Fort Worth helicopter school closes, students left with loans and no license

by PegNews wire

Silver State's financial practices were a bit suspect.

The S-T's Watchdog!, a.k.a. Dave Lieber, reported on a recent flight school closing that has left several North Texas students' futures in jeopardy. Silver State, a helicopter flight school based out of Las Vegas with a branch at Meacham Airport, declared bankruptcy in February and closed all 33 of its schools nationwide. Many were closed mid-program, meaning the students who invested upwards of $70,000 in the school not only lose their investment, but have no pilot's license and may begin to owe payments on their loans soon.

Silver State is currently under investigation for allegedly knowing of its financial status and intent to declare bankruptcy, but continuing to enroll students and accept tuition. While some of the lenders are holding off on collecting loan payments, the students have few choices and are unlikely to receive much, if any, restitution from the lawsuits.

Posted by Erin