Hi Spetsnaz,
Thanks for putting in the other side to this argument, and it is definitely something that I have considered. However, I have decided to go for the loan rather than long savings for several reasons.
- I am just about to leave university so I reckon I am in peak learning / revising state to have my best go at my ATPLs. (Please don't think I am saying older guys are worse or anything, its just that given the choice between learning now or in ten years when I have been out of the classroom for a long time, I am choosing now).
- Most graduate scheme jobs have a long contract due to the training that the commit to you, e.g. for ACA / CIMA etc. This would involve delaying my true ambition/dream which is to become a commercial airline pilot.
- Again coming back to the fact that I am just leaving uni I have no financial commitments e.g. mortgage / rent etc. that would make my life difficult should I decide to halt my income for 18 months. Having a family for instance would also make things difficult (again I am not saying that it is impossible for people with mortgages / kids etc. I am just choosing to make my life a bit easier).
- The industry is currently looking good (touch-wood!) and I reckon that OAT are doing really well at placing pilots. As to the industry in 18 months, who knows?! but its definitely better than it was.
- The grad jobs I've been looking at have pretty decent salaries to start off, so making the repayments (whilst obviously not ideal) would hopefully be manageable if I was unable to continue with my pilot training.
Overall I just think that this way is the best choice for me. Everyone has their own individual circumstances, but I just think that spending all that time saving is going to be time wasted at the end of the day as I would be doing a job that I hated for not very much cash.
I hope I have explained my reasoning, and I am open to any thoughts you might have.
All the best,
James