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Flight school funding????


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Hello all!

 

Newbie here, been lurking for about a week, finally signed up yesterday. I've got my fixed-wing MEL w/ only a 100 or so hours. I planned on working my way thru CFII, but quit due to money issues. I haven't flown in about 5 years now. You can imagine how much I miss it. I've decided that I want to make a career of flying but am thinking really hard about going helo instead. That's why I'm here.

 

Here's my problem: I'm not wealthy, nor is anyone in my family, so paying cash isn't an option. Due to a failed business venture, my credit is unimaginably bad. I was turned down by Sallie Mae when my credit was still decent (to finish my fixed wing stuff), so I know it's not gonna happen now.

 

Are there any other financing/lesson options that you guys know of other than military? Nothing wrong w/ military, but everything I've read here says it's not the way to go for strictly training and timebuilding. (And then there's all that running........ :blink:) Are there any lending institutions that work w/ higher credit risk situations like mine? Thanks in advance for you help!!

 

 

 

 

BTW- I hope you don't mind having a poser plank driver hanging out here....

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Well the 100 hours counts toward the 150 that you would need for a Commericial Rotorcraft helicopter Certification. Thats the good part the bad part is how to fund it. Well there is working and extra job and using that money for flying lessons. There is the Guard and Reserve, you get the GI bill and that will take care of flight school. Of course there would be some running and you don't like the idea of runnning. Not to sound flip but gee if somebody told me that they would teach me to fly helicopters when I was 22 and that they would forget about my glasses, and all I would have to do is run a few miles a day, well exerise is supose to be good for you, I would have jumped on it in a second. But that didn't happen, I funded my training by shooting Coyotoes in Winter, pelt prices were high back then and some long trips on Commercial Fishing Vessels. Took me almost five years to get it all done. Sorry to hear that you had a failed business, I know about that too. Borrowing money for flight school is not a very good Idea, I know guys do, the first few jobs are not going to pay well and when you have huge amount of debt to service,it makes things difficult.

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The running comment was meant jokingly, mostly. At 5' 10" and 235 lbs, the world definitely needs a little less me.

 

I'm suprised that the hours carry over. I didn't know you could do that.

 

The biggest thing is that I had hoped to do school full time. I got my fixed wing one weekend at a time and that's tough. Way too much review. Took me 9-10 months to get to MEL. I realize that that's a sacrifice I may have to make though. What to do, what to do..........

 

 

What really sucks: I had an acquaintance that was gonna give me lessons for free. All I had to cover was his rental on an R-22 and gas. He was an ex-Blackhawk driver who I hung around w/ at work . He had just gotten his CFII and wanted to build up some business. At the time, I was still undecided on the switch to helos and never took him up on it. He ended up leaving our company and eventually ended up as a contractor in Iraq. I'm a dumbass!!

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I'm actually curious about the Army route. If I join, I figure I might as well go thru WOFT, instead of being regular infantry. My biggest concern is signing up for 6 years and ending up w/ only 500 hours, or worst yet, a desk job. Most of the military guys say that signing up just for the purpose of schooling and building hours is generally a bad idea. Plus, joining up at 30 yrs old is a tough pill to swallow.....

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Get a copy of the FAR's and do a little reading. FAR 61 deals with pilot certification. Of the 150 hours you need to have logged in your logbook for a Commerical with Rotrcraft Helicopter, 50 of those hours has to be in a Helicopter. Well so what if you end up with 500 to 800 hours after the hitch is over with? By the time you get that 6 years after flight school done, you are going to have 8 or 9 years in Uniform service, add another 11 or so and its 20 and a retirement. Not many civil trained helicopter pilots have one of those. It seems to me that a lot of guys want things, and what them now, ok I understand that, You want to fly, so what are you willing to give up to make that happen? We all in one way or another have given up something in order to do something else in life. On the Civil side you give up any sort of financial security for a good many years on the Uncle Sam's side, he expects you to serve the nation, and in the course of that service Uncle makes sure you are taken care of. Of course its a lot easier when Uncle dose not have a shooting war going on, but on the other side of that when there is a shooting war, one gets to fly more. It becomes a question of what is it you really want, and then doing what is needed to do in order to get it. T

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That really sums it up. Admittedly, I guess I fall into the category of wanting a handout.

 

I'm single, don't own a house and no bills other than my truck. I've been dying to shut down my floundering business. You think it would be a pretty simple choice, no? I guess it boils down to me being scared of making such a committment. I've been discussing it w/ my family and friends a lot the last few days.

 

Still, my single biggest fear is going thru all that and ending up w/ a desk job. I know it's rare, but that's been just my luck lately. Thanks for all the replies and guidance, btw. I really appreciate it.

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