Expert: D. Norkus - 7/24/2009

Question
Hi Dottie,

  I suppose my question comes in multiple parts and is relatively diffucult to answer but here goes:

  I have a private pilots license and a degree in Busines Administration from a respectable university.  I left Embry Riddle after 1.5 years but still ended up with large student loan debt (~100k).  Unfortunately, made a few stupid decisions along the way.  Live and Learn!!
   
   My question is:  What would you consider a next good step?  Taking money out of the equation which is obviously tricky here but I want to fly.  That's it.  I think I was meant to do so, I enjoy it, I could see myself doing it for a long time.

   The remaining ratings to work up to regionals or air taxi or touring the grand canyon in an Otter (whatever a first job flying might be).  At this point what is your opinion on the best way to go about doing this?  

   My thoughts have been to apply for a teaching assistantship at a school similar to Embry Riddle, Daniel Webster, FIT etc... and bite the bullet on paying for the additional training.  Perhaps fly at an FBO close the university and just chip away.  $7k-$10k for instrument, about the same for Commercial/ CFI.  Is it reasonable to think another $30k would cover what I need to start instructing?

   I currently work outside the aviation industry but would love to hear your thoughts on how I might get involved in an aviation related career outside of flying as well.  Might take me some time to build up the TT and ratings but if I can work/ be involved with the industry in the meantime, that would be ideal.

Thanks  

Answer
Paul,

"What would you consider a next good step?"

Since you have accumulated such a large amount of debt and only have a Private Pilot certificate, I would be hesitant to borrow more money for flight training. If there is anyway possible at all to cut your expenses (get a room mate, move with relatives if need be) and pay for things out of pocket as much as possible I would do that before borrowing more money. The industry is still contracting and further pilot furloughs are on the horizon for several carriers. This means it will likely be several years before hiring begins again as all furloughs must be recalled first. There is no rush to get qualified. Unlike a few years ago when hiring was brisk, you don't have to get all your certificates and ratings in a 12-18 months because you are losing seniority every day. If things turn around in 2-3 years that will be better than expected. If you can pay as you go that would keep you from increasing your debt level above $100K. New hire pay of $1500-$1700/mo take home is very little by which to live on and repay enormous student loans.

You didn't say what your total time was, but if you are close to the Commercial requirements you should get that and try to get jobs like banner towing, jump pilot, traffic watch or other flying that you can do with only a VFR commercial certificate. That way at least you are getting paid to fly while getting your next ratings. Depending on the operator and their insurance prerequisites, their total flight time requirements may be well over 300TT, but you might find an opportunity for less.

You should also investigate the Civil Air Patrol as an avenue to get involved in aviation for a reduced cost. The Civil Air Patrol offers cadets the chance to take orientation flights in powered and glider aircraft at no cost to them. "Paired with an experienced CAP volunteer pilot, cadets help preflight the aircraft, observe takeoff procedures and while aloft actually manipulate the controls and perform basic flight maneuvers. The program also enables cadets to learn about meteorology, navigation and aircraft instrumentation and technology. CAP Cadets fly approximately 16,000 hours in powered aircraft and 7,000 sorties in gliders each year." CAP cadet info-

http://www.cap.gov/visitors/members/cadet_programs/

Plus any other way you can split time to reduce costs, take advantage of it.
http://flightinfo.com/buildtime.htm


http://www.pilotcareer.info

Hope this gives you some food for thought,

Dottie