Did an ATP in the States and a year or two later the school went bust. I was alright, but those who had just arrived and handed over their cheques prior to it folding lost everything. Don't become an unsecured creditor waiting for a few cents on the dollar months or years in the future.
With the global financial crisis having hit aviation hard, quite a few training establishments will have found themselves on shaky ground financially. Especially those who expanded too fast during the boom times and now don't have the income to service their loans.
Never have more on deposit with a flying school than you are prepared to lose. $1500-2000 in the flying account, the rest in WESTPAC/CBA/ANZ where it is guaranteed.
