Real Answers from Real Pilots

Loan Pay-off

Hello Mentors! I am wondering if any of you have paid off your student loans. I’m about to bite the bullet on accepting a loan and wondering about y’alls experience with the loans. It’s so easy to say “heck ya…im approved! I’ll be able to make that paymemt!”

Richard,

My loan was for $60k. As an instructor, I was able to pay the interest. Now
that I’m making a little more at the regionals, my loan is down to $58k. I
should have my loan paid off by 2024.

Tory

Thanks for the response Tory!

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Richard,

The lending options were slightly different when I went through the program, but I took out a 15 year loan. By working hard and saving my money, I was able to pay the loan off in seven years.

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