How much for OAT APP loan
HI there. Im in a bit of a pickle here and would appreciate some much needed help.
Ive recently completed assesment at OAT for their APP program. Whilst this is great, im a bit stumped on how much (realistically) i'll need for the shortfall. The course is £60,000+ £4000(CAA fees) = £64,000. HSBC will only lend £50,000, which already leaves 14k to be found.
In anybodys personal experience, how much extra was needed (honestly) for living and food etc.
Im thinking about £6k for the year and food in the UK, including food in the USA.
But assuming I finish the course succesfully, how does type ratings work with airlines?
Does it work that they offer the job to a low hours pilot, who then has to take out another loan for the type rating. I know this can be about 20k; do the airlines pay for it, and pay a "cadet" salary or would I have to take out the loan on my own back??
Im just so concerned about money here and although the prospect of flying looks amazing, especially with my APP place, my vision is simply clouded by a smoke screen of debt. Its not that im not prepared to make this investment, rather id appreciate someone whos already done been theres' feedback and help.
Yours cordially,
SI