Disclaimer: As I'm posting in a sponsor's section, I should clarify that 'best use' means *my* best use, not CPS
With that said, I'd like veteran's thoughts on the use of G.I. Bill for flight training. Here's my situation and where I'm leaning:
My G.I. Bill benefits expire in Dec 2010. I haven't touched it yet, so I have an estimated $36k available. If I don't use it, I lose it. I already have a PPL. I also own a quarter-share in an IFR-equipped 175, so do not need to rent for the basic single-engine land training
Previously, I've toyed with the idea of taking a few weeks vacation from work and taking an accelerated IFR and/or commercial class to get the training/ratings/experience at a nice discount. As no one in the Kansas City area was part 141 (I ask around every year or so), I expected to fly elsewhere.
While chatting with an instructor for my BFR, I learned that CPS is not only part 141 as of earlier this year, they're also VA approved as of a few months ago.
Naturally, this piqued my interest, and all sorts of ideas came to mind: CPS is about 30 minutes from here (Stanley)...
Putting it all together, I have 36k in benefits that I love to support Uncle Sam in "revitalizing the economy" via CPS. No offense to ATP or any other school, but CPS (KIXD) is a short commute away.
As I have a plane, what's the best use of the benefit dollars? IFR/Commercial sounds like a gimme, but as I crunch the numbers: there's really not much benefit financially for instructor time. The price sheet I saw listed instructors at $50 an hour, of which GI Bill would reiumburse me 60%, or $30, for a net of $20/hour after paperwork. The instructor my coworkers and partners have used is $30; a bit higher in the end, but no paperwork. The time benefit of an accelerated course would be nice, but if I could also use the GI bill for fuel (for training hours only, of course), that would be a slam dunk.
Beyond that... which courses/ratings are approved for both Part 141 and VA? Multiengine? any/all of the CFI courses?
To be fair, and put things in perspective: I'm not looking for piloting as a career. I have a decent/good paying job that I enjoy, and pilot for.. well, because we can! I would get additional ratings (IFR, commercial, ME, et cetra) to improve my skills and for the sake of flying.
Don't get me wrong, I'd jump at the chance for a part-time weekend flying gig..., but am not deluding myself into thinking this will my career.
Thoughts?
Joel