Swissmatt Posted April 7, 2007 Report Share Posted April 7, 2007 Hi all, I have a question regarding the financing of flight school. I'm currently debating my options, which are: 1) oilfield work, get the entire amount and then some, go do flight school + no debt + no flight school interruptions based on lack of funding + ease of mind - long timeframe (no flight school until ~ 2009) - getting older (30 now) - first job hunt pushed down the line 2) partial oilfield work, get loan for ~ 25K, pay rest through oilfield work 3) get loan, do flight school and find job that helps pay it off + immediat start on flight school, followed by job hunt (roadtrip) + get to pay off loan with work I want to be doing - lower pay compared to oilfield - loan pressure So, really, Nr. 1 would be awesome .. why I'm actually asking is because I know very little about loans / LOC's and such .. 1. LOAN or LOC? 1. Where to get a loan / LOC? I know I can get one through my bank, but I was wondering wether there are financial institutions dedicated or specialized to the flight industry. How much they cost (interest and all)? Say I get 50K, how much would be paying in the end? (ballpark, 10%? 4%?) Whether you recommended it? How much did you struggle to pay it back? Would you take the same route again? My mind is made up as to whether I want to be a CPL or not. I guess I am struggling with the risk of a loan for doing what I want to do immediately or sticking to the 2 year plan with its safety but time delay. Last but not least, if anybody working in the oilfield reads this and is looking for a qualified and hard-working individual, please pm me. If you don't want to share your story in the forum, please pm me with your tips and tricks. thanks a lot +M Quote Link to comment Share on other sites More sharing options...
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