougher, but it's life baby. I'd rather have something going on good in my life to go with that bad, than eating a pile of mud just dreaming of what could be.

Bad CREDIT will eat you alive.. Just don't let that happen (make the relatively measily payments of 40 dollars a month if you have to for a year), and you should be alright. I know what having bad credit can do to you, it's not pretty. I also know paying of student loans (college atleast) is one of the best things you can do for bad credit. You can be 200k in debt, but still have great credit. Good and/or great credit will make life much easier on you.

Note: I'm not advising anyone that taking out loans is the best thing to do, just that they can be a very useful tool if handled properly.

November 18th, 2003, 13:26	#13
JDMcFly Old Skool Join Date: Apr 2003 Location: New York Posts: 1,738	Re: What to do when loan is denied? I think it's pretty much on a case-by-case basis. You can't say "don't get a loan", for each his own. What may have worked for you, may or may not work for others. I personally do not want to wait until I am thirty years old to get into aviation. I don't want to spend the next 15 years as I have the last 15 just talking about what I'd like to do, and not doing it. Sure, flying as you go with an FBO can work, but well be just as expensive (if not more so) than quicker routes (whether that route be through an FBO or not). Would you suggest the same thing about College? I doubt it! I have to pay for college my self, that's a '0' in the parent financial support box. I can thank federal and state grants to help me pay for most of college, and any subsidized loans I would be using for college would be very small. I can venture to say with great confidence that the loan money I would be taking out for actual flight training would be less than many are spending on college alone. Anyways, what I'm trying to say is, with loans, I'm not going to be oweing any more than many university-goers will be oweing. I don't care. Will I try to save as much money as I can? Sure! I'd never get through college or flight training without them, though. Some people don't mind taking 20-50 thousand out in loans. Debt is only a problem if you let it be. Yes, it will make life rougher, but it's life baby. I'd rather have something going on good in my life to go with that bad, than eating a pile of mud just dreaming of what could be. Bad CREDIT will eat you alive.. Just don't let that happen (make the relatively measily payments of 40 dollars a month if you have to for a year), and you should be alright. I know what having bad credit can do to you, it's not pretty. I also know paying of student loans (college atleast) is one of the best things you can do for bad credit. You can be 200k in debt, but still have great credit. Good and/or great credit will make life much easier on you. Note: I'm not advising anyone that taking out loans is the best thing to do, just that they can be a very useful tool if handled properly.