Bacardi182 From United States, joined Jan 2000, 1088 posts, RR: 2 Posted (8 years 2 months 3 weeks 6 days 14 hours ago) and read 193 times:
Hey, I'm about to go off to college in a few days to learn to fly. The problem is that I am a middle child and my parents give me problems about how expensive it is to fly even though my dad earns $200,000+ a year my parents are bitches (being the middle child sucks). So I want to pay for my flying (it will be much more gratifying).
How do I go about doing this? I don't really understand student loans and don't know if I can get one (going to comunity college until i can transfer). How could I fly now and pay later (I only have a few grand in the bank).
Kiss My L-1011 From , joined Dec 1969, posts, RR: Reply 1, posted (8 years 2 months 3 weeks 6 days 13 hours ago) and read 188 times:
Sallie Mae has an education loan program. It can be used for flight training as well. You just have to have a flight school put their signature on the loan application. http://www.salliemae.com
DALMD88 From United States, joined Jul 2000, 1977 posts, RR: 13 Reply 2, posted (8 years 2 months 3 weeks 6 days 1 hour ago) and read 167 times:
I'm no financial aid wizard, I worked for the admissons office while I was in school. I think the student loans you are talking about have to be used at an approved 'Type 141' flying school. You can't use the money to fly at BillyBobs Flyn' School and Stormdoor Repair. Any Community College with a Flight program would qualify. One hurdle might be Daddy's income. You might not qualify for the program.
Here is a possible solution; commit to the 2 year school, maintain a 'B' average. If after next spring term you have a 'B' you and Dad split the cost of a Private ticket from your local airport. This will allow you to get a good taste for flying and prove to the guy with the money you are serious about becoming a pilot.
Next transfer to a pilot program @ ERAU, UND, FIT, Purdue, etc after the 2 year local college. Some of these programs are not anymore expensive than a top private school.
Jwenting From Netherlands, joined Apr 2001, 10017 posts, RR: 29 Reply 3, posted (8 years 2 months 3 weeks 6 days ago) and read 162 times:
So you resent your dad not wanting to fund an expensive hobby...
You're a middle kid, so you have at least 2 brothers and sisters. If they both have a $10K hobby on top of all the other expenses, that will cost your father a good chunk of his income.
Bacardi182 From United States, joined Jan 2000, 1088 posts, RR: 2 Reply 4, posted (8 years 2 months 3 weeks 5 days 17 hours ago) and read 146 times:
Thanks for the info guys, what DALMD88 mentioned is exactly what i was planing to do these next few years. If only i could whip my parents into shape like my brothers do (daddy bought them houses and fast cars!)
Purdue Arrow From United States, joined May 1999, 1574 posts, RR: 10 Reply 6, posted (8 years 2 months 3 weeks 5 days 14 hours ago) and read 134 times:
As a Purdue student, I am deeply involved in student loans, and have been for a few years now. Hopefully this helps...
Educational loans come in two main varieties, student loans and parent loans.
The main student loan is the Stafford, which any student is eligible to get if attending an accredited school. The problem with the stafford loan is that there is a maximum amount that you can get each year, determined by your year in school. The amount ranges from somewhere around $2500 for freshmen to $5200 for seniors. If you are not a dependant, by government standards, then you can get more money. If you are a dependant, then the rest of the money has to come in the other form: Parent loans.
PLUS loans (Parent Loans for Undergraduate Students, I believe that stands for) are available to all guardians of students, up to the total cost of attendance. The problem with these in your situation is that your parents, not you, would have to get them. You are free to pay them off yourself, but they must be taken in your parents name.
Note that these federal education loans are available to students of accredited colleges/universities, but I don't know whether they would fund flight training at a flight school that was not run by the college you are attending.
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