Loans for Flying Training

[Jimmy89]

Hello everyone,

I am a student in Australia and I would like to be an airline pilot. I looking at a $60,000 - $70,000 course, possibly $90,000. I would like to know a good way to earn money for the flying training. I am starting work right now and by the time I start flight training I can expect to subtract $15,000 away from the total. But I'm not sure where I can get the rest, my parents could pay a fair bit of it. I would like to know if there's any other way of getting the money IF I won't have enough with my savings and parent's. Is getting a loan a good way to obtain the money? If so, can someone from Australia please name some good Banks or Loaning offices which can give a good deal? If there's any other way to obtain the money, please tell me. Thank you very much.

Jimmy

[Straightandlevel80kt]

Rob a bank?

:D

No, seriously, you sound like you have a pretty decent job. Why not sit tight and do it the modular way? So much cheaper in the long run. Don't overstretch yourself if you can't afford a type rating on top.

Aren't there still sponsorships on your side of the world?

Best of luck

[redsnail]

No there aren't any sponsorships in Australia. There are one or two cadetships, the best one is Qantas's. That will cost you about $90,000 I think.
A good way? Find a job that pays you the most. Best way to do that, be entrepreneurial, get a trade or get a degree.
Try to keep out of debt.

Most CPL's shouldn't cost you $50K or so. You don't have to get the CIR or Instructor rating. If you're smart, you'll get the CPL with a Night VMC on it and head north to get a scenic/charter job. During the wet, you'll go home and do the CIR then. You'll save some money doing it that way plus it's a tax deduction.

You are 14... have you thought about doing some gliding in the mean time? Any flying will do you good and you just might make the right contacts. Some (not that many) hours are transferable.

To be honest, many of your questions can be answered in D&G, Questions forum.