Ok, I have just found this thread and it is making for interesting reading, as this is the debate that is going on in my mind at the moment.
I am 21 years old, in the final year of my university course now, and looking to fulfill my desire to become an airline pilot in the next few years. However, obviously, as pointed out, there are many more considerations that need to be taken.
There is no doubt that up £70000 and beyond is a massive amount of debt for anybody to obtain, and this is the fact that is scaring me above all else. For a loan that would cover those costs, I would be a long way in debt even into my 30s I'd expect. Which is a scary thought, as obviously, by the time I am 30 or so, I would very much like to be living in a house away from my parents. But with a loan of that size, it would be nigh on impossible.
The other cause for concern in my mind is that no matter which flying school I aim to go to, there is no guarantee of a job at the end of it all. Which would mean that I would effectively be up the creek without a paddle. At the moment, I am very much looking into Oxford and Cranfield on the Integrated Scheme. However, due to the fact that I own a PPL already, the modular does remain a possibility. I dare say that nobody in here will be able to tell me what the acceptance rates into airlines for modular candidates? The question that lurks in my mind is that if I was to spend up to the £40000 on the Modular, would I find myself in the same position as I could do with the £70000 loan and an integrated (f)ATPL.
Of course, on either route it is possible that I would find myself with a loan in between £40 and £70000 and no job in order to repay it.
Obviously though, it does remain to be my absolute dream to fly as a career. And personally, I would do anything I possibly could in order to achieve it.
Cheers
Chris