Please, I need help. Tips on paying for ATP

[Varig_777]

Hi guys. Please help me out with this as best as you can. For the past year and a half I have been wanting to attend ATP.

As far as I'm concerned it seems like the best flight academy out there, especially as far as multi-time goes. However, I have a problem which has stopped me from attending. Simply put: I am not rich nor do I know anybody who is!

You see, right now I am getting my PPL at a CPC FBO which, although very good and professional is not up to ATP standards...and I won't be getting any significant multi-time with them. Their only plus is that I pay per flight, which I can afford.

But ATP's block payments are FAR out of my reach. My current financial situation barely allows me to pay for 2 flights per week....nevermind 5,000 or 8,000 at a time!

I have decided to do the following: Finish my PPL at the flight school I am at right now. Continue college in the fall and finish my degree in 2 years.

Then, after I have my 4 year degree I will go back and finish getting all my ratings. Preferebly at ATP.

But, like I said before I am not rich! I do not have enough credit to get a loan-believe me I've tried- and I don't know anybody who does have enough credit...tried that too!

It seems that Key Bank and Sallie Mae only give loans to those who don't need it: if you have loads of money in the bank, a nice big house, a nice expenisve car etc....then you get a loan. Otherwise you are SOL! Makes no sense to me, but I digress....

Ok, this is where I need all the help I can get. Please give me any and ALL tips you can on how to possibly secure a loan for ATP, pay for ATP, or any combination of that.

Right now the only thing I can think of is saving money for the next 2 years, but that would mean I would have to save 20,000 a year to have 40,000 within 2 years! And for somebody attending college with other expenses on top of that...saving 20,000 a year is almost impossible.

So please help me out in any way you can on how I can go about attending ATP, as that is where I really want to be. If I atleast KNEW somebody who could Co-sign for me I could get them removed after 24 payments...but I don't even KNOW anybody that could co-sign.

What would you guys say I could do as far as loans and payments go. Please give me any advice you can...nothing would sound stupid or impossible! Give me all your good ideas! Thank you!

[Tram]

Call 800-255-2877 and ask to talk to someone about financing options.

[Varig_777]

[ QUOTE ]
Call 800-255-2877 and ask to talk to someone about financing options.

[/ QUOTE ]

Thanks Tram! But wouldn't they just refer me back to Key Bank or Sallie Mae? Or would they suggest other alternatives? Thanks again!

[Tram]

I dunno. I wish I did..

[SIUav8er]

Join the military! I have a freind that joined the Army Reserve just to get help paying for college.

[Tram]

ATP doesn't do VA bennies...

[SIUav8er]

Yeah, I guess he'd have to look at a 141 flight school for VA bennefits, but at least he'd get the flight training, albeit probly not at ATP.

[Pavetech]

joining the army reserve will get you sent to Iraq faster than you can say 1.2.3.

[SIUav8er]

True, nothing in life is free.

[Varig_777]

Yeah, the military is out of the question for me. I have nothing against those who serve in the military, infact I respect them greatly and admire the institution itself, but military life is just not for me.

I wish that getting a loan wasn't so damn hard. I mean, isn't the whole purpose of loans to help those who can't afford to pay out of pocket for something?

Yet Salli Mae and Key Bank seem like they cater only to those who can afford it, but choose either not to, or their parents won't take 40,000 out of their 300,000 a year salary to help their kids so they make them get a loan with their name as the co-signer.

But either then that, is there any programs, funds, or something that I could do which would help me pay for ATP? If not, then I will have to go ahead and just get all my ratings at my FBO....which I would be happy about just the same, don't get me wrong. But I understand the level of training that I could get at ATP, and I want to be where the best are....I've always been like that

[xavier0002]

In some ways i know how you feel. It was very difficult for me to get a loan secured because i don't have either money or know anybody with loads of money. I had to put myself through college and had to borrow a lot to do it ( as well as what i am borrowing now in order to go to ATP) I understand your predicament, But all i can say hang in there and something will come your way. Look at it this way if you can, you still have two years of college, that is enough time to finish your private pilot and build credit. If you have a bad one try to fix it. Study as much as you can about aviation, so when the time comes you can make the best out of it. Also, look at websites and organisations that provide students with scholarships... I know is hard but hang in there, one way or another you will make it

best of luck

[LostComm]

Yeah, the military is out of the question for me. I have nothing against those who serve in the military, infact I respect them greatly and admire the institution itself, but military life is just not for me.



It's not for anybody until you get there.

[SteveC]

[ QUOTE ]
I wish that getting a loan wasn't so damn hard. I mean, isn't the whole purpose of loans to help those who can't afford to pay out of pocket for something?

[/ QUOTE ]
The whole purpose of loans is to make money for the lending institution. The purpose of a loan is not to help you learn to fly, or buy a car, or a house. Loans trade your future earnings for the instant gratification of getting something now that you can't afford.

Pay-as-you-go whenever possible.

[ QUOTE ]
...If not, then I will have to go ahead and just get all my ratings at my FBO....which I would be happy about just the same, don't get me wrong. But I understand the level of training that I could get at ATP, and I want to be where the best are....I've always been like that

[/ QUOTE ]

You've been reading the brochures again, haven't you?

[Merlin]

Have you actually called ATP and talked to Diane to see if you do or dont qualify for a loan? Just because you looked on Key Bank web site, doesnt mean Diane can't help. CALL HER.

If she says no, then you are stuck with the pay as you go FBO, and, given that you seem like a relatively young guy, isnt the worst deal around.

But you wont know for sure if you dont call her and given your recent posts, it doesnt seem like you've exhausted this option.

Credit is credit. For example, if you can't get a credit card, you probably wont get a KEY loan. But you dont have to have collateral to get that loan. Get a cosigner such as your parents, who also doent have to be rich. They simply have to have decent credit.

To take a quick issue with your idea that only the "rich" get loans... Im not rich, nor are MOST of the people who I went through the program with as a student or as an ATP instructor and whining about others getting loans while you cant isnt very productive.

Good luck
Jeremy

[project7]

[ QUOTE ]
but that would mean I would have to save 20,000 a year to have 40,000 within 2 years! And for somebody attending college with other expenses on top of that...saving 20,000 a year is almost impossible.



[/ QUOTE ]

Well, you could yourself out to a thousand women for $40 a pop.

[Pavetech]

this is the best alternative i've ever heard.

[lookingdown]

[ QUOTE ]
Hi guys. Please help me out with this as best as you can. For the past year and a half I have been wanting to attend ATP.

As far as I'm concerned it seems like the best flight academy out there, especially as far as multi-time goes. However, I have a problem which has stopped me from attending. Simply put: I am not rich nor do I know anybody who is!

You see, right now I am getting my PPL at a CPC FBO which, although very good and professional is not up to ATP standards...and I won't be getting any significant multi-time with them. Their only plus is that I pay per flight, which I can afford.

But ATP's block payments are FAR out of my reach. My current financial situation barely allows me to pay for 2 flights per week....nevermind 5,000 or 8,000 at a time!

I have decided to do the following: Finish my PPL at the flight school I am at right now. Continue college in the fall and finish my degree in 2 years.

Then, after I have my 4 year degree I will go back and finish getting all my ratings. Preferebly at ATP.

But, like I said before I am not rich! I do not have enough credit to get a loan-believe me I've tried- and I don't know anybody who does have enough credit...tried that too!

It seems that Key Bank and Sallie Mae only give loans to those who don't need it: if you have loads of money in the bank, a nice big house, a nice expenisve car etc....then you get a loan. Otherwise you are SOL! Makes no sense to me, but I digress....

Ok, this is where I need all the help I can get. Please give me any and ALL tips you can on how to possibly secure a loan for ATP, pay for ATP, or any combination of that.

Right now the only thing I can think of is saving money for the next 2 years, but that would mean I would have to save 20,000 a year to have 40,000 within 2 years! And for somebody attending college with other expenses on top of that...saving 20,000 a year is almost impossible.

So please help me out in any way you can on how I can go about attending ATP, as that is where I really want to be. If I atleast KNEW somebody who could Co-sign for me I could get them removed after 24 payments...but I don't even KNOW anybody that could co-sign.

What would you guys say I could do as far as loans and payments go. Please give me any advice you can...nothing would sound stupid or impossible! Give me all your good ideas! Thank you!

[/ QUOTE ]

You live in two countries? If Brazil is your home, that may be part of the reason you cannot get a Sallie Mae or Key loan.

If you are indeed in college, you are young enough to take a few extra years to get to the airlines. Slow down, you do not have to go to ATP. There are lots of pilots who have never darkened the doorstep of an ATP facility and they are doing just fine.

The most obvious solution, is to transfer to a college with an aviation program. The student loan department will work with you regarding the increased costs. If you are in a state school in Texas, many of the credits you have earned will transfer with you to the next state school you attend. If your school has an aviation program, just transfer into it.

Look at scholarships in both Brazil and the States. You may be able to find help through those.

And if you want it bad it enough, and you are qualified, you will serve in the military. Who cares if you like the "lifestyle." I am not thrilled with my 12 year old car, three roommates and regarding bologna as a food group. But you know what, I am doing it. I would guess 85% of the student pilots on this board have given up something to be "on the path." We gave up nice cars and apartments. We gave up social lives. We moved away from our families. Our husbands, wives, boyfriend and girlfriends work extra shifts. Our parents took out loans on their homes. We left good paying jobs. We live just above the poverty line.

If you really want it, you will go and get it. It sounds like you are waiting for somebody to hand you the answer. That just will not happen.

Get a job, finish school, fly when you can. You will get where you want to go.

[whaleroast]

[ QUOTE ]
[ QUOTE ]
but that would mean I would have to save 20,000 a year to have 40,000 within 2 years! And for somebody attending college with other expenses on top of that...saving 20,000 a year is almost impossible.



[/ QUOTE ]

Well, you could yourself out to a thousand women for $40 a pop.

[/ QUOTE ]


You can start with this one. I think she's looking for someone special.
http://xo.typepad.com/blog/images/piercings.jpg

[SmitteyB]

That's right, if you're not a US Citizen, you NEED a cosigner, period. Keep looking, good luck. Look at local credit unions and banks....low low low low low interest rates...if you only get $20,000, then work and go to to a local FBO, get off the ATP bandwagon...all of our tickets are the same...then if you have to...get multi time somewhere else. I know what I'm saying is making you mad because you want to go to ATP, but this is what everyone told me when I first came here. Good luck.

[MCP]

What may hold you back is that you are still in college, and a I'm guessing, may not have a very long credit history. Stick in there and ride it out through college. After that, apply and see what you can get, you may be pleasantly suprised.

[Mariano]

[ QUOTE ]
Yeah, the military is out of the question for me. I have nothing against those who serve in the military, infact I respect them greatly and admire the institution itself, but military life is just not for me.

[/ QUOTE ]

If you are a permanent resident of the U.S. ( Green Card holder ), and join the active duty armed forces, you'll get your citizenship after serving for one year. That means that after a two or a three years enlistment not only will you eligible for VA benefits but also being a US citizen you could apply for a loan with a private lender without a co-signer.
The military life might not be for you, but if you really want something that bad, IMHO you should be willing to do some sacrifices, specially when your options are so limited.
If you join the Navy or the Air Force, you would have an opportunity to travel or even live in cool places like Guam, Japan, Italy or Korea ( if you join the Air Force).
If you decide on the Army I'm sure you will get also to travel, but well, we all know where you'll be going , not a good touristic destination right now.
Not to mention that you will also be serving and doing a service to your adopted Country.
Bottom line: since it looks that your financial resources are limited and your chances of getting financial aid are even worse, the Military is something that could help you a lot at getting your goals. So rethink your statement above, take control of your life and do whatever it takes, if you want to be a pilot so bad.