How did you pay for your training

My parents are broke. So I had the pleasure of putting myself through college and flight training. I started designing websites my freshman year then moved into the car business where I was able pay for school with minimal student loans. I took out a loan to pay for flight training (ATP) because I knew I would go back to work and pay it off in a few year while I built time.

Have you thought about working for UPS? They pay about the same but will reimburse up to $3k for school a year, plus you get benefits and a schedule that works with school. $3k a year in reimbursement should get you through the first 2 years of community college in Jersey.
 
I sold my body.......But I used all that money on bus fare to the airport the first day.:whatever:

I actually got a decent job and struck a deal with my parents. PPL was 50/50. They are giving me a loan for 32,000 to finish everything through MEI. So I became a slave pretty much. Till I pay them back. I heard the economy is due to take off any day now!. So I should have them paid back soon.:sarcasm::banghead:
 
Pay as you go is going to be the best bet. The second best solution is having rich family members who don't mind investing in you with no interest.

Be extremely careful getting any kind of private loan (sallie mae, etc. etc.)...you'll owe on that for a long long long time.

I was lucky and was able to squeeze a bunch of family members for money. I still owe them quite a bit of money, but I'm not paying interest, and if I can't make a payment for whatever reason, they'll wait a couple months before sending the dogs after me...instead of sending the dogs before I miss a payment.....

Like someone else mentioned, go to the airport and see if you can get a job there where you can get an agreement that some of your wages will be aircraft/instructor rental. That'll keep your training going, and it will help you network (which is an important thing to be able to do in this business). The bonus: you don't have to ask people if they want paper or plastic...instead, you get to ask if they want 100LL or JET-A. :bandit:
 
I worked while earning my ratings. It took me longer, but I don't owe any money. Like I've said before, I don't want to owe anyone $50,000 unless it's on a mortgage.
 
I am doing what you are thinking of doing. I am only 15 and work at P&C foods. I saved up about $700 before my flight training and my parents pay for every other lesson. With this summer coming up just kick your work ethic into HIGH gear and get maybe two jobs and work a crapload. Could you work a deal with your parents like I did to mine. The thing with mine is that they could afford it but they want me to get a strong work ethic. I have always had a strong work ethic so that is not a problem. I always convinietly :) go on long cross country flights when my parents are paying. haha
 
Actually I worked for comair as a CSA, on the line at the FBO, and now as a ground instructor.

Money went to both school and airplanes.
 
Seeing how I hate taking out loans unless I have to, I paid as I went for all my ratings. I have a full time job with enough flexibility to allow me a part time CFI gig. It has taken longer than a fast paced school, but with the slow to no hiring in the early to mid 2000's, I didn't see the point in rushing into a brick wall.
 
Went to college, picked up a business degree, worked 2 jobs and took out a few loans. Spent about 3 years paying my way through. Achieved most of the ratings, then spent a year working 2 full time jobs to pay off all the debt I accumulated.

It wasn't easy, but definately obtainable.
 
I started working when I was 16. Made $8/hr. Worked 15-20 hours a week during the school year and 40 hours a week during the summers. Saved almost all of it. That was enough to pay for my private and part of my instrument.

Went to college. Parents paid a little over 1/2 my tuition (the rest was covered by scholarships). I am covering the cost of room and board by being an RA (great gig). Work full time in the summers in line service making $12/hr. I also started working 12 hours a week as an engineering tutor during the school year ($9/hr). Again, saved almost all of it. That covered the rest of my instrument and enough to build time up through my commercial single.

Now I plan on working over the summer at an engineering internship, and that should be enough to pay for my commercial multi and my CFI/II/MEI. I will graduate with zero debt and some money in my pocket.




Here are the key's:

Work hard and SAVE as much as you can. If a better job comes up, take it. The key is to always be looking for better opportunities. Be conscious about how and where you spend your money.

Have all the money saved up BEFORE you start working on your license, then fly often (2-3 times a week, or more). I know so many people who have 10,15,20 hours or so of flight training, made it up to or around solo, and just ran out of money. Guess what...none of them have ever taken up flying again. If you work for a week, make $200, and take one flight training lesson a week, it will take forever to get your private. Plus it will be so much more expensive because you will need to relearn things every week.

I would work hard, save your money, then when you have $8,000 (or whatever you responsibly budget for your private), start taking lessons. If you run out of money before you finish, it will be VERY COSTLY (time and money). Make sure you have enough money saved up before you start. If you need help making an accurate budget, let us on JC and we will help you.

Keep your flight training costs low. Two keys here. Shop around and NEGOTIATE!! Go to www.airnav.com , then type in your local airport, scroll down to airport businesses, and research EVERY flight school or FBO on the field. Check nearby airports too. By shopping around, you can save THOUSANDS of dollars on flight training. Look at aircraft cost, look at instructor cost, look at monthly dues, look at aircraft availability.

As for negotiating, this is something that gets brushed by often. At every flight school/club I have flown at (3 for airplanes, 1 for gliders), I have somehow negotiated lower costs (block rates for airplanes or instructors, cheaper/no monthly dues). They want your business. $35,000 is a LOT of money for all your licenses and ratings. Ask about block rates. Ask to talk to the owner about maybe lowering the monthly dues. You can negotiate. Let me know if you would like so tips on how to do this.

Work hard, save your money, keep looking for better job opportunities, start training once you have enough saved up, shop around for the best flight school, and negotiate. And if you can do it, DO NOT TAKE OUT A LOAN!!

Hope this helps.
 
Just a couple thoughts for you here. There are better paying jobs out there for a HS age guy. Waiting tables is one (it sucks) but you can make a good bit of cash that way and we won't discuss the *potential* tax savings. Also, I see you are in NJ...I imagine that means LOTS of warehouses. I made $12 an hour back in 1990-91 working in a big 'ole cooler warehouse...it was HARD work, but really good cash for my age and experience.

I also agree on saving a good 6-7K. If you "pay as you go" and can't pay for a couple lessons for a few weeks or a month, you are going to spend more money getting back up to speed.

Block time...I would be cautious about this. Why you ask? Well, it usually works out that you give them several thousand dollars UPFRONT and they give you a 10-15% discount on flight time and/or instruction. That is awesome and equals a good bit of savings...until....they go out of business. Then guess what? You have to get in line with all the creditors that own the planes/equipment/buildings/etc. to get your cash back. Guess what? You just may never see that money again. Flight schools come and go all the time, so be VERY careful if you want to do that. I tend to look at it as a "loan" to the school and/or FBO. Do you REALLY want to be the lender for them? Just something else to think about.
 
Stay away from loans! It is totally possible to work your way through your ratings without one. It will take longer but you will be in a much better position when you finish. You can take the fast track and end up with a huge debt and no guaranteed job or you can take your time and earn some money, then earn a rating, then stop and earn some more money, and continue that process until you are complete.

Apply for any and all scholarships you can find, even if you don't think you will get it. You'll be surprised how many other people think the same thing and don't apply, making your chances better.

Work two jobs. You won't have much of a life, but I would rather suffer for a couple of years earning money paying for ratings and staying out of debt than suffer for 10-20+ years paying off some of these loans that are floating around these days.

As unstable as this industry is you want to start out on the right foot and be money ahead with a rainy day emergency cash fund, rather than be behind the curve worrying about paying off loans while you are worrying about if you will still have a job next year.
 
I'd recommend saving up and paying as you go. My wife and I are already 25K in debt with a private loan, plus we just bought a house, so that's fun. We're both currently working two jobs each, so you do what you have to do....

Have you ever thought of going military? Even reserves or national guard? Lots of good training and money for college.
 
ozziecat35 said:
I'd recommend saving up and paying as you go. My wife and I are already 25K in debt with a private loan, plus we just bought a house, so that's fun. We're both currently working two jobs each, so you do what you have to do....

Have you ever thought of going military? Even reserves or national guard? Lots of good training and money for college.
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Military is not a option to me, No offense to anyone but I just don't see myself in the military, expecially during these times. It seems like everyone here is pro "pay as you go" which is the way I deffinetly plan on taking. I was just wondering how people payed which has been awnsered most specifically by GalexyIFE:)
 
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