VC10
Quite correct! I was dealing in Euros and not STERLING! I keep forgetting there is a massive difference, and when you put it in terms of 700Sterling a month it's a lot of dosh! However, might it depend on whether the loan is a personal loan or a remortgage, at lower interest rates. I guess for FLying Spanner, the option of doing it all in a nice neat package is appealing, but it is very true that that is an option for people who really do have the money upfront and won't miss it too much when it's gone!
Very true about the fact that you will not get to own a house of your own! As I said before, I am 36 and living at home, with no hope of a mortgage until I am a couple of years into a flying job.... that may well mean in my early 40s!!! But what the hell, I'm doing it anyway. So I guess the best course of action is this, assuming that there is no 70,000 laying around then?... job and PPL...part time job and distance learning ATPLs ( NOT EASY!), or possibly 6months off and full time ATPs.... work and hour build....work whilst completing CPL ME/IR, Night and MCC, or at that point you may be in a position to borrow A LOT LESS MONEY and complete your training full time, although on a modular basis.
Flying Spanner, it won't feel half as scary to pay back 20,000 if you can fund yourself as you go....and it also gives you the chance to assess yourself during the course of your training to see if a) you can do the job at hand and b) whether or not you still want to do the job! It also takes some of the pressure off what is a very intensive program of training I would imagine.
You sound as if you are relatively young so don't forget you have time on your side, I don't really but I am no longer worried, if I get to only fly turboprops for a small regional then so be it!
If you have not yet started your PPL, you may already have it?,
then maybe go modular and concentrate on that! Work part time, get a trade or some qualification which will guarantee you employment easily when times are lean so that you can get by.
Anyway, it's all up to you in the end but integrated is NOT the only way and modular does NOT mean that the airlines will look down on you...at least I hope not but it doesn't bother me one bit! Enjoy it and try in every way to lessen your financial burden.
PS, I am conviniently avoiding the cost of my type rating, but that will come later.....
Cheers
Last edited by powdermonkey; 10th November 2005 at 10:35.