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Old December 3rd, 2003, 08:21   #12
ready2fly
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Join Date: Nov 2001
Location: DFW
Posts: 7,993
Default Re: Financing Training

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Hey ready2fly, was your FBO part 141?

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Ryan, nope. It's Part 61.

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Also are the Sallie Mae loans deferred? The only places I could find to let me get a loan for my FBO would only defer the prinicpal and not the interest.. which I can afford right now myself.

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I think (read "not sure") that the Sallie Mae loans are the same way. I think you can defer the principal only. I remember being offered "interest only" payments.

I think (again - "not sure") that you can only defer if you are (a) in school full time, (b) in the military, or (c) declare a hardship.

But, I wouldn't bank on that. We started paying on both the principal and the interest right away.

Best of luck!!

R2F
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