An introduction to me and...There is still money out there

permison · September 25, 2009

What about transfer credits? Will they take them and what would they give for my Comm Fixed and Rotory?

I ask here because I called a couple of times and keep getting their "office is closed message"

alpine_wonder · September 27, 2009

I am in kind of the same situation as the topic poster. I am 30, with little to no flight time but interested in becoming a career helicopter pilot. I think I have just been apprehensive about getting out there and applying.

If I already have my Bachelors degree are these student loans that I can still take advantage of... and also I was in the Navy for 4 years, I used my G.I. bill in full getting my degree, but I heard they made some changes to to the Bill for vets who were in post 9/11.. I got out in april 02, I was wondering if anyone had the details on the extended benefits.

I'm also looking at going to Hillsboro, I moved to Oregon for that reason 2 years ago but for some reason got stuck in a routine job. The accident that happened last week kind of makes you put things into perspective, but from what I heard they have a pretty good reputation.

Jsta22 · October 14, 2009

how are you guys figuring on getting $39000 a yr? I have been enrolled in UVU, and they only give you the $9500 sub and unsub, plus any applicable pell grants etc. Then they split that thru fall and spring semester..

I have bad credit, so Alternatives i thought were out of the question... Is that where you got the rest of the money you speak of? Cause i know for a fact, At least i thought, That UVU for sure doesnt give you $14300 a semester' that just means that whatthey will approve or certify through alternative student loans at other banks!

Is it not a credit thing??

permison · October 14, 2009

I figured I would give it a shot and take the winter off to finish up a number of my ratings and get ready for the recovery. I figure by the time the turnaround in the industry hit I would be in a perfect position to get hired. Well.....

I make over 6 figures a year, not eligible for the normal student loans because I make too much. My credit score is in the high 700s low 800s (depending on the reporting agency), I have low balances on credit cards with 50K or so in available balances between the two cards (rates are 7.5 on one and 10.9 on the other) I have a dept store card and a gas card with 0 balances. I own a Jeep a Corvette, and one motorcycle all paid in full. Never been late on one single bill.

Figured I would apply for a loan with deferred payments so I don't have to rack up the balances on my credit cards or hit my savings.

I applied to both my credit unions (they don't offer non Fed student loans anymore and this just happened in the last two months, loans are still listed on web site)

I have also applied to Chase, Sally Mae, Wells Fargo, and US Bank. Denied in all places. If someone with my credit worthiness can't get a student loan I don't know how someone else is going to be able to do it.

permison · October 16, 2009

Just had an interesting conversation with Sally Mae. To those of you who got funding through Sally Mae were you required to provide a cosigner? And if you don't mind, what were the interest rates? Feel free to PM.

auto360 · October 16, 2009

Hmmm. Better idea then getting into debt. Go to school ( 30 days) to and get a class A CDL license. Get hired onto company that does long haul trucking. Ditch your apartment and get a storage unit. Drive for 2 years +/- and save save save. Plus then you will always have a job to fall back on.

OR-

You have military experience so apply to one of the overseas contract jobs in Iraq or Afganistan. You will have what you need in a year if you save save save.

You will be SOOO much better off if you don't finance. Work for your dream....don't just go sign papers and have someone give it to you.

As Americans we want everything right now...like its our right. What happened to working for what we want. A single person with no bills can "almost" easily save $70,000. Now, I didn't say quickly and you will have to work but it can done if the desire is there.....

permison · October 16, 2009

I am in a different situation from the usual student. I already have my commercial rating in both fixed wing and rotary wing aircraft. I am looking for roughly 20K to get my instrument rating, CFI (for both), and multi engine and SES. My plan was to take the winter off and enroll in school to get the aviation science degree which I can probably do in a year or two. No one is spending money on IT consulting so it's a good time for me to take time off. I also want the option to defer payments. If I take money out of my savings I lose my safety net.

permison · October 16, 2009

I think what bothers me about all this is that I am a good risk for loan payback 38 years old with great credit, better than average income, my monthly living expenses less than 30% of monthly income and more in savings than what I am asking to borrow. And I can't get approved for the loan (well in one case not without a co-signer)

Yet I hear about kids fresh out of high school who are getting 70K loans with poor or no credit history, flipping burgers for a living for $9 an hour, no savings, going into a market with little or no job prospects for years to come.

Does this make any sense at all to you????

This seems like the same sort of moronic thinking that got us into the economic mess in the first place but now they are doing it with tax payer money from the bailouts.

helonorth · October 16, 2009

Put the bike and the Vette on craigs list and move on.

auto360 · October 17, 2009

Permison,

If you make more than 6 figures a year, why don't you just take 3 or 4 months and save the 20K? I don't really undrstand that. You make really good money and you only need 20K...thats nothing compared to what most people need. Stop thinking loans. Anyway, this is only my opinion and I realize I don't know your whole story but 20K should be very simple for you.

As far as kids out of HS getting loans....do you know any personally and 2, maybe they have a rich cosigner? I wouldn't think many kids out of HS get loans like that. Sounds kinda rumorish.

Matt

permison · October 17, 2009

Auto360 and Helonorth,

You guys really need to go back and read my post rather than just the first few lines. My comments are not about my not getting a loan, they are about if I can't get one then I doubt some of the other posters will be able to. My comments are merely that the credit/student loan industry is really messed up right now.

I am not trying to brag about my situation either just trying to point out that if someone like me can't get a loan it should be really hard for someone who does not have a job or credit/savings history or is flipping a burger for $9 an hour. A few people (Abarns, Helikriewall, and Miles) have posted in this very thread that they were able to acquire loans and I question how they did it and the justification on the part of the loaning organization (not trying to knock Abarns, Helikriewall, and Miles, I am glad you found a way to go for your dream) .

And yes I personally could take 3 or 4 months and save the 20K but that is not the point. I have a narrow window where I can take time over the next 3 months where historically IT spending slows down to almost nothing. If I take the winter off to work on my ratings I can pick up the new contract work after the start of the new year. But if I wait till the new year to take 3 months off I screw myself for next year’s IT budget spending. Since my workload was going to be pretty low for the next 3 months anyway (This year less than half of normal) this is a good time to take off. If I do it the way you (auto360) suggest then instead of taking time off when my income slows down, your suggestion is to take time off when my income usually starts to pick up. November through January is the opportune time for me to do this. I don’t want to dip into my savings for this, and I want the deferred payments a student loan would give me.

01CelicaGTS · October 24, 2009

ABarnes PM Sent with Questions

Maybe someone else can help me out with this one. I currently hold a RW PPL and I am almost finished with my Commercial and halfway through instrument. I was approved for two 25k loans last year that got me through till now. Now I can't get approved for the remaining 25k. Anybody know if I can start online classes at UVU and get financing for the rest of my training? Any help would be appreciated.

auto360 · October 24, 2009

Permison,

Hmm, yeah I see your point now about taking time off because of the slow spending in IT. Makes sense. Maybe some throught you were bragging, but you made it clear you weren't. Sometimes there are so many small factors in decision making that it can be hard to explain to everyone. It can make offering advice difficult. I'm still all about saving money but thats only because I detest debt, but thats me. Well, whatever happens I hope that your happy with what you decide. For me I think I will hold off on school for now until things look a little better in the economy.

Matt

Harbinger · March 31, 2010

Helicopter Academy also has training through UVU
http://www.helicopteracademy.com/financial...inancialAid.htm

Thread resurrection in progress.

Am I understanding this correctly? It's still possible to receive a federal student loan for UVU, take 7 credit hours online and apply the leftover loan money to training at any Helicopter Academy location?

Edited April 14, 2010 by Harbinger