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SteveC · December 2nd, 2003, 19:40

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I would recommend staying away from loans altogether if all possible. I have heard some shady operations on the key bank side of things regarding how they handled the entire ATA fiasco. Its best to stay debt free and pay as you go then you dont have a huge loan to pay off when your done with your training while your only making probationary F/O pay... The intrest is also racking up the entire time you are flying regardless of who you go with. Just best to stay debt free then the money that would go to the loan payment can go to food to fill up your stomach

just my .02 though. I think they both have their ups and downs

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I'm 100% in agreement. This is good advice. Debts and interest will eat you alive. Much, much better to work your buns off at two or three jobs while you stash enough cash for the next rating, then dive in and do it. Alternate as required. Don't be fooled, an extra year or two won't kill your job potential, and it will be so much better when you're working that low paying CFI or regional job and don't have to bear another $400, $500, $600 or more in debt every month. Think about it. Regional pay @ $20,000 per year is $1,666.67 per month gross, $1,000 take home. Subtract $500 for loan debt, $400 for an apartment, $300 for food, and see where we're going here?

December 2nd, 2003, 19:40	#7
SteveC Ameliorator Join Date: May 2003 Location: GRR Posts: 11,203	Re: Financing Training [ QUOTE ] I would recommend staying away from loans altogether if all possible. I have heard some shady operations on the key bank side of things regarding how they handled the entire ATA fiasco. Its best to stay debt free and pay as you go then you dont have a huge loan to pay off when your done with your training while your only making probationary F/O pay... The intrest is also racking up the entire time you are flying regardless of who you go with. Just best to stay debt free then the money that would go to the loan payment can go to food to fill up your stomach just my .02 though. I think they both have their ups and downs [/ QUOTE ] I'm 100% in agreement. This is good advice. Debts and interest will eat you alive. Much, much better to work your buns off at two or three jobs while you stash enough cash for the next rating, then dive in and do it. Alternate as required. Don't be fooled, an extra year or two won't kill your job potential, and it will be so much better when you're working that low paying CFI or regional job and don't have to bear another $400, $500, $600 or more in debt every month. Think about it. Regional pay @ $20,000 per year is $1,666.67 per month gross, $1,000 take home. Subtract $500 for loan debt, $400 for an apartment, $300 for food, and see where we're going here?