funding my flying career!

[Channex101]

so now ive chose to start my PPL (which ive saved and budgeted 6k for :confused:)

after that im going to work towards my (f)ATPL taking the modular appraoch.
does anyone know of any good ways to fund my goal? im obviously working full time and saving as much as possible, raising money any other way i can, even thinking on remortgageing but does anyone know if career loans and such can help towards this, or whether you actually need a job first to secure a career loan.

again, all help appriciated! :rolleyes:

[expedite08]

After your PPL, firmly and positivly apply the brakes! Sounds like you have a house and a full time time job. ie your doing well for yourself! Go fishing in the Tearms and Endearment section and Wannabees forum and you see why I have said the above!

Fly for fun or in the Military (if you want a flying career!)

Have a great time on your PPL (Oh and please please please do not deposit that 6k in to some flying schools pocket!) Pay as you go! I say again Pay as you go!!

Happy landings :ok:

[Pilot DAR]

Channex,

I'll offer some kindly intended advice (for which someone is going to flame me) but it's what I would (and have) told my kids:

Funding whatever you want to do will likely require the support of someone who is further along in life (perhaps to hire you into that dream flying job, to which you aspire with that fresh ATPL). That person will have many applicants from whom to choose, so you've got to present better than all the rest, in as many ways as you can manage.

One way is strikingly good grammar, punctuation, and capitalization, in the things you write. It's not a requirement on PPRuNe, but none the less a worthwhile thing to practice anywhere you can. Perhaps your future employer is reading here!

I have hired a person based upon meeting them on PPRuNe, and it was in part based upon the way they presented themselves here...

Just some well meant mentoring advice...

And, correct, don't give a flying school a whole bunch of money in advance (unless they're giving you ownership of an aircraft you want!).

Best of luck, Pilot DAR

[Channex101]

PilotDAR, I do appriciate what your are saying, but you were right when you said, "its not required on pprune"
Its an internet forum, so please forgive me for not using the correct grammer. Rest assured, I wouldn't be filling in application forms the same way.
Thanks again though.

[Lister Noble]

Well there you go,

It's:}

[MIKECR]

Two options available:-

1. Career Development Loan.

2. Professional Studies Loan.

Both very similar to student loans i.e. deferred repayments with low interest rates. The CDL is roughly 8k maximum that can be borrowed, but the PSL can usually offer anything up to 50 or 60k(assuming you can secure the loan somehow... i.e against property or similar).

The PSL is the loan that most 'integrated' students apply for through the likes of HSBC, in conjuction with the respective flight training provider.

Both loans will require some form of business plan at the application stage. Unfortunately however it will be a hard job convincing any bank Manager that there are an abundance of Pilot vacancies out there, given the current climate! Best of luck though!

If you google CDL and PSL loans then you should hopefuly find plenty info.

[Miken100]

Have you considered the Medical requirements - a Class 1 medical isn't cheap but it may be a lot better to find out early rather than spend a load of borrowed dosh on flight training only to have the CAA medics at Gatwick tell you it's been a waste. Should be one of the first things you invest in.

[niknak]

Whilst I appreciate that there are other ways of doing it and that many of them are probably cheaper, enrolling on an initial course run by CTC or similar is probably as good as any way of discovering if you've got what it takes without blowing many £1000s.

Either way, if you've got what it takes and the cash to do it, it will work out for you, if you aren't suitable it will save you a lot of personal grief and cash.
At the risk of being blunt, you've got far too much to lose and a lot to gain but ultimately it's your shout.

The very best of luck to you.:ok:

[PAPI-74]

Good point about making sure that you have the minerals to see it through. Once you light the touch paper on the training, you must see it through or loose thousands – and I have seen many never get employed...ever. The glossy adverts dangle the lifestyle – that isn’t there anymore, but that is for another thread – and will paint a rosy image of the employment chances. Be cynical. Believe no one. Make your own mind up and visit 3 schools to see where you are comfortable.
I managed to acquire one of the HSBC professional studies loans for my modular training. My bank had to seek advice from the Oxford branch, as they were the most current with the process. The problem came when I couldn’t find a job and didn’t have enough to get my FIC – ‘banko de mother’ came to the rescue for that one. Anyway, the bank wanted their money after 18 months of stalling them so I had to remortgage our home (now with 3 kids), interest only, which is my current position. I instructed for a while and got a turboprop gig, in which I am grateful but well and truly stuck – no thanks to the CTC biffs out there on 6 month contracts (idiots!!!).
Tips –
*Be prepared to shut off everything to pass the exams - my wife went into labour during my Air Law exam, but I just made it....after finishing of course.
*Add 10-15% to everything, just in case.
*Never pay upfront. If you are unhappy with them, you will not see a penny back – see it happen.
*Buy the Elite flight sim. Single engine is fine for setting your scan up – saved me about £1000 in training (not the MS Flight Sim).
*Get a part time job that is for more than 16hrs per week (or that you can log 16hrs for) and claim benefit. If you were doing a BTEC in Carpentry, the state would pay for everything – aviation doesn’t count so get what you can. You can get council tax benefit one. Ask the C.A.B.
*The rest is luck – never pay for a type rating. There are many who have and never seen a job.
You will have highs and lows. Just keep your chin upto the light and keep your legs kicking.


Keep the faith amigo!

[A and C]

Any one who thinks that an integrated course is a good idea at the moment has a few screws loose, these guys end up paying for line trainning with the likes of Easy Jet & Ryanair!

Lets get this clear, they have a type rating, the aircraft they are flying is in service with paying passengers and these airlines are charging them IRO£15,000 to act as co pilot!

Would any Plumber or bricklayer who had the training all done pay you to build a wall or install a sink................. I think not!!!!!

The fact is these companys will let you do the flying that you have paid for and then chuck you in the "holding pool" and get another sucker that is funded by the bank of Mum & Dad to sit in the seat.

I know that putting bums on seats is the business of airlines but who twenty years back would have predicted that the most profitable seat an airline could sell was the co-pilots!

Take a good look at the wannabes forum and go modular, it will save you IRO £50.000.

[jez d]

Channex

If you are a UK resident then suggest you search the forums for information on GAPAN and the Air League.

Both of these organisations offer various forms of scholarships, sponsorhsips or bursaries for individuals who would otherwise struggle to pay for their commercial flight training.

Regards, jez

[Channex101]

A and C
Thanks for your adive.
Firstly, Modular would be the way forward. I can't afford to give Oxford or CTC £50,000 onwards.
Secondly, I have a mortgage to pay like everyone else! I can't afford 18-24 months off work.

Jez
Thanks for your advice too, I did look into those that you suggested, on April 9th! Closing date was April 8th, typical eh? lol

[7AC]

Channex,
My advice to you is slow down.
There won't be much hiring for about 3 years, the Ryans and those who pay them for positions have debased the career so I would think very hard about spending very much
to get into it.
If you are really determined then go the modular route but do not borrow if you can at all help it.
There is lots of enjoyment to be had with a PPL and "Permit to Fly" aeroplanes.
Join The Light Aircraft Association (LAA) and build up your experience and knowledge of
the aeroplane world and along the way you will meet people with connections who will
open doors for you.
Please please do not get into debt or prostitute yourself to the airline world.

[potkettleblack]

I think first you need to consider why you want to be an airline pilot and if you have the aptitude and are willing to make significant sacrifices in order to achieve this goal.

You should spend a lot of time reading the Terms and Endearment forums. It will enlighten you as to the T&C's on offer should you be in that small % of people that successfully gain employment after training.

The stark reality is that after all your hard work that you will more than likely never be employed. This could be for a number of reasons - fate, lack of flying ability, poor timing, bad interview skills, lack of technical knowledge, inability to network. The list goes on and on.

Should you on the other hand be successful then by far the largest employer in Western Europe is Ryanair. They require you to fund your type rating and in effect subsidise your own training through reduced pay initially. You will have no guarantee of which base you will be allocated on successful completion of your training. More than likely this will be away from your home and it may well be in a different country. You can bid for a home base but this will be subject to company requirements. You will work a 5/4 roster rotating between lates and earlies every other week. On your days off you can commute home on the jump seat subject to space available. In addition to keeping up your mortgage payments back in the UK and paying off any debts you have accrued on your training you will need to organise accommodation for when you are working. You could find yourself in a very expensive overseas base.

As other posters have said, do your PPL and build your hours. Talk to as many airline pilots you can and find out if this career is really for you and you are willing to make the necessary sacrifices. Professional flight training now is not recommended as the industry is in turmoil and will take years to sort itself out, if it ever does. Good luck.

[Biggles78]

As for funding your flying, a balaclava, screwdriver and a bag marked loot. :eek:

On a serious note, make sure you are able to pass a Class 1 Medical or whatever it is called in your country. No point spending the loot only to find out you cannot get a Professional Medical due to a colour problem with your eyes (or something similar).

Otherwise, Good Luck!! It's bloody good fun. Why work when you can fly for a living. ;)

[Piltdown Man]

...or you could borrow a handbag and a bit of lippie and get yourself down Piccadilly Underground station. But whatever you do, don't get into debt. It will be a millstone round your neck which will ruin you.

PM