Absolutely my point a few posts back.
I have no problem getting a personal loan for a rating-e.g. instructor rating, but to get a whole course-integrated or modular-on a loan is madness.
I haven't checked your figures Gus, but they seem to ring a few bells from when I looked into it a while ago-if you search my posts I did a breakdown for all to see some time ago which broadly supports what you say. If I can find it I will re-post it here later.
I am always on the lookout for that golden opportunity that will give me what I want (TP or jet) FAST! However, in the real world instructing will be my way in, and I'm happy with that. Being paid to fly...that's all I really want.
Bri
FOUND IT-I was looking at the Hubair Aviation course at the time, 0-fATPL without TR. Bear in mind this estimate is optimistic about your job prospects!
Ok, so you take out the loan for the course. Thats 85000Euros near as dam it.
Thats £58k more or less. You will need a few thousand for living expenses, flights to and from France/Belgium etc. Call it £60k conservatively.
Lets say that is repaid over 10 years (typical for professional studies loans). The you can bank on paying £600 a month close enough after qualifying.
Typical F/O starting salary-call it £25k. That is £1561 per month (after UK tax). My monthly ougoings-rent/council tax/utilities etc is £600 per month.
That leaves £361 per month for food, a car, new shoes etc.
It only just works. If you have to pay for the TR as well, it doesn't add up to me!
Am I missing something?
Bri
Last edited by bri1980; 16th Aug 2007 at 14:18.
Reason: Found the figures