Good evening everyone. I’ve been reading up on the forum of everyone else’s experiences in pilot training career transitions. I’m looking to hear from others on how they made the transition, financially in funding the transition. More importantly the financial obligation after the course is taken. Can anyone share their loan repayment schedule and what is typically owed after the course is taken (fast track commercial pilot at ATP).
I’ve read that it is in excess of $80k+ for the program, how have those that have taken the course gone about paying for the course before the loan and there after?
I’m 33, have a home mortgage, single no kids no car payments or crazy debts to pay off other than the home. 0 time in flight time, I do have a Bachelor’s. My goal would be commercial pilot fast track and go full fledge in training to get there.
The only way I believe I’ll be able to do this reasonably is to save a substantial amount of money to A) Pay Mortgage (necessities) every month while training and after before earning money, and B) Also apply some of this saved money towards the training costs to cut down loan amount needed. So my monthly repayment on the loan will not overwhelm me afterwards plus the mortgage payments.
I’ve read people are paying back $1000 a month or around that, and for me… that plus my mortgage/rent would leave me absolutely strapped unless I’m quickly making decent money upon completing training.
Any advices or experiences from those in shared situations please chime in!