Paying for flight training?

Thair81

Thair81

Well-Known Member
As I sit here looking at the limited dollars in my bank account, I'm just curious as to how other people are funding or funded their flight training.
I myself work a couple of part-time jobs. I tried doing the full-time work as well flight training but quickly realised that working 40+ hours per week left very little time to pursue my goal- basically I had the money but not the time to use it for flying. So now I work part-time (25-30 hours a week) and this gives me just enough money and definitely enough time to move forward with my training.
Anyway, I just curious to see how others are paying for their training. How are you other people doing it?
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I won the lottery!

Just kidding... I made it through college without having to take out loans. (ROTC grants, took a year off to work and save, lived in the dorms and was an RA, parents helped out for a year, etc). I graduated with like $500 to in the bank, then went to work for a year saving again, then went part-time at work and started flying to get my private. After that I ran out of money and decided it was time to quit my job, take out a loan and then went through ATP to finish up the rest of the ratings.

Couldn't have done it without family support.
 
If you work full time, there are always weekends and evenings to go flying. That's how I've been going about it.

Now, this will mean that from time to time, the real world will get in the way of your flying. There will be times where you don't get to fly for about a month or so, which will obviously slow you down.

Stick with it, though, work hard, and you'll make it through.

You definitely want to avoid loans if at all possible. Think about it. Get hired as a CFI and you're looking at $15K a year, tops. A first year regional FO will make around $18K.

The last thing you need on those pay levels is debt to pay.
 
I got furloughed and my boyfriend offered to pay for my flight training.

No kidding!

Course, 3 months later I had to marry him
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Now, if that's not an option for you, the others above have given great advice. Also MBNA with AOPA offers loans for flight training.
 
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I just curious to see how others are paying for their training. How are you other people doing it?
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One hour at a time ... no debt! I was a plumber at the time making pretty decent money and just focused on my flight training ... ie: no fun on Friday or Saturday nights.

Jim
 
I started out with a SLM loan to get my private and my x/c time building for my instrument done. When that money ran out, I turned to my job at SWA to fund my instrument. I was working 45-60 hours a week and flying either before work (I worked 2-10:30) and on my days off. If I could have done all my training like that, I would have. But throw in actually things I have to do to live (grocery store, spend time with my wife, etc) and the college courses I was taking on-line, it was getting tough. So, I took out another Sallie Mae loan. Now they own my soul. If I could have worked and flown on the side, I would have preferred to do that. However, it took me over two years to get my PPL and instrument, and at that rate it would take forever to get the other ratings. If I were 20-25 years old, I probably would have stuck to that route.
 
I guess it all boils down to how bad you want to do it. It seems that alot of us here are in a similar boat.
TonyW mentioned about not being in debt which is something that I can totally vouch for. I got through university without owing a penny (thanks to my parents and crappy summer jobs). Paying back loans are a serious b#tch. Now that I am doing flight training, like I said I work part-time and fly as much as possible, but I still rely on my folks for food, shelter, etc. as all my money goes to flying.
I did take out a line of credit from the bank but fortunately have not yet had to dip into it.
I got through my private without owing anything, so hopefully I can do the same with the commercial (I live in Canada, so our system is a little different to you guys down south, but anyways, I digress...) Plus as I get further along and build up a bit more experience I'll be able to take people up with me on cross country, sightseeing, etc. and get them to cover some of the cost (as long as I myself don't make a profit I won't get in trouble with the authorities- always a good thing). This will obviously help fray some of the cost of getting the CPL.
Also, it was mentioned that AOPA gives out loans. I'll have to see if COPA does anything similar (COPA = Canada's equivalent of AOPA
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).
 
Marry a girl who is going to be a doctor, then she'll be rich and pay for all your training.......

....oh wait a minute!


Maybee that's not such a good plan after all.
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When i was getting my PPL I worked a full time job to support my family and worked part-time as a house painter to pay for the flying,so i had enough $ to fly 3 or 4 hrs a month ,it took me about a year to finish PPL ,I never borrow a pennie
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Who is the goalie in your avtar?
 
I hustled, any way that I could.

The $1000/month form the VA didn't hurt much, either! That was well earned, though.
 
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Who is the goalie in your avtar?

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The one and only Gordon Banks. Played for England during the 1960s and early 1970s. Arguably the best goalkeeper to ever play the game...and apparently a hell of a nice guy too.
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I owe the bank $50,000 and counting but its about to start being paid back...not the best way to go but it is an option if you are a po' boy like myself. Don't forget about scholarships (had to look that one up).
 
Porn.

j/k

Actually, spending every spare penny I had from working after high-school and going to community college while living with my parents a couple extra years until going on to university.
 
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