It's probably pertinent to remind people that CTC is far from the only way into the RHS. Most pilots out there are not CTC. What about all the guys who took one of the various longer ways round and did all their hour building etc etc, turboprops, then jets? Sure it takes longer, but it's probably more affordable and certainly shields you from risk in a way that simply does not exist for CTC cadets, or anyone stumping up debt capital to an FTO.
As for "most medics" declaring bankruptcy, I'd like to see the proof of that from a reputable source. That sounds like a ridiculous and irresponsible statement if ever I heard one. The ramifications of an individual declaring bankruptcy are very far reaching, and "being in a stable relationship" is not some get out clause. If you're identifiably financially linked to other parties, your bankruptcy will drag down the collective credit rating. Plus, there might be employers out there who may rule out a person who is bankrupt on the grounds that they were financially irresponsible. Why would a bank or financial service employ someone in that position? That's a lot of jobs in the UK.
In other news, latest updates on placements/jobs right now is awful. Suffice to say it is what one would expect given the economic climate. Put on your wetsuit and snorkel, the water is cold.
Edit: The whole grad scheme pay thing - the average is a skewed figure, most grads do not earn the upper end of the scale, having a degree is not a guarantee of minimum income, more grads = more grad job competition = lower T&Cs, most grad jobs do not come with a golden handshake etc etc. djfingerscrossed may be in that percentile who can/have go there, but most people are not. The reality of the debt is that it is not feasible to be earning the wages of up to about a 25 year-old (perhaps more) and expect to have any meaningful amount of money left after the loan. Working 9 - 8 to have literally nothing is not possible and will destroy one's soul in weeks. Even having say 300 quid in your pocket afterwards allows you to errr... pay for petrol to get to work and back. Geee, those numbers just get worse, don't they? For all the people here without established work records and skills, if they don't get bailed out by M&D and have to swim for 18months, I would imagine they'd be fcuked.
Likely that HSBC would extend the repayment periods to stave off multiple bankruptcies.
From someone who is now in this situation and too deep to get out, I would advise people now considering to pause for a very, very big thought. There are lots and lots of other things you can do, and ways you can do it.
As for "no modular guys fly for big airlines" I don't think that's totally true either. I suspect it's much more about the way you go about getting your training and building proven skills. If "Big Airlines" just means BA, well golly they aren't the only airline in the world last time I checked.
Last edited by FeetUpHeadDown; 20th Sep 2008 at 10:05.