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lrittmer
Hello my name is Lance and i am looking at attending this flight school and the cost is $70,000. I have looked into getting a loan for the amount but i have been denied because my credit history isnt long enough. Is there any way i can go about reciving a loan with 15 months of credit history, no late payments, collections, etc. on my credit. They say i need to add a cosigner but i dont have anyone that is able to help me. So is there any thing i can do other then waiting around for 9 months for my credit to gain time? Another thing is I sold a property that I own that had a $88,000 loan on it and when it posted to my credit it lowerd my credit score 14 points. Is there any way i can get that back up? Any help or ideas will be much appreciated.
LynnInMN
QUOTE (lrittmer @ Jun 10 2009, 03:27 PM) *
Hello my name is Lance and i am looking at attending this flight school and the cost is $70,000. I have looked into getting a loan for the amount but i have been denied because my credit history isnt long enough. Is there any way i can go about reciving a loan with 15 months of credit history, no late payments, collections, etc. on my credit. They say i need to add a cosigner but i dont have anyone that is able to help me. So is there any thing i can do other then waiting around for 9 months for my credit to gain time? Another thing is I sold a property that I own that had a $88,000 loan on it and when it posted to my credit it lowerd my credit score 14 points. Is there any way i can get that back up? Any help or ideas will be much appreciated.



Thought of doing the air force route??

Honestly I have seen others on this board and other forums posting about flight school loans. They cannot afford the payments on the loan because of the low wages of co-pilots and captains. There was an article in my paper in the past month....starting wages aroudn $24k. Consequently flight school loans have a high default rae.
horak
completely agree.... save yourself the 70k in loans and join the air force. I had some friends do the same thing. You get all the flight hours required to be a commercial pilot by joining for a specific amount of years. and, its always great to serve your country (unless you may have an ailment). plus, having all that on your resume, you are more likely to land a better job.
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