Need a cosigner

USRaven

USRaven

Well-Known Member
They say it never hurts to ask!

I am an 8yr veteran of the USAF with the GI bill, and want to attend ATP in Panama City between Feb and May 2010. I am trying to earn my CFI,II, and MEI ratings. I am a CAP pilot currently with 80 hours, and hope to continue flying with CAP as an instructor/mission pilot. I also want to CFI part time on the side, while I continue to work as an avionics technician full time, and work toward my A&P.

I will continue to work on my own to make this happen, but if you are feeling generous and wouldn't mind cosigning...

My wife is a new attorney in Tampa, and is unable to cosign due to an enormous amount of student loans herself. We are a newlywed couple in search of a boost. We have no car payments, no debt, nothing beyond our normal monthly living expenses. (my wife wanted to add that in there!)

Thanks, and safe flying.
 
Have you really thought long and hard about the idea of going into debt to pursue ratings in a field with substantial numbers of unemployed pilots? Not trying to rain on your parade here at all but asking critical questions to gauge the thought process behind going into debt to pursue a flying career. A law degree, medical degree offer some hope for future payback and the risk/reward for taking on that debt is much different. Also, what are the prospects for repayment? That will be a good thing to add as you search for a co-signer. Do you have a job lined up once the ratings are complete to instruct, or will you join the ranks of CFI's looking for their first job? Have you considered the idea of perhaps getting your ratings at an FBO, both for lower cost and potential job opportunities later? Will ATP hire you, or will you then take your CFI,II,MEI from ATP and try to work at an FBO who probably would place a greater emphasis on hiring someone that actually trained there and not at a pilot mill?

Again, not trying to rain on your parade, but what is the long-term plan other than becoming a CFI and looking for work? (And I understand your wife is an attorney, but there is risk with that - what if she loses her job? What if she decides she no longer wants to be married? What recourse is there for the co-signer at that point - will she be a named co-borrower as well (mitigates the divorce issue somewhat) or will it just be you?)
 
What type of law does your wife practice? We should hang out - my wife is an immigration lawyer in Tampa, and we live in St. Pete.
 
I don't see why you wouldnt go ahead and get your I's. At the moment it is cheap enough and it is only going to open you up to more employment opprotunities. You never know what may open up and you can make that 5 or 6k back fairly quick.
 
USRaven said:
They say it never hurts to ask!

I am an 8yr veteran of the USAF with the GI bill, and want to attend ATP in Panama City between Feb and May 2010. I am trying to earn my CFI,II, and MEI ratings.......

Thanks, and safe flying.
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If you have the GI Bill and are just going to do your Instructor ratings, why would you need a cosigner? I was under the impression that you could now use the GI Bill at ATP. The instructor ratings are nowhere near the cost of the instructor ratings. My GI Bill was almost 14K and I separated in 1993.
 
I don't think you really want to be going into debt for this. None of the instructor ratings really cost all that much anyway. If you can't afford or figure out how to pay for it now, you probably won't be able to cover the debt (and interest) in the future.

At 80 hours (if I read your post correctly), most of the expense you are looking at is logging the 170 hours you are still going to need. You mention CAP - most of the 172's are renting for all of $28/hour around here dry. Fly to the cheapest gas at 45% power. Find someone to split the cost (you probably need the hood time anyway).
 
I just have one dumb question.

Are you posting this thread for the purposes of seeking a co-signer through JC?
 
Doesn't the "New" GI Bill pay for nearly 100% if you go for a degree seeking program. If you were to go to college and get an aviation related degree and get your instructor ratings as part of that degree.... just thinking:D (No flames guys, just throwing out an option)
 
PropDriver said:
Do you still need to get your commercial, multi, and/or instrument?
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With 80 hours he probably needs everything besides his Private.

To the OP, ATP will call you everyday until you decide to pull the trigger and go into debt for flight training. I have a student who simply asked for an information packet from ATP and they will not leave him alone. They call him almost everyday. I am sure they are doing the same to you. Don't take the bait and signup just because a good salesman is calling you. ATP has the a great sales department and they don't quit until you put down your deposit. As some others have said, don't take on a flight training loan. Get your degree and do your flying on the side. :soapbox:
 
Sigh... I was at a peak of desperation while writing this post earlier this morning. I am at a crossroads in my life AGAIN, and didn't quite know what I am going to do once I leave active duty USAF Reserve orders in February. ***I didn't really think someone was gonna say - "HEY, SURE I'LL COSIGN FOR YA GOOD BUDDY!", but in spirit, I threw it out there. I've been on the fence about starting my own business come Feb, VS. working at a 3rd party maintenance shop like PEMCO fixing avionics. I might get what, 18-22 bucks an hour? Well, that doesn't pay for a lot of hobby flying and hundred dollar hamburgers.

In fact, after I posted that, I was able to bend the ear of a self made millionaire on the phone (recently married into my family). The company he started was bought out by Warren Buffet... so I respected his advice. He told me to not fear self employment as long as I was ready for hard work and dedication. He reminded me something I painfully already know and have a struggle to admit; flying is a hobby and an expensive hobby. He is a pilot himself, and didn't say to quit flying, but warned against throwing my money into a pit which it will never return. We ALL know well that flying is barely profitable nowadays.

---That being said, my wife and I decided that I am going to startup a business doing pressure washing. For now, we will start small with equally small goals, and work as a second income... but fully intend to move to a primary income if business picks up. I will hold off obtaining my CFI, CFII, and MEI (yes, I also need my commercial) until I can pay for it in cash. --AL UELSCHI is a role model for me, he started FLIGHT SAFETY INTERNATIONAL. read about him!!!

guywhoflies said:
With 80 hours he probably needs everything besides his Private.

To the OP, ATP will call you everyday until you decide to pull the trigger and go into debt for flight training. I have a student who simply asked for an information packet from ATP and they will not leave him alone. They call him almost everyday. I am sure they are doing the same to you. Don't take the bait and signup just because a good salesman is calling you. ATP has the a great sales department and they don't quit until you put down your deposit. As some others have said, don't take on a flight training loan. Get your degree and do your flying on the side. :soapbox:
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I am close to my Professional Aeronautics degree (1.5 years or so away). I also am 2 classes from an associates in meteorology and avionics technology. However, none of the colleges that are approved under the new chapter 33 GI BILL are close to me on the west coast (of FL). I promised my wife I will not leave home for any amount of time to chase dreams. I promised to not screw this marriage up (I did the last one with overseas contracting).


:bandit: Bobby
 
I still plan on flying as much as possible. I am going to continue to pursue my ratings, and furthur fuel my flying passion. I am now on 5 people that have gone up with me who have never been in a small plane otherwise, and who have never controlled an aircraft before me. 4 of those people were left with one of the best feelings ever. I was way proud to give them that same feeling I had when I started. And that to me is what it's all about. I want to be a teacher and a mentor.

I also love the weather. I was a meteorologist in the Air Force, and use those skills today to continue to teach people, including other pilots, about the weather. Good stuff that I like to pass on!!!!



-----But ENOUGH with the sappy seriousness!!!

***MY WIFE HATED ME FOR THE DUTCH OVEN, and it was RIIIIIIIIIPE! ***
 
guywhoflies said:
I have a student who simply asked for an information packet from ATP and they will not leave him alone. They call him almost everyday. I am sure they are doing the same to you. Don't take the bait and signup just because a good salesman is calling you. ATP has the a great sales department and they don't quit until you put down your deposit. As some others have said, don't take on a flight training loan. Get your degree and do your flying on the side. :soapbox:
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Why would ATP, or any sales department, continue to call someone who has said they are not interested? Your student requested an info packet, which shows interest. Has your student said to the person calling "Hey I wanted some info, I got it, I am not interested" ? Until he does that, a salesman can only go off the fact they showed interest and will continue until that changes. This is only good business.

I sent an email request to a dealership for more info on a car. The dealership called, I got the info, said I would call them if and when I was ready. So I didn't say I was not interested. Obviously, a month later, they called asking if I had made any decisions yet. I said yes and that I was not going to buy a new car now, no need for any further discussion. They do not call anymore. Simple as that.
 
LoadMasterC141 said:
Why would ATP, or any sales department, continue to call someone who has said they are not interested? Your student requested an info packet, which shows interest. Has your student said to the person calling "Hey I wanted some info, I got it, I am not interested" ? Until he does that, a salesman can only go off the fact they showed interest and will continue until that changes. This is only good business.

I sent an email request to a dealership for more info on a car. The dealership called, I got the info, said I would call them if and when I was ready. So I didn't say I was not interested. Obviously, a month later, they called asking if I had made any decisions yet. I said yes and that I was not going to buy a new car now, no need for any further discussion. They do not call anymore. Simple as that.
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I have quite the opposite problem. I can't slow down ATP enough to talk with me! I wish I would get a call every now and then... at least for some morale support, or maybe just to cut through the lonliness.
 
My problem with ATP is that they do not give you any credit for the ratings you already have. If you start with zero time it's the same price as going in with your instrument.

That always rubbed me the wrong way and didn't seem fair.

I agree with the others advice. Go work on your instrument at a local FBO! You can pay as you fly and you won't have a large debt that you don't need.

You'll also spend a whole lot less!

Peel off a couple hundred bucks a week from your new pressure washing business and begin your instrument training.
 
JOEFRIDAY2 said:
Peel off a couple hundred bucks a week from your new pressure washing business and begin your instrument training.
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That is a really easy way to burn a whole lot of money trying to stay proficient without really making much progress... I'd advise to save the money up and try to do the instrument rating all at once. I have had students who tried to piece it out and never were able to make any progress.
 
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