Settlement offered to Silver State st...

Settlement offered to Silver State students

There are 71 comments on the The New Braunfels Herald story from Dec 29, 2009, titled Settlement offered to Silver State students. In it, The New Braunfels Herald reports that:

Some measure of relief could soon be landing in the mailboxes of former students of Silver State Helicopters.

Join the discussion below, or Read more at The New Braunfels Herald.

First Prev
of 4
Next Last

Newport News, VA

#1 Dec 29, 2009
This is a crappy settlement. No matter how many certifications received, if not a pilot, why should we be stuck with $17,500 in debt because the company didn't use student's tuition for the student who paid it, but rather for past students hoping to get future students. This is absolutely ridiculous and the lawyers should be ashamed at this settlement.
J M SSH victim

San Jose, CA

#2 Dec 29, 2009
As a victim of silver state, I want to point out some inaccuracies in your story. As many others have done, you stated it was a "student loan." It was not! It was marketed as a student loan, but we were all lied to. It was actually a consumer credit loan. We had no idea the entire $70,000 balance would be taken out immediately. Silver State was in collusion with its preferred lenders (yes, that is a difficult fact to prove). It is more than just "not fair" that even those students that received no ratings have to pay back around $18,000 (%25), that is fraud, theft.
Even those that did earn a rating or two, or three, are left with nothing. No reputable flight school or potential employer will honor flight certificates earned through Silver State; in order to become helicopter pilots most of us would have to start from scratch. The CEO, Jerry Airola, sold the company to an investment firm (EOS), made a hefty profit, and then as planned they filed for bankruptcy 3 months later, making an even heftier profit for them selves and stock holders.
Judith Stanton

Germantown, TN

#3 Dec 29, 2009
I plan to attend the meeting on January 12, 2009

Frisco, TX

#4 Dec 29, 2009
Go fly a kite and be done
James Padgett


#5 Dec 29, 2009
I say we all refuse to pay. Strength in numbers. I dont know about anyone else out there but with the economy the way it is I can not afford to pay one red cent. I am currently working on hardship papers just to keep my house. There is no way I can afford this debt, Much less the fact that silver state threw away my career and I have to make it which ever way I can.
Wong- AZ

Phoenix, AZ

#6 Dec 29, 2009
What a shame...All knew it was ponzi scam by the school and the bks and the rats that own it. The students were victmas of a scam ball.This type of trade school has come and go and taken with then the students money. NO ONE, no judge or goverment DO ANYTHING.You asked for help and they passed the ball.OHHH yes they do ---force the students to pay!

I was informed today, that AZ Attorney General was approched to be part of matter and he said he did not want to be envolved!!. A man place on his position to assist his AZ residents and said NO!!
Dan Matthews

Deltona, FL

#7 Dec 30, 2009
The only people who think that the settlement is a "good deal" are the ones that don't have to pay it. Former Silver State Helicopter students did nothing wrong but trust in a licenced and approved flight school, but may fail for doing so. When will the little guy be "to big to fail". The lenders loaned money directly to SSH in a manner non condusive to student training or good business.
This is an opportunity for someone to be a true hero by doing what is right not just what is popular. Where are our leaders who "represent us"?
David Winslett

Los Angeles, CA

#8 Dec 30, 2009
Silver State Helicopters did not hold up their end of the contract that was formed with the students. It really shouldnt matter how much education was recieved by any student as it is a Legal Contract and the students should not be held responsible holding the bag for something that was promised, paid for, and not recieved. Whether or not it was a ponzi scheme or just bad management of money, students made sacrifices and worked hard towards a goal that was never recieved.
Jahzeel Sequeira

Fort Lauderdale, FL

#9 Dec 30, 2009
As a former Silver State Helicopters student the settlement that as been offered is not fair in any way because I didn't even receive the complete training or any licenses like others may have but in reality I the deal was to become a pilot and none of us ever achieved that so in fact there should not be anything owe to anyone especially when all was a scheme from Cit Group and SSH.
Carlos Ventura

Miami, FL

#10 Dec 31, 2009
I plan to attend the meeting on January 12, 2009
venish robinson


#11 Dec 31, 2009
i cannot make the meeting but i show my support.. i am currently on deployment in afghanistan.
Wilbur Kookmeyer

Los Angeles, CA

#12 Jan 9, 2010
If all the students undermined in this scam put in $5 each, a hit could be put out on this Jerry Airola! He sounds like another Bernie Madoff! Dont pay a lawyer, put your money to good use!
Concerned American Citizen
United We Stand
Clay K

Gilbert, AZ

#13 Feb 9, 2010
Well regardless of the settlement, I am out of luck! My co-signer filed bankruptcy but could not include the so called ¨student¨ loan in it, and I just found out that I am not a part of the class and can not even receive the class settlement that has been proposed.... I was instructed to get with a lawyer to work on an agreement of our own... what would that be? I can declare bankruptcy because its a ¨student load¨ and I can´t get the loan dismissed because its not a ¨federal student loan¨? If you have any information feel free to e-mail [email protected]
Alex Z

United States

#14 Jun 30, 2010
Yes I like many is inthe same situation, these guys closed their doors basically over night, I am in middle of tryitn to purchase some property and this BS is lingering on my credit report, I never received a dime forom these people all the loans went straigh to SSH....this is complete crap!!!!!

Globe, AZ

#15 Sep 13, 2010
My husband is part of this scan with SSH, AZ location, his loan is with Key Bank who unlike Citibank forgave their debtors and the few left banks who significantly reduced the principal amount owed. He only has a privates license and I find it an outrage that Key Bank is not offering any deals for those over the "private license hours"! What's even more of a outrage is that his loan was for only $47,000, Key Bank is trying to get 93% in interest!!! This has got to be illegal to charge that much in interest, I am ticked, this is financially impossible to do. It is terrible how many were sucked into this fraud and the "cost" that has ruined their lives from this school. I couldn't be more ticked off about this until I found out that Key Bank is part of the bank bail out money and received $2.5 BILLION!!! Does anyone have more info. on what can be done on this, curious if any AZ students have filed a class action lawsuit yet? Please someone let me know. Thanks
Thurston Crane

Murfreesboro, TN

#16 Sep 16, 2010
Hello. I was going to be a student at Silver State at one time. I backed out at the last minute.It was a good thing that I did or I would be in the hardship with my fellow Americans that had a dream. The Goverment of this country says this is where dreams come true. I think that we should hold the politcians accountable for every time a company takes down citizens with no repercussions. I think that dreams are all that we have. Then have a wealthy individual step in a crush that dream like an ant is absolutely proposperous and should be making people hold their head down in shame when they screw someone out of that dream. I feel bad for you my fellow Americans. I think they should be held accountable just like the top dogs of A.I.G. and World Com. You should all fight with your politicians with a picket sign to have laws changed to protect others from this type of legalized fraud that has been forced upon you and your class that was there, that took the same beating as you. Thanks for reading this, and I hope you all do well in the future. Have a good afternoon.
SSH Crash Victom

Corpus Christi, TX

#17 Dec 1, 2010
Chino SSH student

Grass Valley, CA

#18 Jan 29, 2011
Haven't paid has anyone been able to file for bankruptcy to get out of this because it's not a federal student loan
This is Financial Rape

Glendora, CA

#19 Jun 14, 2011
THis whole thing is just horrible! Not only are the SLX loan students stuck paying a settlement that makes no sense, but our dreams got shattered aswell. ALot of us gave up everything to make a new career as a pilot. This was a childhood dream of mine... I had a great job making 72k a year that i quit, moved back home with my mom, and total went at this with 100% confidence i was going to be a pilot. Then without warning "BAM" the world was pulled out from me and im now stuck i a GIANT hole trying to climb out. I never got my job back, cant continue flight school as the loans on my credit from this are making sure that wont happen, and now gonna be stuck making another Car size montly payment for nothing. I feel i got Financially Raped and no one can or wants to help. One good thing from all this is Our Lawyers got rich, but then the down side of that was they stopped fighting once they got our money... I guess they felt that 75% forgivness was a "WIN" afterall isnt that what its all about for them?
THis is just my brief rant or story for anyone who feels my pain! By the way im one of 2700+ students... enough said
SSH sucker

Olathe, KS

#20 Jul 15, 2011
Has anyone received any statements or notice to start paying this loan back?

Tell me when this thread is updated:

Subscribe Now Add to my Tracker
First Prev
of 4
Next Last

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

New Braunfels Discussions

Title Updated Last By Comments
Nikki melburn May 21 Dog 1
Jessica fernandez (Aug '16) May 19 Fernandez88 20
News Neighbors want defense against barking dogs (Nov '08) May 19 Confused as well 22
we need your opinion on opening our second vie... May 16 pho rio 2 1
New Braunfels Music Thread (May '15) May 11 Musikologist 3
News Suspended San Marcos police officer back on duty (Jul '10) May 11 Nope 5
New wireless phone service in Schertz!! Apr '17 T-mobile Schertz 1

New Braunfels Jobs

More from around the web

Personal Finance

New Braunfels Mortgages