I hope this is useful to some of you! I have spent along time discussing with schools and other students approximate costs of abtaining a frozen ATPL. I have come up with the following figures. These are based on modular/distance learning.
PPL ( Private Pilots License ) £4,900.00
Night Rating £600.00
Hour Building ( Florida ) £3,500.00
ATPL Theory £1,900.00
CPL ( Comercial Pilot License ) £6,000.00
IR ( Instrument Rating ) £12,000.00
Additional Course Costs
Class 1 Medical £400.00
PPL License Issue £207.00
ATPL Exams £718.00
CPL Skill test £564.00
IR Skill test £564.00
CPL / IR License Issue £172.00
Equipment
Misc £400.00
Total £31,925.00
I have planned to do all flight training with Leeds FS ( a plug I know but they have been exceptionally helpful and I would recommend them to anyone at any stage of their training ) & Bristol for the ATPL course. I haven't planned how I'm going to build 100 hours for £3500 but where there's a will . . .
Now how to pay for it! I approached my bank and simply asked how they thought I could raise the money. I went in jeans & t-shirt and a print out of the above costs. Admittedly I never intended to get a loan, I was just looking for advice. They turned round and said no problem - we can loan you the money! After picking myself up from the floor and composing myself we discussed a few things and I'm going back for final discusions in a few weeks. I have been with my bank for 8 years and I have a good relationship with them. They are trying to provide a loan for the full amount ( unsecured - I'm 26 living at home and there is NO WAY I would even consider asking my parents for the house as security ). I will work full time while doing the modular training so I can start to pay the loan back and then arrange a 3 year payment window after I'm qualified while I get into a good position.
The point I'm trying to make to other wannabe's is that I have put in a lot of effort just to get this far ( and I haven't really started training yet! ). It is worth going through PPRUNE postings for advice, but at the end of the day your doing this on your own. Its worth talking to accountants or anyone with a financial background for their advice ( they usually will know of good money raising scams! ). I got out there and met a lot of people. I think that if you have the right attitude then banks will help. I agree with another post on this matter that there are some banks that simply do not understand the nature of a commercial license and may turn you down straight away. If this happens then don't give up - even try the same company but a different branch. If you put your mind to it - you can do ANYTHING!
Good luck and I hope this will be of some use to someone!