Skidz Posted February 4, 2008 Report Share Posted February 4, 2008 http://www.verticalmag.com/control/news/te...?a=6605&z=6 If it's true, I feel sorry for all those people who've put their money down there... :down: Quote Link to comment Share on other sites More sharing options...
Mark_ Posted February 4, 2008 Report Share Posted February 4, 2008 I think that Silverstate has been having troubles for years. Quote Link to comment Share on other sites More sharing options...
Cole Posted February 4, 2008 Report Share Posted February 4, 2008 Seems as if to many people have been defaulting on silverstates in house loans. Quote Link to comment Share on other sites More sharing options...
worldywings Posted February 4, 2008 Report Share Posted February 4, 2008 I read a post from a current SSH student last December on another board. He was rather upset as he had been led to believe that if they did in fact close the doors he was going to lose the money he had paid up front. It seemed odd to me that this would be the case but who knows. WW Quote Link to comment Share on other sites More sharing options...
tDawe Posted February 4, 2008 Report Share Posted February 4, 2008 The pink slip email is posted on PPRUNE. Sounds like a lot of students were scammed into paying up front and are gonna be way down on the list to get money back, if they get it at all. Not that I think anyone in Canada would do this intentionally, but theres a sad lesson here for perspective students about keeping your money in your hands, not in the schools. A CPL(H) is alot of money to be on the hook for with fresh licence in your hand, but its a lot worse if you've got nothing to show for it cause your school ran into hard times and filed for bankruptcy. Quote Link to comment Share on other sites More sharing options...
Cole Posted February 4, 2008 Report Share Posted February 4, 2008 Fly then pay, nuf said. SSH has students pay 70k up front. If you cannot pay all 70 they will finance the remainder, this plan seems to be whats put them out of buisness. They'll finance anyone they can and so a year down the road student-x defaults on the loan with 40k left to pay off 30 students like that and youre 1.2 million in the red. Not a hard thing to do when you take on more than 1000 students a year. Hope the students have some sort of recovery plan like the PCTIA etc. Quote Link to comment Share on other sites More sharing options...
67november Posted February 4, 2008 Report Share Posted February 4, 2008 yes, it's true http://verticalreference.com/helicopterfor...?showtopic=8914 Quote Link to comment Share on other sites More sharing options...
Kyle Posted February 5, 2008 Report Share Posted February 5, 2008 Also reference our own news section here. Quote Link to comment Share on other sites More sharing options...
transquebecniece Posted February 5, 2008 Report Share Posted February 5, 2008 So very sad for all of SSH's employees, CFIs and students. Hope they all can find some sort of silver lining in the gray clouds, and soon! Quote Link to comment Share on other sites More sharing options...
Jan Pluemer Posted February 5, 2008 Report Share Posted February 5, 2008 Indeed, very sad news... Quote Link to comment Share on other sites More sharing options...
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