Loan frustrations

[AdamSTL]

So I applied for my loan at Sallie-Mae not too long ago. They denied it, apparently they are looking for a cosigner. A cosigner is a problem so I called to see if I could get any ideas. Apparently I did not have enough credit history or make enough money. The money part is very frustrating because I spent the last few years making less money to make it easier to get a student loan. Apparently Training loans are diffrent. I have something like a 730 credit score with no bad marks at all. There are probably only two years of loan history on that so I can understand their concern.

 

Here's the question: I got the loan for my Scion easily - with even less credit history a year and six months ago. I called SallieMae and they told me the ammount you borrow is not a factor in whether or not you get the loan. If I had tried to get $5000 I still would not have been approved. I realize there are a LOT of variables here but I have to find a way to make this work. So I got a $13,000 (I put $2000 down I belive) car loan but I would not be able to get a $2000 or $5000 student loan? I would have thought school loans would be easier to get. So this doesnt seem reasonable to me.

 

I attempted to do the deferred payment program and it does say that this is for qualified applicants. Is this the problem? I have the car loan - am I over extended? Is it both of these? together?

 

I'll do what it takes but I was wondering if anyone else here had gotten there career training loan from Sallie Mae and how their financial situation stacks up compared to mine.

 

Any Ideas? I need to get this resolved soon. (Forgive the spelling here - I dont have access to anything to check it.)

[gmsemel]

Well how much do you make right now, you got an outstanding note? Gee you bought a car, and you don't know how much cash you put down? One of the thing about car loans is that they can aways repo the car, that in itself is an asset that they can retrive from you.  Student loans and the like are different. Salle Mae looked at you and say gee he bought a new car and now he wants a 50K loan to fly helicopters! Besides borrowing money for flight training is stupid to begin with. Now if you are young enough, go in the army and in two years you will have enough with what you save and the GI Bill. Or if you are sharp enough, why don't you put in for Helicopters in the Army? In 6 to 15 years you could get out and have enough flight time to be employable and not have to fly R-22's

[AdamSTL]

Well - getting rid of the car is a non-issue. No, to be honest I don't recall how much I put down but lets call it $2000. I reported that I made $15K last year. I've got an associates in science and will have an associates in engineering at the end of this semester - for whatever those are worth. I'm 24 so I believe I don't have much time left on getting in to the army. If I could go in and take a test to see if I would get into a flight training program I might consider it. I'm not going to bother asking a recruiter about it. I've heard more that a few first hand accounts of what recruiters are willing to say to get you to sign. I've heard military pilots don't really get that many hours - I suppose it depends on what you are flying and when. Right now I'm sure Blackhawk pilots are getting extraordinary PIC time, not without significant risk.

 

  If I can jump start my career with some early sacrifice, I'm more than willing. I've been sleeping on a couch for two months now and gladly shopping at Aldi's for 2 years. I like the new car because I hate dealing with other peoples crap but I didn't flinch when it started to look like it might have to go. If I can get Hours such that I'll be making a realistic wage in a few years, a roof and something to eat will be fine by me.

[Scott83]

I don't know why gmsemel considers getting a loan for flight training as a stupid idea, but I have to disagree. There are many pros and cons to both civilian flight training and military training. I went the civilian route and have a loan for the training. I didn't feel like enlisting for 6 years with no guarantee of flight hours by the time I get out. I have heard stories of military pilots coming out to the civilian world with 300-600 hrs. You can't even be employed with that amount of flight time. In about 2 years of time, you can have all of your ratings completed and a thousand hours under your belt if you work hard at it. You can be employed quite easily with a 1000 hours. As far as loans are concerned, it has gotten more difficult. I got my loan through Key Bank, but now only certain schools can offer their loans, but that is still a possibility. Key Bank Loans are easier to get I believe, so I would check to see what schools offer them.

 

Hope this helps

 

 

Regards,

 

Scott

[mechanic]

AdamSTL,

 

Here is the info on warrants active duty.

 

Option 1

 

 

Warrant Officer Flight Training (WOFT)(Civilian, Member of a Reserve or National Guard) Contact your local Army recruiter to start your Warrant Officer Flight (WOFT) Packet. This will consist of you taking the Armed Services Vocational Aptitude Battery (ASVAB), the Alternate Flight Aptitude Screening Test (AFAST), and the basic enlistment physical. You must be at least 18 and not have reached your 32nd birthday at the time of selection. Age waivers above the age of 32 have an approval rate of less than 2%. You must be a US Citizen. Legal infractions above traffic violations will require a waiver.

 

 

 

You must achieve a score of 50 or higher on the ASVAB test while achieving a GT score (one of ten sub test scores from the ASVAB) of 110 or higher. You must score 90 or higher on the AFAST test. A Class 1-A/W Flight Physical will then be scheduled. You cannot have had Radial Keratonomy eye surgery. Your eyesight cannot be more than 20/50 and must be correctable to 20/20. There is a study group being conducted on personnel who have undergone eye surgery for entry into the Warrant Officer Flight Training Program. Please visit this site for additional information concerning the study group: http://www.rucker.amedd.army.mil/dept/aama/

 

 

 

You will have to provide a copy of your high school and college diplomas and transcripts, references from no more than 6 of your closest friends in as high a position within the community as possible. Your references should include community service, volunteer work, character, physical ability, scholarly and leadership traits. You will have to complete a signed, one page, handwritten, narrative addressing the statement "Why I want to be an Army Aviator". No assistance in preparation of the paper is authorized other than the use of a dictionary. You will also be required to get a full-length photo in professional attire. Your packet will be forwarded to the recruiting battalion headquarters for review; they will convene a board of officers for you to appear before. Their recommendation and your application packet will be forwarded to the USAREC Selection Board. Once the USAREC Selection Board has adjourned and the results are approved, the recruiter will be notified of the results. If selected, you will have 10 days to go to the MEPS where you took your physical and enlist into the Army as a Warrant Officer Flight Training Candidate. You will not leave that day, you will be given a report date from 3 weeks to 12 months later. You can also find information on the Warrant Officer Flight Training program at goarmy.com

 

 

 

Mr. Joe L. Howell

OCS/WOFT Program Manager

1-800-223-3735 ext. 6-0467

COM 502-626-0467

DSN 536-0467

Joe.Howell@USAREC.ARMY.MIL

 

 

WO Recruiting homepage

 

Regards......

[AdamSTL]

Here’s the big question: I was home-schooled after freshman year and started college courses at 16. Will a GED work? Or my associate’s degrees? I assume it will count against you one way or the other. If so, I'll have to find out what my uncorrected vision is. I'm afraid it’s pretty bad. It's correctable to 20/19 if I'm not mistaken.

 

I can't help but think about how, when my employer was in the National Guard, he repaired a Helicopter mechanic's MG regularly. Hopefully they are getting higher caliber mechanics these days.

[mechanic]

AdamSTL,

 

I was enlisted USAF, so I don't know all the in's and out's. I tried to get in the WOFT but my age eliminated me. It has bee awhile and it starts getting alittle fuzzy the older I get, lol.. There are some contacts in the info I gave you. Contact them!!! If you decide its what you want to do.

 

Here is some more info.

 

Steps To Determine Eligibility For The Warrant Officer Program

The steps below provide guidance on how to use this web site (www.usarec.army.mil/warrant) to determine eligibility and if eligible, how to submit an application. Review the steps below and explore all of the pages in this web site to determine if you are eligible for any WO MOS before beginning an application.

 

STEP 1: View the recruiting branch's most current presentation. WOBrief.ppt

 

STEP 2: Administrative Requirements

 

(A soldier must meet these seven Administrative Requirements before applying for the Warrant Officer Program)

 

1. US Citizenship (No Waivers)

 

2. General Technical (GT) score of 110 or higher (No Waivers)

 

3. High school graduate or have a GED (No Waivers)

 

4. Secret security clearance (Interim secret is acceptable to apply)

 

5. Pass the standard 3-event Army Physical Fitness Test (APFT) and meet height/weight standards (Click here to see information on Waiver Process)

 

6. Pass the appointment physical for technicians or the Class 1A flight physical for Aviators

 

 

7. All Applicants must have 12 months remaining on their enlistment contract

 

STEP 3: Determine the Warrant Officer (WO) Military Occupational Specialty (MOS) for which you might be qualified. The most common MOS that personnel from other services are eligible to apply for is 153A (Aviator) because this MOS requires no prior skills or training. For this MOS you must be less than 33 years of age by the convene date of the board (or request a waiver) and have 20/50 distant visual acuity, correctable with spectacles to 20/20, also note there is an Aeromedical refractive error exception to policy (LASIK/PRK information). All other Warrant Officer (WO) Military Occupational Specialties (MOSs) require you to be at least pay grade E5 or higher with 4-6 years experience in a skill that is closely associated with a WO MOS. Review the Prerequisites and Duty Descriptions part of this web site to determine if you are doing very similar work to one of the WO MOSs.

 

STEP 9: If requesting MOS 153A (Aviator), you will need to:

 

a. Schedule an Alternate Flight Aptitude Selection Test (AFAST) and a Class 1A Army flight physical. You should first try to schedule the AFAST through your education services officer. Next option is to schedule at a Military Entrance Processing Station (MEPS) through an Army recruiter. The Army has DA pamphlet 611-256-2 regarding AFAST for more information. Your FINAL option is to contact Ms. Zeina Zannelli at Human Resource Command (HRC) to schedule testing. Click here to see what documents and information are required. You can contact Ms. Zannelli at (703) 325-9812 or by email at Zeina.Zannelli@hoffman.army.mil. She can assist you with scheduling your AFAST test. If you would like to look for locations authorized to give the AFAST near you click here to see the list of authorized Testing locations. Please do not contact Mrs Zannelli about other requirements for the WO program, instead you should contact a recruiter. You should get a study guide from an education center, library, bookstore, or online bookstore before testing and study diligently to achieve the best score.

 

b. The physical is scheduled and completed at your servicing hospital, but must be approved by the Aeromedical Center at Ft. Rucker before you can include a copy in your application.

 

Commander

USAAMC

ATTN: MCXY-AER (AAMA)

FORT RUCKER, AL 36362-5333

 

Regards.

[AdamSTL]

3. High school graduate or have a GED (No Waivers)

 

So the website this came from says a GED works?

 

I don't understand this part:

 

7. All Applicants must have 12 months remaining on their enlistment contract

 

Is this for people who are already enlisted?

 

To the best of your knowledge So long as I:

1) Pass Medical and Vision

2) Have a Highschool, or perhaps, GED

3) Pass all knowledge tests sufficiently

4) I guess there is some security and references to work out...

 

I can look into this?

 

But I don't need to already be in the armed forces,

Or commit to being in the army before I know if I will be accepted? Also am I commited if I were to wash-out of the program? - not that I have any intentions of failing at this.

[mechanic]

AdamSTL,

 

I know the army can do some stupid things at times. I looked at the commercial site for warrants and this is what it reads.

 

 

"Do you have what it takes to become a Warrant Officer? Applicants for the Warrant Officer Candidate School/Warrant Officer Flight Training program must:

 

Have a high school diploma.

Be at least 18 years of age at the time of Regular Army enlistment and not have passed your 33rd birthday when the board convenes. High school seniors may also apply. If you are 33-34 years of age, you may request a waiver.

Be a citizen of the United States.

Score 90 or higher on the revised Flight Aptitude Selection Test (FAST). FAST test results are valid indefinitely as long as verifiable official records exist. No waivers are available for failure to meet the minimum FAST score.

Earn a minimum of 110 General Technical (GT) score on the Armed Forces Vocational Aptitude Battery (ASVAB) (non-waivable as well). The GT score is one component of the ASVAB results.

Meet the Active Duty Army's screening height and weight standards.

Take a complete physical exam at a Military Entrance Processing Station (MEPS) and meet entry medical fitness standards as determined by military medical authorities no more than eighteen months prior to the date of application. Must also undergo a Class 1A Flight Physical Examination in addition to the one conducted at the MEPS and have results approved by Flight Surgeons at Fort Rucker, Alabama, prior to the selection board. The Flight Physical must also be less than 18 months old."

 

You can always ask specific questions here.

 

Mr. Joe L. Howell

OCS/WOFT Program Manager

1-800-223-3735 ext. 6-0467

COM 502-626-0467

DSN 536-0467

Joe.Howell@USAREC.ARMY.MIL

 

See a problem with both sets of info!

 

Warrant sight says 32 and the comm site says 33 yrs old.

Warrant sight says diploma or ged, com site diploma.

 

Typical Army stuff from what I have seen during my short career.

 

Talk to Mr Howell, if he doesn't know he will point you in the direction you need to go. I will check my old emails for a email I recieved from CW4 Lynch at Rucker and get back with you with the info.

 

Regards.

[AdamSTL]

I contacted Joe Howell and he said my education should be fine.

 

Unfortunately, I'm afraid my vision is, more than likely, worse than 20/50. I wonder if squinting is fair? And, If I were able to pass a vision test, what would happen if it got worse later? Its corrected to 20/15 at the moment.