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Originally Posted by JA Yawd Bwoy  Not to veer off course but what is the average cost (speciffically in the Northeast if possible) for the individually
PPL-?
Intrument-?
Commercial-?
Multi-?
CFI-?
CFII-?
MEI-?
Oh and I notice everyone has said pay as you go, but to me it is not that easy makin 7.15 a hour to pay as I go, does it hurt to say take atleast say a 15K loan? with a 10% loan that is 16,500$, is that a bad scenario? Please don't attack I am just trying to figure out how these Loan Companies work, and like aviatorrbt, find out which one is the best if there is a best  |
I can't give you actual costs for any but the private. I spent roughly 10k, which is very high. I think it can be had for around 6-8 if you find a small place that flies a 152. I chose a small place but they fly out of a controlled field so they have alot of fees smaller places don't have, plus they fly 172's and have lifetime instructors who make more than the wet CFI.
The prices I have been quoted for the instrument is roughly the same as PPL, 6-8K. Commercial I am told is more expensive since you have to take it in a complex aircraft. This could be wrong, I am new like you, hopefully others will chime in. Multi can be had for 2-5K depending on how many hours you need or want.
After that I think the best bet is to get a job at the FBO and get a nice discount on the instructor ratings.
On the issue of loans, do not be too stressed out. I think at most I will have 30k in loans. If I use the Wachovia program it is roughly $50 for every 5K borrowed. So 30 will net me a 300 a month payment. That may sound like a lot but think of all the Embry riddle kids who are 150k in debt or the people who spent 80k on a pilot shop. It may not be comfortable the first year, but it is certainly manageable.
Think of it as an investment in yourself. An investment that is extremely fun!