The unfortunate thing is now that more and more airlines are taking the, "well if you can pay for your own ATPL, why not make them pay for their own type rating too" stance, another chunk of money there after.
So perhaps for example a recent one is you have to fork £20K just for the rating to jet a job that pays perhaps £25K first year and you have £83K worth of debt.
I imagine the total repayments would be £1160 a month !!(based on your £870 recalc figure of £63K) That means that you would have to earn approx £1500 (assuming 30% tax & NI) just to pay that bit back a month totalling circa £18,100 a year in debt repayment.
leaving you £7k to house yourself and live (£575 before tax a month left, that's £383 in your hand a month after tax & NI !!) all that assuming interest/borrowing rates at todays level, which they wont be !!
Sounds terrible, Imho it strengthens the case for modular over integrated as the £20K difference could be spent on the type rating !!
I am an integrated student due to finish training in a couple of months. Some people on my course love it , others wish they had never started and done something else with the money especially now that odds are high of having to fork out more for type ratings. (some simply wont be able to secure funds to do this with £60K already on their shoulders)
Regards & no offence intended.
Last edited by flystudent; 27th May 2004 at 07:58.