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Old 3rd Jun 2013, 05:27
  #62 (permalink)  
kingRB
 
Join Date: Feb 2008
Location: Australia
Posts: 565
Received 20 Likes on 7 Posts
McGrath if you crunch the numbers on any reasonable amount of debt, that CPI applied to the debt is actually fairly expensive. Yeah it's still cheaper than money from any financial institution, but if you only make minimum payments based on the income threshold for repayment, your debt will be around for decades.

Worse if you end up out of a job or not earning enough to make payments at all, that balance keeps increasing. It's not the free ride most students think it is when they agree to take it out. Borrowing upwards of $100K to fund getting into this kind of industry based on your only means to repay being in aviation could have the potential to financially ruin your life.
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