loan payments


New Member
I was wondering if anyone who has taken out a $50000 Key loan for the program at FSA knows what your monthly payments will approx be when you start paying back 6mo after you are finished?? I'm just trying to figure out where I stand with my finances, thanks...

Also I was wondering if anyone has looked into ATP's program for $35,999, they promise all of your ratings in only 90 days, does anyone know if there is a catch there? Something dosent look right about that to me.. I really think I want to go to FSA but that program looks worth checking out..any comments?
My loan was for 55k and the payments were about $600 a month. Later on we refinanced and the payments went to $345 a month. I have not heard anything bad about ATP, but I would not be in a hurry to get done. There is alot more to flying than just getting the hours to pass the checkride. I would be more inclined to take more time and enjoy yourself. Spend some time reading the FAR/AIM, along with whatever else you can pick up. I am also not a big fan of safety pilot time for time building during the initial ratings. I think that you should be the one flying early on. After you get your commercial/instrument it is a good way to build time . The long cross countries would be interesting though.
My Key Loan was for $60K and the payments are coming out to be about $450 per month, but I think they can be refinanced as the anonoman said. The main thing that kills us all is that hefty interest that starts accruing right away, ouch

As for ATP, I went to FSI myself and overall had a fairly positive experience but to be honest, I would look long and hard and carefully gauge the two before making a decision. If I had to do it all over again, I may well have gotten my private at a local FBO then done that $35K program at ATP, it's called the Airline Career Pilot Program.
I've heard nothing but good things about ATP, as for the intensity and speed, but might be a good prep for the way initial indoctrination and stands classes are done at the airlines. Look up posts at their forum, especially from pscraig, he started at FSI like me but left early on and went to ATP instead.
Now I haven't been there myself, but it seems if you pass the writtens on your own with help from Gleims or King courses then u can show up for 3-4 months and have a blast at ATP chocking up Seminole X-Country time coast to coast, even if a lot of it is safety pilot time it's still loggable total time.
AT FSI, u get comprehensive ground schools and lots of extras like the spatial disorientation training in the GATT and the spin training in the ZLIN, but their CIME program doesn't even include your Comm Single Engine, or any of your CFI tickets and it is liable to go well over the advertised amount if u don't stick closely to the 141 syllabus progress they expect.
I've been told ATP is very good about sticking to costs, u get tons of mutli-engine cross country time and r even liable to get some actual IFR on those long trips. And most of all is the chance to instruct there later, no long waiting list like at FSI. I was considering ATP's CFI program but they won't let grads from that program instruct at ATP.

Hope this helps.
I have a 70K loan and it has a $436 a month payment.

The good news is that I will be paying it off in full soon!
Thanks for the advice and insight guys, it helps in making a decision...
Goldeneagle what do you mean, you can't even instruct at ATP if you are a CFI grad there?
I had a loan for $57k, and my payments are $484/month.

P.S.- I'm from Rochester too (well, real close to there at least). My whole family is still there.
I mean that if you get your Private, Instrument, Commercial elsewhere and go to ATP only for the CFI ratings (like I considered doing), then in this economic/jobs climate they are not even going to really look at you for any of their own CFI jobs (too bad, that's a lot of Seminole X-Country time and I hear u can build total time up to 135 mins in around a year or two easy). They only hire ppl who have done their airline career program there, so if you are considering that program, you still have a shot at it.
At FSI, the reverse is true. You can go through the whole CIME program and fork over well over 45K in my case, but unless u also do your CFI there you won't be considered for a spot on that coveted waiting list. Only grads of the CFI program at FSI can interview with FlightSafety for a position with them.
Who did you refi with?

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Nobody yet. I'm probably going to consolidate all of my student loans into one big one and refinance that if I can. I don't know all that much about it really (even though I probably should)...I just scrape the bucket to pay the bill that keeps coming.
Only grads of the CFI program at FSI can interview with FlightSafety for a position with them.

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That's not true.

Your chances are better if you do your CFI there, but you can still interview with them.
I believe it was true when I was there. The reverse however, was not. I know a few people who were hired that just went through the CFI program only, no CIME.
Hmm, then perhaps things have changed since I completed my CIME back in May. I was told then in no uncertain terms that to interview for a CFI position with FlightSafety, I'd have to get my CFI with them first. And like eatsleepfly said, the reverse is not true, u don't have any leg up by getting your basic ratings there first then getting the CFI, aside from knowing their procedures and the flow of things.