First post... What do you think of my idea?

[Freeplay]

Well, I've wanted to fly helicopters as long as I can remember. I'm 22 and am about to get my degree (next semester, spring 2007) in marketing. I am currently self employed as an auto broker. I have been doing this for about 2 years now. I could never really picture myself in the marketing world, and I already know I don't want to be an auto broker as a living, although it can be quite lucrative.

 

I am thinking about enrolling at Silver Hawk Aviation. I, like most of us, don't have $70,000 cash laying around. I am thinking about doing the Sallie May thing, but only because I believe that I can pay it off a little bit quicker than the average person because of my supplemental income from my auto brokerage.

 

I am also considering having my parents and grandparents help me out. They are both very excited for me to do this, and I know they would be willing to help out financially. Between them, I think I would have the majority of my tuition covered.

 

So, basically, between a degree, dealer's license, and pilot's license, I think I have some opportunities.

 

Thanks for reading.... Any input?

[Guest pokey]

I'm in the market for a new truck

 

Why not do your marketing/flying carreer one better? Wheel & deal in helicopter sales ?

 

I think you have a good plan, as a start--just keep going.

[dlo]

[sounds like a good plan, but dont be fooled about paying your loans off quickly and having grandpa help you. I think everyone that has ever gotten a loan, had very good plans and intentions on paying the loan off quickly. sallie mae and any loan company will loan you the money, but at a very high interest rate. if yoiu can get a line of credit on a house or something, that might be better.

 

on the other hand, anyone who goes into flying helicopters and already has a good paying job, is one step ahead of the game, always good to have supp income and something to fall back on.

 

do you research and you should be fine. just proceed with caution.........

[Pogue]

I would suggest that you keep working and pay for your flight school without taking out a loan. It will take you a little longer, perhaps, but you won't be in debt for the next ten years. I think Pokey has the right idea - if you're in a position to broker aircraft or helicopters that would go a long way toward paying the bills.

[fry]

Well, I've wanted to fly helicopters as long as I can remember. I'm 22 and am about to get my degree (next semester, spring 2007) in marketing. I am currently self employed as an auto broker. I have been doing this for about 2 years now. I could never really picture myself in the marketing world, and I already know I don't want to be an auto broker as a living, although it can be quite lucrative.

 

I am thinking about enrolling at Silver Hawk Aviation. I, like most of us, don't have $70,000 cash laying around. I am thinking about doing the Sallie May thing, but only because I believe that I can pay it off a little bit quicker than the average person because of my supplemental income from my auto brokerage.

 

I am also considering having my parents and grandparents help me out. They are both very excited for me to do this, and I know they would be willing to help out financially. Between them, I think I would have the majority of my tuition covered.

 

So, basically, between a degree, dealer's license, and pilot's license, I think I have some opportunities.

 

Thanks for reading.... Any input?

If you borrow $70k to pay for 200 flight hours you will still need another 800 or so hours to actually get a job in Louisiana making about $50k. If for any reason during this process you decide you do not want to make a living as a pilot you will have spent...principal and interest...about $200k for a private pilot's license.

 

Go slow, keep your options open (don't get sucked in by a sales pitch...you should be able to recognize one) and pay as you go. You can make better money with a Marketing degree (and it doesn't have to be in just Marketing...while a CPL is only good for one thing) than you will ever make as a pilot. Work for a living and fly for fun.

[Falcon1184]

Well, I've wanted to fly helicopters as long as I can remember. I'm 22 and am about to get my degree (next semester, spring 2007) in marketing. I am currently self employed as an auto broker. I have been doing this for about 2 years now. I could never really picture myself in the marketing world, and I already know I don't want to be an auto broker as a living, although it can be quite lucrative.

 

I am thinking about enrolling at Silver Hawk Aviation. I, like most of us, don't have $70,000 cash laying around. I am thinking about doing the Sallie May thing, but only because I believe that I can pay it off a little bit quicker than the average person because of my supplemental income from my auto brokerage.

 

I am also considering having my parents and grandparents help me out. They are both very excited for me to do this, and I know they would be willing to help out financially. Between them, I think I would have the majority of my tuition covered.

 

So, basically, between a degree, dealer's license, and pilot's license, I think I have some opportunities.

 

Thanks for reading.... Any input?

 

The question is are you willing to spend $70k on something that is going to get you started on a career that'll likely be a long difficult road? $70k is not going to guarantee you a good job flying helicopters. It'll definately get you into the business, but you'll still have a long tough road of building hours and working your way up to a real helicopter job. Don't get me wrong, you can certainly do it, but you have to decide if its really worth it at your point in life. You already have a good job. If it were me, I would stay with the current job if its doing well. Just save up a few years and buy your own helicopter. Get your PPL in your own machine and enjoy it. Just my .02 of course.

[blave]

Methinks if you take out a loan, especially for many tens of thousands of dollars, you will later wonder where you left your sanity in doing such a thing.

 

Use your current job and/or your new degree and work your way through the ratings, cash on the barrel. At the end of that, you won't have enough hours to do anything other than (possibly) instruct, and unfortunately CFIs are grossly underpaid. That's when you'll go "what the f* was I thinking when I took out that loan?" because your monthly loan payback payments will probably (certainly?) be more than what you're scraping up as a CFI. I only mention that because of those little details such as a place to live, a vehicle, health insurance, saving some money for your future... etc.

 

So - assuming you do the Good Thing and pay as you go - enjoy every hour of your flying and training - they're very expensive so you might as well have a good time - and don't worry so much about what you think is your "end goal". You may find at some point (although this is unlikely) that flying helicopters maybe ain't what is was cracked up to be when 8^) .you started, at which time you will ask the same question ("what the f......?") if you took out that big loan to do this.

 

I know these are probably sobering words, but I cringe whenever I see posts by folks that are in the hole for $70K - regardless of whether they actually got to the point (CFII with 200 hours) that was promised to them when they did the loan. You will soon have a college degree - make that work for you, save up the bucks for each rating, and be patient.

 

Finally: realize that as appealing as flying seems to be right now as a profession, I guar-an-tee you that if you "get there", there will be at least a few days that it will be just a job and not Fun Every Minute. Although I have dreamt of flying for a living, I have a career (based on a college degree BTW) that allows me to fly recreationally and thus enjoy every minute of it. Well, every minute that I'm not trying to put the aircraft covers on after I'm done flying .

 

BTW I have to admit to a bit of envy - I learned to fly when I was 40 and I now wish I'd started back when I was your age!

 

Best of luck,

 

Dave Blevins