Hello everyone
I’ve been doing research about the Loans and it is 90k and i don’t think i am going to be able to work while i am at the school. How did you guys were able to do that. I am stressed a lot. Like i can not sleep at night time. All i can think that how am i gonna able to live if i don not work and how am i gonna pay the depth. I fell like it is to much to handle
Levent,
You will not be able to work whilst you are enrolled with ATP. Most people take out additional money on their loans for living expenses in the form of a monthly stipend. Others save up money in advance and use that while they are in training. The good news is that many before you have gone down this path and have been successful. It will take hard work and cost cutting on your end, but it is absolutely possible to do.
Chris
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Levent,
If you truly feel that “it is too much to handle” for you it may be.
Without question the vast majority of the tens of thousands of pilots who trained at ATP (and all other flight schools) did not have the resources to pay for the training and took out the same loan you’re pondering. The vast majority of those people went on to become successful airline pilots, paid the loans off and now have great lives living their dreams and getting paid very well. They knew it would require great sacrifice and tremendous work but realized this was an investment in their future and recognized there was literally no other way. I can tell you as one of those people I’m glad I did and would do it again in a heartbeat.
Those who were frightened or felt it was too much to handle and knew they’d be too distracted by the weight of the loan never took the plunge and went on with their lives. Safely doing the 9-5, making ok money, but wondering “what if?” for the rest of their lives. These are grownup decisions only you can make for yourself.
Adam
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Levent,
Everyone’s situation is a little different. As for myself, I made ends meet by moving back in with my mom while in the program. I also asked for a slightly higher loan to help me cover the cost of food.
When I became a CFI I shared an apartment with roommates. Then I received Tuition Reimbursement from Horizon Air while working as a CFI. That helped me make my minimum loan payment.
From there, I continued to receive Tuition Reimbursement until reaching 1500 hours and then again every month for the first 12 months of my employment at Horizon.
The first few years since the start of the program were rough, but I made the necessary adjustments that I needed to get the job done.
Training for ATP is a trade off. You trade time for money. I was willing to give up an income so that I could complete training as fast as humanly possible and that decision has paid off because of how much quicker it got me to my goal of becoming an airline pilot.
If you don’t like the idea of taking out extra money to cover living expenses, the other option is to save what you need before you start.
Tory
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Levent,
It is a lot to handle and a big risk but most students have a support system. A spouse, parents or relative that help shoulder some of the burden.
To get approved, a needed a co-signer. I also didn’t have enough saved to continue living on my own while in flight training so I moved home and lived with my parents. Once I finished the program, I applied to multiple cadet programs all with tuition reimbursement. Once I committed to one of them, my loan payments were covered and I was making enough money as a CFI to move out and live with a few roommates. My finances were tight but I made it by. Regional pay was an increase plus I was able to refinance my loan to much better terms.
There will always be a risk but there are ways to mitigate that. If you feel like it’s too much, you don’t have to proceed down this path. You’re the only one that can decide what you’re willing to take on to become an airline pilot.
Hannah
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