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I have a credit score of 790, and all i can get aproved for is 25,000 thru Sallie Mae. I tried uvsc, they say i make to much money to apply for a stafford loan to get the full amount degree+flight school, they said i would qualify for the tuition cost, but not for flight school. :angry: I mean what is a person supposed to do, if i made anymore money i could just pay out of my pocket. I tried the Teri loan, but my flight school is not associated with them. The loan system in this country is so screwed up.

 

The person that makes the big bucks are the ones that could qualify for the 55,000, but they are the ones that dont need it. The ones that could get accepted to uvsc are the ones that have a lot of dependandts and probibly couldnt afford to relocate for a pilot job to begin with, or they have a very low income, and probibly couldnt relocate smoothly because of credit history, or no credit history.

 

I make 64,000 per year in the printing industry, and i cannot get stafford funding from the government because i make too much money.

 

So its good to see that if you work really hard in this country and make a so so living for yourself, you can expect to get no help from the government for an additional education.

 

I even tried to get a home equity loan, but guess what I live in the fine state of Texas where we are the only state that allows you only 80% of the equity you have for loan. :(

 

 

So just how excacly am i just suposed to go for it????

 

can someone please help me figure this out, I know alot of this is just ranting, but i am trying to figure a way into the aviation industry.

 

Thanks in advance for any advice you might have :)

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making 64k a year you should be able to go the pay as you go route, flying at least 2 hours a month to start.

i wish i had your problem.

 

 

 

I am 34, and yes i could pay as i go and at that rate i would be 41 years old and not a very proficient pilot. I dont see any positives with this solution only negatives.

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I am 34, and yes i could pay as i go and at that rate i would be 41 years old and not a very proficient pilot. I dont see any positives with this solution only negatives.

 

 

This is going to sound stupid at first but hear me out.

 

With a score of 790 and a personal income of 64K, you should be getting 0% credit card offers left and right. Fly on your credit cards, transfer the balances as needed to keep them on 0% cards and watch out for transfer fees, etc. Keep them all current and you should have all the credit you need and then some. Pay off the cards one by one and as quickly as possible.

 

I was one of the last people to get money through Pilot Career Foundation/Key Bank and I was paying upwards of 6%. I have been aggressively paying down that debt and I'm paying off the rest with transfers from 0% credit cards.

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This is going to sound stupid at first but hear me out.

 

With a score of 790 and a personal income of 64K, you should be getting 0% credit card offers left and right. Fly on your credit cards, transfer the balances as needed to keep them on 0% cards and watch out for transfer fees, etc. Keep them all current and you should have all the credit you need and then some. Pay off the cards one by one and as quickly as possible.

 

I was one of the last people to get money through Pilot Career Foundation/Key Bank and I was paying upwards of 6%. I have been aggressively paying down that debt and I'm paying off the rest with transfers from 0% credit cards.

 

sounds a little scary, but i will definetly look into that thanks for the idea :)

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And there's always the Gerhardt route. Take a second job for flying, paying as I go. I bust my ass but it's worth it.

 

That's what I'm doing, and getting a running start at it to boot. I won't even have a chance to start flight school until december.

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so you pay as you go'ers out there, how much flying time per month do you do on average?

 

Ahem......when I first started flying, the 22 was $100/hr solo, or $120/hr with the instructor. At the time, early 90's, I was making about $700 week take home. I flew once a week! It took me 2 years to get my private(92 hours), and $12,500, but I did it ALL BY MYSELF! My folks helped me out wth the commercial! Now, I try to fly when I can, but it will be more frequent as I will be working on my CFI. ONLY took 15 years after I got PPL, but at least I'm doing it! :) I also think being older, I'm more cautious now, and maybe a little wiser too, ay! :) Although the latter, don't ask my wife about that! :)

 

Cheers ALL-

R91

 

P.S. When I first started looking into flying the 22HP, they were $85/hr back in 86 or 87! Can't remember, but...my Dad said "85/hr.....no F'n way I'm paying 85/hr"!! Now look....go figure! :)

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so you pay as you go'ers out there, how much flying time per month do you do on average?

 

 

My second job is mowing a handful of lawns after my day job so my schedule is very flexible. The downside is that I have to drive 150 miles each way just to rent an R22 so my hours tend to be bunched together. In the middle of summer I'm lucky to log 4 hours a month, and it's all on the same trip. I got my helicopter add-on last winter and was able to fly whenever I wanted while training (weather permitting) and averaged once to twice a week at 2-4 hours each time. If there was an R22 closer I'd be flying at least twice a week even in the middle of summer.

 

(if anyone here is interested in a partnership on an R22 in mid-Missouri...)

 

In short, time is my biggest limiting factor, because of the commute.

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What you might find interesting is that some people can get a pair of $25,000 loans with Sallie Mae, but cannot get the entire amount all up front. Strange, but we've seen that happen to several students.

 

It is a risk, but you might consider taking the $25,000 from Sallie Mae, and going ahead, and trying for a second $25,000 in 6 months. You also could try AOPA, as they will lend $25,000 towards flight training. Getting half from one place and half from another works sometimes.

 

The credit card idea is ok, so long as you have the discipline to pay them as planned.

 

A flight school has to be in business for 3 years under the same ownership before the Teri loan becomes an option...

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64k/year is a lot more than you'll make for many years as a helicopter pilot. It will take you a long, long time to pay off the loans, and it's probably a good thing you can't take out a home equity loan for the full value of your home, because you would almost certainly lose the home, unless you're still working full time at your current job. A commercial license will not get you a job, and you'll have to find a way to get about 5 times the hours you get for the license, probably more, before you can get hired. It's not a pretty picture, but that's the way it is.

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You could stop paying income tax to save some money.

 

This might sound stupid to some of you?

 

freedomtofascism.com

 

An interview with the Director

 

I've seen the documentary/movie and income tax (personal) is illegal and the IRS is unable to prove otherwise.

 

Cases have been thrown out of court because of it.

 

(It's officially released Sept and Oct. 2006).

 

Good luck with the flying - the financial side is often a pain or hurdle.

 

One step at a time..

 

Personally - I'd stay away from loans. I've done it twice and it's quite sad really the way we take the bait.

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Now I have to call BS. The personal income tax is not illegal, and the IRS has no requirement to prove anything. The income tax was instituted via a constitutional amendment, and is clearly legal and constitutional, and has been ruled so many, many times, but courts up to and including the supreme court. People who claim otherwise are being disingenuous (lying) and refusal to pay the tax will result in imprisonment and forfeiture of your property. What is sad is the way people take the bait of the idiots who claim to be able to get them out of paying.

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:P

I've been flying with Tomlinson Aviation in Ormond Beach for about 2 months now. I started by paying as I go. They only require that you keep 2 hours of time in your student account. ($240 per hour) I have about 30 hours flying time now and based on where I am in my training, I expect I will finish between 40 and 45 hours. I fly at least once during the week, and 2 times on the weekends. I've never had to wait on a helicopter to fly. I have a good job (IT Director for Harley Davidson in Daytona Beach). So I'm thinking about $11,000 or so to the finish line for PPL. I spent about $300 or so for books, etc. Bought an electronic flight plan calculator ($79) Tomlinson has been great about the whole thing. I sure lucked out having them in my backyard (I live in Daytona Beach, 10 minutes from the airfield).

 

My training is for a hobby, not a profession. Harley Davidson pays me pretty good, I am single, have no kids, ex wives, etc. No "bags" to carry in life, just my own. (I do have a pet fish called "fishy") That's pretty much why I'm able to do it that way. I 've read tons of posts about "student mills" and loan refunds never happening, etc., it makes me mad that that kind of crap takes place, but it does.

 

I wish it was easier to break into the profession......

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I was able to get a home equity loan. I'm flying twice a week getting about three hours, or about 12 hours a month. I figure maybe Spring, 08?

 

I may need to take a Sallie Mae to finish the commercial.:(

 

Later.

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Now I have to call BS. The personal income tax is not illegal, and the IRS has no requirement to prove anything. The income tax was instituted via a constitutional amendment, and is clearly legal and constitutional, and has been ruled so many, many times, but courts up to and including the supreme court. People who claim otherwise are being disingenuous (lying) and refusal to pay the tax will result in imprisonment and forfeiture of your property. What is sad is the way people take the bait of the idiots who claim to be able to get them out of paying.

 

I understand your response.

 

You should find the movie interesting. I'm not even American. The IRS officials in the movie - are.

I'm glad your not taking my word for it, but after watching the movie - who's word are you gonna take?

 

All the best,

 

Grant.

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B)-->

QUOTE(Grant B @ Sep 9 2006, 17:05 )

You could stop paying income tax to save some money.

 

This might sound stupid to some of you?

 

freedomtofascism.com

 

An interview with the Director

 

I've seen the documentary/movie and income tax (personal) is illegal and the IRS is unable to prove otherwise.

 

Cases have been thrown out of court because of it.

 

(It's officially released Sept and Oct. 2006).

 

Good luck with the flying - the financial side is often a pain or hurdle.

 

One step at a time..

 

Personally - I'd stay away from loans. I've done it twice and it's quite sad really the way we take the bait.

 

Please...do the world a favor...do not have children. The gene pool already has too many morons who fall for this blather, don't add more. And don't vote either...please.

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The loan system in this country is so screwed up.

 

So its good to see that if you work really hard in this country and make a so so living for yourself, you can expect to get no help from the government for an additional education.

 

I even tried to get a home equity loan, but guess what I live in the fine state of Texas where we are the only state that allows you only 80% of the equity you have for loan. :(

So just how excacly am i just suposed to go for it????

 

Well...would YOU give you an unsecured loan for $50k? Be appreciative that they will not lend you the money. If you've got the drive to go all the way to a paying job as a pilot then you don't need the loan...you'll figure out a way. If you don't, then you do not have the discipline to be a good credit risk anyway. Be glad they recognized that for you and turned you down. Oh, and stay away from that credit card idea...paying 21% can get awfully expensive. You'll end working in you current occupation and sending all you take-home pay to the lenders.

 

 

:P (I do have a pet fish called "fishy") That's pretty much why I'm able to do it that way.

 

Because the fish has a job too??? <_>

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The loan system in this country is so screwed up.

 

I make 64,000 per year in the printing industry, and i cannot get stafford funding from the government because i make too much money.

 

 

Ahh.....Americans.....over here you can't get a loan for helicopter piloting,

as it has been decreed not to be a useful profession to society by our lovely

socialist goverment. On top of that, income tax is about 70% including

mandatory social insurance and salaries rarely go above $35.000/year,

(if they do your tax goes up).

 

If I can get the money for training under these conditions, so can you...

Stop moaning, sell your house, live in a trailer, eat spaghetti and save like

your life depended on it and you'll have the missing money in two years.

I moved to London (one of the more expensive cities in the world, but higher

salaries and lower taxes than above), made $60.000/year and saved

$20.000 in ten months.

 

May not be the most appealing solution but there it is....and free too.... B)

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Thank you all for taking the time to reply to my post, all (well most ) were very helpfull, i am starting my 2nd job tonight (bowling Alley :D ) I am going to use my 25,000 loan to get me started, and star saving every penny, so i will have more saved when my 25k runs out to keep going. Thanks again! :)

 

 

Patrick

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welcome to the world of helicopters!!! youll be broke during your training then broke whilst your getting your first 1000hrs, then forever trying to catch up!!!!!! but i have lived by this moto since i got into this industry," where there is a will there is a way" and beleive me there is a f&*%$£g way !!!!!!!!!!!!!!

 

i wish you all the best in your endevour but i am unable to offer you any advice coz it all sent me bankrupt!!!!

 

blue skies

 

matt

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Now I have to call BS. The personal income tax is not illegal, and the IRS has no requirement to prove anything. The income tax was instituted via a constitutional amendment, and is clearly legal and constitutional, and has been ruled so many, many times, but courts up to and including the supreme court. People who claim otherwise are being disingenuous (lying) and refusal to pay the tax will result in imprisonment and forfeiture of your property. What is sad is the way people take the bait of the idiots who claim to be able to get them out of paying.

 

Gomer - I don't agree with it being on Google Video as I was hoping a cinema release in the coming months would create more debate and I'm not sure if it is the final version but, there is a copy of that documentary here:

 

http://video.google.com/videoplay?docid=-4...78412&hl=en

 

This forum isn't really the place to debate it and I'm not much of a debater either way - but I hope it can benefit those who do watch it one way or another.

 

All the best. Grant.

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