Originally Posted by
alexeyAP
I'm not sure what you mean by this. When I finish school I will be 17 and then I will pursue higher education in uni in something non-aviation related so I can have a secure stable source of income to fund my training and as a plan B if aviation doesn't work out. I am also committed to doing this with as little debt as possible simply because if I finish my ATPLs with 25k of loans (plus interest!) and cannot find a good paying job then I will not be able to pay it back (even if I do it will be a setback when it comes to mortgaging a property as I have additional loan repayments to make). Doing some quick maths:
- 4 years (if I'm doing a M) of uni brings me to 21 at graduation.
- Best-case scenario of a £50k p.a. job - let's say £45k after tax - I can live 'frugally' on £25k and invest/save the £20k left over. (£50k per annum if I work 2 jobs doesn't seem unreasonable depending on the field)
- 20k for 3 years (24-25 years old now) makes 60k on the upper end of a modular course (which let's face it will probably be on the lower end when I start training)
- Train modularly non-stop for 1.5 years (which brings me to 26-27)
- Fly for regionals/sightseeing tours/skydiving/banner towing/literally whatever for 2 or 3 years then graduate to an Airbus.
So as you can see my long-term plan (which you heavily suggested I stick to) will see me in the RHS of a Bus at best case maybe at 27 if I can get an airline job right after finishing training (not impossible if I pick my flight school right) and maybe 35 if it drags on. However your suggestion for me is to leave school, take out bigger and bigger loans to up my credit score until I can pay for a PPL and then...what? As mentioned above, no matter how well I do in my ATPL exams, airlines will be looking for
real-world experience (which is something that uni and a good job can get me). You make it seem like for some strange and unknown reason I'm intentionally putting off being a pilot until my middle years which is just untrue, every step in the plan above is one step closer to a seat in the cockpit. As I said already my family is not all that well endowed and there is absolutely no way I could have my mum sponsor me through modular right after I leave school (especially because she's just a few years away from repaying the mortgage and I'm not about to ask her to put the house down to fund me). And to add, if I had put in my top post that I plan to become a fully fledged pilot at 20 years old, I guarantee you that you would have tsked and thought "wow, that boy is naive". Motivation and perseverance are important but so is thinking realistically.
Sorry to bring some realism into it, but airlines don't require degrees, and they don't really care about real world experience, whatever that is. Unless that deal world experience is 500+ hours on a type they fly.
Now, if you want a masters degree, go for it. But in those 4 years you could realistically have a fATPL. There are a few points I made which I suspect you haven't understood fully - I don't want to sound like a patronising c**t, but I probably am so that's how it comes across. I'm not encouraging you to get into debt. You're a kid with no credit history. You're going to need a good one in life no matter what career you end up in. The way to get a credit history is to borrow and be seen to be paying it back. This advice goes for anyone: Get a phone contract and pay your bill every month - will you at least agree that you need one of those? Next take it a small loan of 500-1000 over a short period and paying all back. You'll pay maybe £50 in interest for a loan you didn't need, but you've now got a satisfied loan on your credit history. The more of those the better. Building a credit history takes time, so start asap. Get a credit card or two and keep the balance below 10% to get maximum points for utilisation. These are all practical things that will help you get a loan or mortgage later in life.
My suggestion is that you work like a bastard to save money. But there really is no point in saving it all up - because your goal should be to get into a flying job ASAP. Would you rather stay flying at 22 or 32? Be honest...
Dont worry what other people think - I would respect you more if you had said that you "want it all at age 20, oh and please give me advice to help me get there". We all have things we wish we had known or done differently.
A £25K loan from HSBC will cost you £335 a month. That's nothing for someone with 2 jobs and no outgoings.
Some people borrow ALL the money, some people save all the money - I'm suggesting 50/50 as a sensible and achievable compromise. This is the thing that you really
have to understand, and I'm not sure you do yet: People don't live forever, and Pilots have to retire at 65. That means you have a limited window to make money. A senior TRE might retire on £200k. If they had started their career ONE year earlier they would be £200k richer (less their wage before) - so let's be clear - you need to get your career started ASAP, and borrowing £25,000 while living at home and working 2 jobs is NOT a risky thing to do.
I'm not - as you interpreted it - encouraging you to take out loads of loans and get a PPL. In suggesting that you work hard, save up and along the way get a PPL, your ATPL exams and some hour building with that money. Then at some point borrow the remainder to accelerate your progress. Hour building can be done at weekends. The initial PPL can be done in the first year using your holiday allowance, your CBIR can be done in the second year in a similar fashion. Once you have you fATPL you're not going to magically get a job - so you can continue working just like before and use that money to pay back the loans early so the risk is negligible.
There's a reason people don't just save up their whole lives and buy a house when they're nearly retired.
Literally anyone who lives with their parents, has average intelligence and an EXCEPTIONAL work ethic can start with no money and be a commercial pilot in 3-4 years. Eat, sleep, work, fly. I've done my hardest to explain it to you but that's as much a I can do. I can't understand it for you 😜