Matt13C
Well-Known Member
There is some great advice and perspectives in this thread. But I think a big point is being missed here. Is taking a loan out for 60-70 or 100k a wise decision knowing your first few years you may only make 20-30k? No, it is not! it would be like going to Harvard with the goal of being a social worker. It really does not matter where you get your ratings from or how much you pay, all that matters is that you have them and have the hours to qualify.
With that said I think taking a 30k loan out to fund your PPL, IR, COMM and CFI is completely doable. Yes, you will still have a loan payment but it will not be overwhelming by any extent. Sure it eats into your disposable income, but anyone who went to college or any kind of trade school and did not have mommy and daddy pay for it is dealing with it.
Borrowing money is never anyones first choice. But not everyone has the option of paying as you go. Plus, even while you are training it is possible to work. Since you have the funds to fly, you should be able to save up some to get you through the first year as an FO or a CFI if you live within your means.
With that said I think taking a 30k loan out to fund your PPL, IR, COMM and CFI is completely doable. Yes, you will still have a loan payment but it will not be overwhelming by any extent. Sure it eats into your disposable income, but anyone who went to college or any kind of trade school and did not have mommy and daddy pay for it is dealing with it.
Borrowing money is never anyones first choice. But not everyone has the option of paying as you go. Plus, even while you are training it is possible to work. Since you have the funds to fly, you should be able to save up some to get you through the first year as an FO or a CFI if you live within your means.