What happens when there's no mammy and daddy to secure the loan?

[nosefirsteverytime]

(before you ask, they are alive, and if I asked, they might be willing. It's a pride thing, I just don't want to burden them again. I won't ask them to be guaruntors! I won't!)

Right, I have myself, a 20k euro/year job, a car worth 2k, 2k worth of student loan debt, (cancel each other out really!) and a batchelors in Manufacturing engineering once I pass exams in May.

What options are open to me as regards funding a course? Above I've basically listed everything a bank will look at as regards giving me a loan. I don't think any of the above can be used as "capital" against a loan, and I can't see any other way of funding. I would love to do integrated, as I feel I learn better in a college type environment, but how can I come up with that amount of money (€100,000) on my current wage?

How did you fund it?

[lotis88]

I know how you feel as I myself rather be independant of the parents, but if you really want to become a commerical pilot, perhaps you will see that pride will not help in the long run.

I sourced different ways of coming up with the money but also being young meant this was a difficult task, the bank manager laughed at me when i asked what the damage would be in getting a student loan, needless to say, i had no choice but to ask the parents for help. So unless you are willing to pay the bank far greater amounts in interest for the sake of your pride, i suggest talking to the parents.

[clanger32]

Firstly, A lot of people on this forum when talking about what they can achieve on their salary totally forget to take into account small things, like the taxman wanting his chunk, the need to pay for food and lodging etc. You may be able to negate some of this by living at home, but if I had kids, whilst I'd be happy(ish!) to have them live at home, if they're working, they're paying rent!
So, that aside, if you're really adamant that you can't/won't go to your folks for help [for which, I for one applaud you heartily] then it would look like your only sensible option will be to save. Look at it as a litmus test of how much you really want to do this. It is possible to save the full integrated cost in a year once you have a couple of years industrial experience behind you, if that's the route you wish to go. In the interim, you can get a PPL or trial lessons to make sure you're not A) a total doofus in a 'plane and B) you actually enjoy it.

I would council, strongly, that you don't have to do it "now or never". There will be plenty of aeroplanes around for a long while yet needing pilots. Work hard in your current job (shows commitment and is a great fall back plan), save hard and in a couple of years you should be able to fund a good chunk of it debt free, plus all the other benefits.
good luck