Funding for pilot training

[Suttonian]

Hi,
Just found this forum and find it great.
My question is this, how do any of you fund your private pilot training - PPL and Commercial. I want to get started and having gone down the route of CTC McAlpine application when I was 19yrs old (now 21) and getting to the stage before Sim test before being rejected, I don't think this would be open to me again. Anyone know if you can apply again?
Also I'm told the full cost of training to be a commercial pilot will be in the region of €90,000 (euro). Where do you guys and gals get this sort of money. Have you all got wealthy parents or have you taken out large loans?

I'd appreciate any advice on the dos and don'ts in this regard.

[redsnail]

Worked many jobs. Took out smallish loans to complete some aspects of training (eg instrument rating) in a timely manner.
I didn't have the money to go full time, wouldn't dare ask my parents to fund that.

[AIRWAY]

G'day,

Working and training ( flying ) at the same time more or less.

Working full time to pay for the flying... might resort to a loan once i get to IR stage, but until then im avoiding loans. It all comes down to planning i guess, it is achievable.

Regards

[rons22]

ou can save money by working hard for a few years and saving money. I worked as waiter and cab driver at the same time. You can save money in 4-5 years and since you are young you will still have enough time to go pro.

[Vee One...Rotate]

Just finished uni last summer. Working a job with a far from brilliant salary but hopefully will finish the PPL sometime this summer - at the very least before the end of the year! A bit of loan money may help me along but mostly trying to pay as I go.

Their are many routes to the commerical flying licence - set aside a few evenings (no, really!) and explore PPRuNe - especially the training/sponsorship forums. Find out about integrated and modular training, the differences/advantages/disadvantages/etc.

Good luck,

V1R :ok:

[smith]

I sold my house and bought a flat.

Now that summer has come put a postcard in the newsagent window advertising grass cutting, you'll be amazed at the response and its good money, you can usually earn £10 for a half hour cut. Work all morning then go flying/studying in the afternoon. Best of al, no boss to tell you what to do.

[bman0602]

Vee one rotate,

Out of interest did you have your student loan? Like you i graduated last summer and am hoping to complete my PPL in the next couple of weeks. Would like to take flying further however i had to start my student loan repayments in March and am going to struggle to find $ to pay both my uni loan and further my flying training! Just wondering how you're coping with it all?:confused:

[ATP_Al]

Bman,

If you're talking about the government student loan, it shouldn't be a problem. The amount you pay back is based on your gross income above £15,000pa. If you earn less than that or you don't work at all. All you have to do is send them a letter saying you'll be in full time education for another year.

I left uni in 2003 with a PPL and 300hrs, did six months temping and then took out a HSBC career development loan to pay for the rest of my flying training. I'm currently slumming it as jump pilot, where I get free accommodation and just enough money to start paying back my career development loan. I don't need or intend to make any repayments on my student loan until I get a proper job:ok:

Hope that helps,

Al

[wbryce]

I assume you are getting your pricing from a full time integrated course?

You can do your training in a modular route which will save you £££ and you can do it in your own time around your job.

For instance, I'm 19, I done my PPL in about 9 months...I achieved this by working full time and using my wages to fund the training. I'm now doing for my hour building, working week days, flying at weekends!

Doing it this way, theres no debt involved! ATPL Theory courses can be paid for with a few months saving.

Another few months of saving and a CDL loan will cover the CPL and IR but i wish to do my FI rating, so I may need a small loan on top of the CDL (8k max) to help me acheive both.