Wannabe24
15th September 2005, 12:02
I'm at:
Just turned 24 years young, good academic background but no degree. Various IT accreditations for what it's worth! (I hear Airbus like you to be pretty computer savvy ;)) and a PPL with Night Rating - circa 100 hours. About £15k of funding available. Oh, and most importantly of all: A mortgage, a wife, and a kid! :eek: :eek: (I know, I know). Although, we could easily rent half the house out and wife could pay half a mortgage for a year.
I'm stuck with a choice:
Option 1: Take a fully integrated APP course at Oxford, resulting in a fATPL.
Pros: Their APP Program is very well respected among airlines and chances are I will find employment quickly. Any more?
Cons: No type rating at the end of the course (although the employing airline might include this, it would result in less pay and a bond). The price of the APP course will probably not be reduced to the point where I receive a full discount of £5k for my PPL. Thus would've wasted a couple of grand. HSBC loan would be £50k, after 5 years the interest would've pushed this up considerably. Can I really afford to pay back this loan over the next 10 years? Who will pay the mortgage? Am I asking for a divorce???
Option 2: Do a "Modular" (full time in my case, can commute to Oxford from London) course at Oxford, would cost £20k. Have £15k already. Then spend £20k on a type rating by taking out a HSBC loan (available through OATS). Loan is deferred until employment (I think)
Pros: Significant reduction in the amount borrowed (over half) resulting in a much more peaceful life. Will have a type rating, meaning more employment opportunities than most low hours modular pilots (I hope). Better pay with first airline, as would officially be a DEP pilot. No bonds. Better pay means paying off the HSBC loan quicker (it's already half of what it could've been if I went integrated) and no bonds, meaning better flexibility.
Cons: Modular students are at a disadvantage thanks to backwards minded, rich, up their arse posh types.
You decide! LOL, no of course, in my situation the modular route+type rating is better. But will I be on an level playing field with the integrated guys or will they still be at an advantage? and if so, why? More to add: I've never seen anybody compare the two routes in the way I have outlined above. Am I missing something??? Thanks all and good luck.
Just turned 24 years young, good academic background but no degree. Various IT accreditations for what it's worth! (I hear Airbus like you to be pretty computer savvy ;)) and a PPL with Night Rating - circa 100 hours. About £15k of funding available. Oh, and most importantly of all: A mortgage, a wife, and a kid! :eek: :eek: (I know, I know). Although, we could easily rent half the house out and wife could pay half a mortgage for a year.
I'm stuck with a choice:
Option 1: Take a fully integrated APP course at Oxford, resulting in a fATPL.
Pros: Their APP Program is very well respected among airlines and chances are I will find employment quickly. Any more?
Cons: No type rating at the end of the course (although the employing airline might include this, it would result in less pay and a bond). The price of the APP course will probably not be reduced to the point where I receive a full discount of £5k for my PPL. Thus would've wasted a couple of grand. HSBC loan would be £50k, after 5 years the interest would've pushed this up considerably. Can I really afford to pay back this loan over the next 10 years? Who will pay the mortgage? Am I asking for a divorce???
Option 2: Do a "Modular" (full time in my case, can commute to Oxford from London) course at Oxford, would cost £20k. Have £15k already. Then spend £20k on a type rating by taking out a HSBC loan (available through OATS). Loan is deferred until employment (I think)
Pros: Significant reduction in the amount borrowed (over half) resulting in a much more peaceful life. Will have a type rating, meaning more employment opportunities than most low hours modular pilots (I hope). Better pay with first airline, as would officially be a DEP pilot. No bonds. Better pay means paying off the HSBC loan quicker (it's already half of what it could've been if I went integrated) and no bonds, meaning better flexibility.
Cons: Modular students are at a disadvantage thanks to backwards minded, rich, up their arse posh types.
You decide! LOL, no of course, in my situation the modular route+type rating is better. But will I be on an level playing field with the integrated guys or will they still be at an advantage? and if so, why? More to add: I've never seen anybody compare the two routes in the way I have outlined above. Am I missing something??? Thanks all and good luck.