Get a Loan for $60,000 - College & Pilot Ratings

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Discussion Overview

The discussion revolves around obtaining a loan of approximately $60,000 for college expenses and additional pilot ratings. Participants explore various options for financing education and flight training, including traditional loans, financial aid, and alternative paths such as military service.

Discussion Character

  • Debate/contested
  • Technical explanation
  • Conceptual clarification

Main Points Raised

  • One participant suggests visiting the college financial aid office for assistance in securing a loan.
  • Another participant argues that obtaining a loan for $60,000 may be difficult without collateral and recommends minimizing the loan amount while seeking part-time work or grants.
  • A different participant agrees on the need for collateral and provides a resource for loan expectations, while also inquiring about the original poster's flying progress and future training plans.
  • One participant proposes joining the Air Force as a way to receive flight training at no cost.
  • Another participant acknowledges that while joining the Air Force may be a cost-effective option, it is not necessarily an easy path.
  • A later reply notes that the USAF is not the only military branch that offers flight training opportunities.

Areas of Agreement / Disagreement

Participants express differing views on the feasibility of obtaining a loan without collateral, the effectiveness of financial aid offices, and the merits of military training as a solution. No consensus is reached on the best approach to financing the desired education and training.

Contextual Notes

Participants mention various assumptions regarding loan eligibility, interest rates, and the nature of military service, which may affect the discussion's conclusions.

Holocene
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I need a loan for approximetly $60,000.

The money will be used to pay for college as well as pay for addiitonal pilot ratings. (Already a priavte pilot).

The goal is to eventually fly for hire, but I'll need college and additinal rating before I can do that.

Where can I get a loan for this amount?
 
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Go to the college financial aid office. They will set you up.
 
One is fairly limited to the action suggested by wildman.

One will likely not get a loan for $60,000, especially at a reasonable interest rate, unless one has collateral. Student education loans are normally given on a year by year basis, in which case, interest will be added in successive years until one starts repaying the loan.

I would recommend minimizing the loan, and instead working part-time, and/or try to secure some grants or tuition waivers.
 
Astronuc's right, your more than likely going to need some collateral. have a look on http://www.moneysupermarket.com/loans/ to give you an idea of what you can expect.

hows the flying going anyway, that's something I've been looking into? Are you heading for your instrument training an what now?

i think i'd like to be a cooperate pilot, or just a private pilot for people that need flying - is that flying for hire? Or do you just mean you will hire a plane every time you want to fly. Guess that would probably work out cheaper wouldn't it. Upkeep, hanger fees an all that sure do add up!
 
Join the Airforce, train to fly for free.
 
Yeah, seems like going to the Air Force would be the "easy" way out.
 
Cheap but not easy. Also, the USAF isn't the only branch with planes.
 

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