Total amount spent on FSA after loan fees and tuition?

jonboy34

New Member
Hey, I just toured the academy last month, plan on attending next year after some more money is saved and my private is completed. I was wondering how much I will spend all together if taking a $60,000 key loan, which is what ive heard that most of you are using... any info will be appreciated, Thanks
 

Heat2151

New Member
Jon,

This is hard to answer, it all depends on personal preference,
you have to figure in what your life's style will be like.

1) Living arrangements, dorms or apartments.? Rent?
2) Automoble.?
3) Consumables? food? car expenses.?

For example: I took out the same $60,000 loan form keybank. I have a family, a car, since I will need an apartment, I expect that to go about $600 a month, so it all depends on the your need at the time. a large part of the loan will go towards my flight training plus other expenses that I need during my training, uniforms, supplies ect.

If I had to guess, you will easily spend well beyond your loan, when you compile living expenses and other personal needs.

Hope this helps.

Best Regards,
Heat2151
 

jonboy34

New Member
Heat2151,
Thank you for your input. I guess what I meant to ask was just the flight training portion. I will be coming in with a private, so to get to the CFI rating looks to be somewhere around $50 or so before the added interest on the loan repayment, but I guess I should just call the bank on this one but I figured I'd try here first. Will the total I have to pay back a $60,000 loan be somewhere way beyond $100,000 on a 20 yr repayment period, or would it be less than that, on average. If anyone could just give me a general idea Id appreciate it. Thanks
 

Heat2151

New Member
$60,000 loan from Key is $101,000 after 20 years. /ubbthreads/images/icons/crazy.gif


Legalized loan sharks, /ubbthreads/images/icons/mad.gif and the amazing thing is that, they are in a position, to get away with it.


Best Regards,
Heat2151
 
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