Expert: David A. NewMyer - 5/2/2007

Question
David-

I'm 23 years old. I got my license in high school, went to Delta Connection through Jacksonville University to continue on my path towards a career in aviation. I had to stop training due to family and financial issues, and currently am still paying off student loans from that one year. In the year after school, unfortunately I let my loan default, and it is now consolidated through the U.S. Government. I am going between two schools to finish my training as a pilot for an airline. My top choice is Pan Am coupled with the UVSC global aviation program because of the quick training (10-12 months with the PPL I have all ready) and because of the demand for regional pilots right now. My ultimate goal is to be in a heavy 10 years from now, making the REAL money. Here's my question to you. What is the best way to find a way to pay for it? We would all love hundreds of thousands of dollars in grants and scholarships, but how much could really be out there?  After grants and scholarships, I will need loans to cover the remaining costs of training. Do you have any knowledge of how hard this may be given my history with the first loan? Also, how tough will it be to stay afloat with all the loan payments after graduating and flying for the regionals?

Thanks for your help,

Sean

Answer
Hi, Sean:

Ultimately, only you know your personal financial situation.  Therefore, with regard to the questions about how tough it will be to stay afloat flying for the regionals, I would say that you will have to find out what regionals pay and then figure it out from there.  A lot of people do it, but, it is not easy, that is for sure.  And, as you point out, the overall goal is to fly something heavier for greater pay (although some regionals do pay ten year captains at close to six figures).

With regard to aviation scholarships, there is a listing of such scholarships at these two websites:

www.uaa.aero

www.avscholars.com

The first website has a scholarship list with over $1.2 million in aviation scholarships and the second website also has some good aviation-related financial aid advice.

I hope that this helps!

David A. NewMyer, Chair
Aviation Management and Flight
Southern Illinois University Carbondale
http://www.aviation.siu.edu