PPRuNe Forums - View Single Post - All this talk of loans...why?
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Old 28th April 2008 | 08:17
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Wee Weasley Welshman
Community Builder
25 Anniversary
 
Joined: Feb 2000
: ATPL
Posts: 17,503
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From: England
Too right Adios.


I've given this advice many times over the years. If all you want to do is fly then forget University with its £3k a year fee plus living expenses. Get some good A-levels to show you're not thick then get a job - in fact get two. Stay at home, stuff the money in the bank/ISA and as the years trickle by start learning the ATPL course.

It really shouldn't be that hard to put away a £1000 a month as long as your parents are supportive and you get a half decent job plus the weekend bar work.

At the tender age of 22 you would have saved £48k plus compounded interest of £4k. That *IS* enough to do the Modular PPL - CPL - Multi IR and ATPL exams with a £4k contingency fund. Perfect.

So by 23 you've cracked it and you owe nothing. By comparison your mate who went to University is now in his first year of some mundane graduate training position earning £15k a year whilst looking at his £12k student loan. He's having to pay the rent + bills on a shared room as he had to move 50 miles away from home to get the job. He still hankers after persuing his flying dream - its just not looking possible for another 5 years..

Good luck, Sparks - 4 years will probably be the perfect time to sit out the house price crash and recession and airline contraction. You'll be fine.

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