How much money should I use for flight training?

Boris Badenov said:
Are...? Dischargable? I have no idea, but it should be fairly clear provided our young Jedi reads the terms of his putative loan.
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There are a number of requirements for a loan to be exempt from discharge, which includes school accreditation that few flight schools have. It's more complicated than I'd ever want to deal with. I can barely manage 20 credit cards.
 
Based on you guys' replies, going this route would probably not be the wisest idea, so I just thought of 2 other things I could do:

Perhaps I could pursue a loan still, but instead of relying on a loan to get up to commercial and multi engine ratings, maybe I can just use a loan to get my private pilot license and instrument. After I get my instrument rating, I can move on going to a university that offers aviation degrees(I'm going to a community college now). I will just study geology as a backup and to have a four year degree as most airlines require.

Or I can enlist in the Air Force Active Duty. While in the Air Force, I will be paid a little more to afford flight lessons while simultaneously going to college and finishing it all hopefully in under 10 years or by whenever my enlistment contract is done.
 
inspiringpilot96 said:
Why have a side job?
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Unless you have a wealthy family that's willing to support you, then you'll need some method by which to pay for the "boring" things like food, shelter, clothing, etc.

inspiringpilot96 said:
But I eventually want to get into the major airlines so wouldn't I be able to pay it all over time?
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First, getting to the majors isn't a guarantee. Second, the flying jobs you'll have in the meantime aren't exactly high paying. Third, creditors aren't going to wait until you get a nice paying flying job before they get thier money. You may be able to defer repayment, but not for very long. You must figure out how to make ends meet

For my purposes, I've based my budget on making no more than $30K per year for, well, the rest of my life. I subtract from that living expenses, then I have a better picture of what I can afford loan wise. I'm also fortunate that I have family support as a safety net. It's my financial butt on the line, no one else.

It's ok to get a loan. The important thing to realize is that not only will you have to pay it back (with likely double-digit interest), but it will also be a large portion of your budget for a very long time. Don't count on a high paying job at the majors to save you financially.
 
I feel like there's a sticky (or should be) which deals with this. Do not go in to military service because you want to be an airline pilot. There are a billion threads on this (use the search function), but moral arguments aside (you know, serve because you want to be an upstanding dude, or whatever), you're rolling the dice in a BIG way there, too. I'll leave it to the military pilots to explain further, but the long and short as I understand it is you're signing up for 99% The Military and 1% Airplanes. I do think that it's wise to study something else you'd actually conceive of doing as a "backup", so good call. If you go the civilian route, though, the time to put yourself in hoc to the Banksters is after you have flown an airplane a bit, passed the medical, and determined that, yes, this is for you. Gather up a grand. Seems like a lot, I'm sure, but when you're talking about dropping 150x a grand, it's a reasonable request. Your money, go out and earn it. Then spend it on learning how to fly an airplane. If you spend that grand and you feel like it's money well spent, great. Bon chance, mon ami. But do not linger in the fantasy. Again, we're talking about the rest of your life, here. Earn a grand and spend it doing turns around a point. If the Magic lingers, come join us all in the land of hotel points.
 
inspiringpilot96 said:
I can move on going to a university that offers aviation degrees(I'm going to a community college now). I will just study geology as a backup and to have a four year degree as most airlines require.
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We are just a bunch of guys on the internet. I would suggest talking to an adviser at your college, or one at an aviation college or even a local financial adviser out of the phone book. You'll be surprised what the barriers to entry are and what the timeline is in this industry before you're able to earn enough income to pay off a student loan of $150,000-$200,000 or more.
 
Boris Badenov said:
^ He's right, you know. Talk to someone who can give a clear picture. We're all oxygen deprived.
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Ya know, I don't get to drink enough beer with you...So, let me take this opportunity to tell you how much of a difference you make just by typing on your computer in your underwear.
You called the play that won me the current game, and you continue to take the the time with every wayward soul that stumbles upon this site.
You exemplify the code of this site, pay it forward, and for that I joyfully fart in your general direction.
Well done sir. I tap "Like".
 
bucksmith said:
Ya know, I don't get to drink enough beer with you...So, let me take this opportunity to tell you how much of a difference you make just by typing on your computer in your underwear.
You called the play that won me the current game, and you continue to take the the time with every wayward soul that stumbles upon this site.
You exemplify the code of this site, pay it forward, and for that I joyfully fart in your general direction.
Well done sir. I tap "Like".
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Yeah, but he's short and also I'm pretty sure there's a portrait of him growing older in an attic somewhere in Kentucky.
 
Roger Roger said:
Yeah, but he's short and also I'm pretty sure there's a portrait of him growing older in an attic somewhere in Kentucky.
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When I was born, 5'10 was normal height for a male of European extraction. Granted that was when God was a child. I fit through doorways pretty good, though. Can almost stand up in a Hawker. I like to think of my size as "efficient".
 
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bucksmith said:
and for that I joyfully fart in your general direction.
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FECHE LA VACHE!? QUOI? FETCH THE COW!
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Your farts are joyfully returned, sir.
 
Boris Badenov said:
When I was born, 5'10 was normal height for a male of European extraction. Granted that was when God was a child. I fit through doorways pretty good, though. Can almost stand up in a Hawker. I like to think of my size as "efficient".
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All I can say is, the steady diet of bourbon, black coffee, and fbo cookies/popcorn has been good to you.
 
Get a job that allows you a good amount of time off ( flight attendant worked for me). Go base some place where the weather would be good for a large chunk of the year. Save up. Once you have enough money for the rating go for it one by one and try to knock it out within couple months. If unpaid time off can be had for a month take it and get that month out to knock one rating out at a time. Do not start taking flight lessons unless you have enough money and good weather to knock it out in one round ( can be definied as a few months but generally good idea not to let it drag on.)

It would also be best not to quit your job. Going to be a long road till you get to the point where you have decent job prospects.

Do not get yourself in huge debt. Well, I guess, it depends on how much risk you want to take. There is no guarantee in life. I have been around long enough that I believe in trying your best not to back yourself in a corner. Being broke and in debt can make you more susceptible to doing stuff that does not serve you well long term in your career such as flying unairworthy airplanes or being pushed around by the company. That pilot pushing culture is still alive and well, and the only way to go around it is to be financially secure enough to not be desperate for a flying job, and to feel no need to stay in a flying job if it turns bad.

Don't need to get your CFI right away. There are commercial pilot jobs that do not require that. Drop skydivers till you hit about 500 then look for a job in the right seat flying commuter airline. Good to get a cfi, but no need to break the bank if you can't afford it right off the bat.

If you want to quit your job I would only advise doing that upon having a commercial license.

It really is a long road till you get decent pay and QOL , a few bumps on the way as well. Don't overextend yourself from the get go.

If you want to take a loan I understand, after all nobody wants to miss the opportunities in the next couple year. There is going to be so much demand. Just do whatever you can to minimize the damage.
 
Private in the smallest cheapest plane possible like the cessna 150 would run you around 11000.

Instrument rating in a 172 would probably cost you 14000

Commercial single engine 7500

Multi rating 5000

I do not have CFI rating so somebody else should chime in.

Your mileage will vary depending on school and equipment. My take would be not to go for "brand name". Pick a school that maintains their planes well and can get you on the schedule, a CFI that has availability and teaches because they want to teach rather than just want to build hours. Your training is your foundation for the rest of your career, so have someone who knows their stuff teach you, not a newly minted CFI. Does not matter how good you are, at 400 hours total what do you know? Not enough to be the best teacher in my opinion.

And no need to go for glass cockpit brand new Cirrus. You can use simulator to get used to glass cockpit when the time comes at lower cost.

Would not advise aviation degree. Get a degree that can also be your back up plan. The industry can be unstable, and you want to have options. Some pilots I talked to who did not suffer way too much back in 2007-8 during furlough were those who A. Are willing to move abroad ( Vietnam, China, Gulf countries, etc) for a job and sign 3 -5 years training bond or B. Those who have degrees- qualifications that can generate reliable income like accounting.
 
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