MPL vs Modular full time (vs part time)
Hello,
I'm a 30 year old political adviser and am currently saving to make the switch to aviation. I have about £40k so far and can save around £1500 a month. I'm weighing up what route to pursue - integrated is out due to the cost and so it's either modular or the EasyJet MPL in my mind. My plan is to save approx. £100k before starting training so that I can afford either the MPL, or modular plus a type rating. I have good credit and so can probably borrow £10-20k to start sooner, but I'd be nervous about the repayments in the event I don't get a job soon after finishing training.
The MPL has been my preference because as far as I can tell the cost is roughly the same when factoring in the type rating (MPL is £90k and includes type rating, modular is ~£60k and type rating is ~£30k so £90k total) but also comes with additional job security. I know that the job isn't guaranteed and EasyJet pulled offers during Covid, but from what I've read on this forum EasyJet has since offered seats to those who lost out.
It seems like the main risk of the MPL is that I'd be at the mercy of EasyJet and CAE. If things are delayed or something goes wrong, my training is delayed and there's not much I can do about it. Since the course is full time this would be a problem as I would have to cover the living costs for longer while not being employed. Modular doesn't have this risk, but there is a higher risk of being unemployed once I finish my training. I don't have any family I can stay with or can support me.
And if I did go modular, should I do it full time or part time? I like the idea of full time so that I can fully dedicate myself to it and get it done in a couple of years. My job can be all-consuming at times and it would be difficult to consistently train outside of work.
I would appreciate your thoughts and advice.
Thank you