Should I take out a loan to pay for flight training?

Question:
As you know, the cost of flight school is quite expensive. Do you think pulling out a 40-60k loan would be wise considering that in the beginning of their careers pilots get paid very little. If pulling out such a loan isn't feasible what are my options in paying for school.

Answer:
Most advanced educations cost money, whether it is an education from a university (Doctorate, Masters) or advanced technical training from a medical school or flight school. The question thus becomes: will you reap the rewards of such education? Unfortunately, only you can answer that question.

Much like doctors, pilots start their career earning very little and continue to earn very little for quite some time. It is a “back loaded” career. so you must be prepared to hike the road of Top Ramen and Star-Kist Tuna before you feel like you have “arrived.”

Let’s face it, since deregulation people don’t fly for the money. They fly for the passion, the drive, the love and joy of actually piloting an aircraft. With this in mind, I ask you; why do you want to be a pilot?

If you truly desire to become a pilot and are faced with financing difficulties, I advise you to take the time to visit an aeronautical university. They have financial aid offices that are equipped to help you find the money. Some schools will also hire you as an instructor, or otherwise, to help pay for your education. You are going to have to pick up the phone and ask.

Wishing you the best in your endeavors...

Regards,
Lori Clark