<p>I ask because a program I want to get into (piloting) at my potential college costs around $45k over 4 years in flight training costs, but this is split up over 4 years.</p>
<p>Freshman year = Private Pilot License = $10,000
Sophomore year = Instrument & Multi-Engine Certifications = $21,000
Junior Year = Multi Engine + Flight Instructor Certifications = $7,500
Senior Year = Instrument and Multi Engine Instructor Certs = $6,500</p>
<p>Could I do this with loans? Or should I just ask for like $45,000 up front and use it when I need it (can I even do that"?). I'd rather get all of it up front because the program allows you to go at your own pace. I could do all of that in two years instead of four and spend my last two years instructing for the college for money to pay off the loan early. </p>
<p>I don't have to worry about tuition and room and board. Tuition is going to be free for me and I'm going to live at home half of the time and get an apartment the other half of the time (the dorms are awful).</p>
<p>Also, I'd need a cosigner for this right? My parents won't be to hot about that.</p>
<p>It’s not a good idea to borrow all the money at one time because interest starts being charged from when you first borrow. So, you’ll be accumulating interest charges on money that is just sitting in your account for a few years.</p>
<p>What is going to pay for the apartment for half the time? </p>
<p>Better find out if your parents will co-sign for each year’s loan.</p>
<p>BTW…the payments are going to be about $600 a month (could be more if you don’t get a good rate.</p>
<p>The apartment will be paid for with a part time job. I’ve been holding one for about 6 months now (I’m a HS Junior) and I’ll be holding a job in some form or another until I graduate.</p>
<p>Hmm, $600 a month? If I can make enough to pay off loans, fly and live on ramen noodles I’d be happy! :p</p>
<p>That is the minimum. If your parents won’t co-sign, then the loans will not only be costlier, but you’ll have to make interest payments WHILE you’re in college. </p>
<p>Believe me…paying $600+ a month for 10 years will get old quickly. That will be during the years that you’ll be about 22 - 32. I doubt you’ll enjoy living on ramen noodles in your late 20s or early 30s - when your peers will be likely married and living nicely.</p>
<p>How much do you think you’ll be earning after you graduate?</p>