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As for me, I have requested a disbursement from my account to continue flying with my instructor at another airport. The question is will they honor these request or just deny them all. I was told by accounting that currently their is 22 request for these disbursements from students, and they will be deciding on them shortly
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If there is no financial difficulty, then a disbursement should be no decision. By closing for a month, they make money off of your payment in the form of interest or investments they in turn place that money into. The loan company also makes money off you because interest still accrues on your loan. In turn, you are losing money by sitting around waiting. This is particularly true for those who've made payments with credit cards or personal checks. Might be a tougher issue with government loans, but still. I hope you get a nice disbursement so that you can continue to fly. If - and we all hope this doesn't happen - they end up going bankrupt, your money is gone. We all watched ATA in horror. We don't want it to happen to you. I'm not trying to be argumentative. Perhaps they're on the up and up. What I know is that two of my roommates instructed at Oakland and Livermore and both know firsthand just how much the income from that business floated the Oakland campus. Like I said before, we all hope that what they're saying is the truth. We're just all very skeptical and don't want fellow aviators and jc'ers getting screwed.