My name is Tommy I am 23 years old and have been in the insurance industry for the past five years and have always been interested in flying. While doing research many programs require you train full time. I currently have my own apartment and finance a vehicle so I have no choice but to work. Does atp offer any part time training programs? Would I be better off saving for a year or two so I could pay for my living expenses while going to flight school? Any guidance would help as I would like to start my flight career sooner than later while I do not have any life obligations.
Welcome to the forum.
ATP only offers the fast track airline career pilot program. It will require your full commitment. You could wait and save up the money to live off of during the program but that would delay your future seniority. Instead, you could add living expenses into the cost of your flight training loan. That way you could start right away.
I’m with Hannah. While I understand and appreciate the desire to keep your debt low, seniority is everything at the airlines. More important pilots have a finite amount of years they can fly. You’re a young man with a long career ahead of you. Senior Capts currently earn $400k+. Every year you delay is alot of money you’ll be forfeiting in the future.
Don’t look at it as a loan or debt, but as an investment in your future.
That’s what I was thinking looks like the maximum amount of living expenses that can be put into the loan is $800 a month. My living expenses are around $2500 a month. Should I reach out to financing to see if that amount could be lumped into the loan?
Absolutely reach out to the finance department as this is their area of expertise. I imagine certain aspects of the loan are flexible depending on what you qualify for…
Thanks for the reply guys! I applied but was declined the loan my current credit score is sitting around a (650) but I think my outstanding vehicle loan might have to do with it. I will work on my credit and save in the meantime and try again in 6 months. Both my parents are unable to co-sign due to their own credit issues so that’s not an option.
Adversity happens, I was denied my first two applications and somehow after a few discussions with underwriters got it solved. When lending companies look into lending thousands and I mean almost 6 figures, they want to ensure repayment and securement on their return. Don’t give up, try and contact the finance department and see what options exist out there to help you if you haven’t. Trying to minimize your outstanding loan values now may also help in the end, but again lenders want to ensure they have secure repayment on their money they lend.