OK folks let's not call each other fools, the mod team has addressed this kid...
Alright. I'll try to help you out a little. I went through ATP back in 2008. I actually finished around the time all the hiring stopped. Here is what I think of the program and what it is like having this loan payment as a first year FO.
The program is actually a very good program. I know that it is very structured now, it wasn't back in 2008. The program really comes down to the quality of the instructor that your are assigned to. If you have a good instructor the program is great. If you get an instructor that only cares about building hours it isn't so great.
The killer is the amount of debt that you finish with. I was hired on Feb 28th, 2011 with Pinnacle Airlines. My W2 will show around 24,000 in income before taxes. My loan payment is 600 a month. I spent 7200 just servicing my student loan this year. If that doesn't put it in perspective I'm not sure what will.
The only reason I have been able to make it work is because I am married to a great women that works very hard. If you have any questions PM me. I'll answer whatever I can. My biggest advice would be if you can do this without the debt, do it!!
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how would you like one across the lips. it's clearly in the atp flight school. so why would someone leave a comment if they have not been there
<we do not call our fellow members fool-Bumblebee>.
... and you failed to mention that Pinnacle is on the verge of bankruptcy and if you're lucky, you'll upgrade in ~5 years..
Apologies. Just a little frustrated.
or asking how would you like one across the lips...how would you like one across the lips. it's clearly in the atp flight school. so why would someone leave a comment if they have not been there fool.
Yeah well I left that part out because it wasn't part of his question.
If you haven't made up your mind here is my 2 cents. I went through ATP in 2008 and Loved the experience! Sure it is expensive but as a older individual that wanted to change careers and get it done, there was no better option for me. In order to work throug the debt I remain a college student taking 6 credit hours a semester which allows me to deffer my loan and I am close to finishing my degree. For now I work at Flight Safety International and I have an interview in Feb. at Express Jet. Look down the road and try and figure out where you wan to be and how quick you wantto get there. If you have time and are not in a hurry to finish would go to Flight Safety Academy in Vero Beach, FL. After completion there you can become a flight instructor and build you time or go get typed in an airctft as an intern in one of ther facilities. ATP is great for what it does, it gets you done quickly with a good amount of multi time. Good luck in your quest I hope this helps.
I maxed my 70g note in early06... paid 12g against interest in 06, before the note came due I owed another 32g... paid that off ( with aviation income) before it amortized six months after graduating university in April of 10... If that helps
Hank - if you don't mind sharing further - by deferring your loan as long as you have, how bad is the interest load on that note?
Actually not as bad as you would think. I got a student loan at 4.3% so anually I accrew approx $2,400 per year I choose to defer. I nenver said it was a great option, however, it has allowed me to finish college, get a job, and essentially put myself in a position to begin payments on my loan. I just received my letter to begin payments in june which will be $460 per month. There are still good rates out there but you have to find them and yes when the payments are done I will have spent doubble on what the school origionally cost but I wanted to be a pilot. 16% is increadibly high. ATP now qualifies for many different types of student loans now that their program meshes with an actual college. If you are military all flight training is now covered 100% as long as you attend a part 141 school as well. Don't be scared of the price tag be creative and find a way if it's your dream.