How do they fund SSTR's
The answer in this climate is with difficulty, however if you present a good plan to some bank managers they can still help you raise that cash, usually over a 5 to 7 year payback period.
A RYR cadet I know approached this bank manager after a meeting with a financial advisor and got the loan within 2 working weeks.
He then passed the information on to another cadet who also received the loan, and this was in the current economic climate.
If you already have a bank account which is well run (Not too often into the overdraft) then try you accounts manager at your bank first.
The other route has been the Bank of Mum and Dad, where most families have added the loan to the current mortgage, this is an option but some lenders are cutting back on this added expenditure.
Rich parents who already have the cash are few and far between, but they are out there.
Both the cadets I just mentioned are finished with their training and are flying on full Brookfields contracts, both with the bases they had as first choice.
The doom gloom merchants on here (You know who you are !! ) will have you believe that SSTR's and airlines like Ryanair lower the working conditions for the whole industry, this is a load of "Tosh" as it is in effect a form of self selection.
You have the motivation, are prepared to take the financial risk, have passed selection and have the money available. All of these are required before you get to that SSTR course.
People still fail the course, and that's a big expense, but put in the hard work and dedication and that jet job dream is just around the corner.
Most who "Bleet" that SSTR's are wrong are quite often the ones who are unable to raise the funds or have failed selection.
They believe that if the playing field was level they should have that jet job at no cost to themselves. (Why ? what makes you any different from the rest ?)
There is no such thing as a free type rating, you will end up paying for it somewhere, airlines are not charities, check ppjn for cadet salaries against full F/O rates of pay look at how much difference there is, so indirectly you are paying.
I was lucky in that when I started the type ratings were offered by the employer, however I have paid to get a rating and secure a job in the past.
SSTR's are like the 3rd world, they will always be with us.