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Originally Posted by rjordan85  I got a phone call from ATP today telling me that i should look elsewhere (SLM) for financing my training. Supposedly TERI Loans who holds the promisary note for the Wachovia Loans, went bankrupt. This throws a wrench in my plans. I dont have a co signer and SLM are some stingy bastards. I only got approved for $5,000 thru them (what the heck is that gonna do for me) where Wachovia approved me for $75,000. I talked to the guy at Wachovia and he said they should have their loans available again by mid-end of May. Does this mess up anyone elses plans? any recommendations to what i should do/other options? Thanks
Ryan |
Sorry to hear about your issues. For what it's worth, the financing hurdle, in my opinion, is the hardest part of the ATP program. Shooting an ILS down to minimums has got nothing on the trials and tribulations of dealing with a provider like SLM. Just hang in there, stay focused on your final goal, and things will work out.
Remember, using SLM to finance 100% of the cost may not be the best way to approach it, it's just one of the more common methods. Everyone's finance situation is totally different. Out of the 15 or so guys I was at KRAL with, I don't think any of us had the same financing method. One ACPP'er even had a an airline pilot sponsor/donate, with some minor stipulations, the cost of his entire program. Keep in mind that ATP will still be there in a few months, so hold your course and continue to do your research on how to pay for the program. In the end, if it doesn't work out, there are a good number of other places to go train for a lot less money.
Just my two cents....