Self-funded vs academy sponsorship
Hi guys.
I am brand-spanking new to the forums and was hoping you may be able to provide a little advice. My apologies in advance if this is something you have answered a million times before.
I am just about to turn 28 and have always had the dream of one day flying. Now flying is an expensive business and up until now I have had no money to spare for what most people (read: parents and colleagues) have told me would be a frivolous endeavour.
Now I am about to leave my current employer with a redundancy payout that will sit around the £7000 mark.
So, my question is: What do you think would be my best route into the aviation industry, specifically as a pilot? £7k will just about cover the costs of attaining a PPL, but then I would need to put some serious thought into how I was to afford to step up to IFR and commercial. However, at least with this route I could dip my toe in the water as it were to see if I have the aptitude for such an undertaking. My only experience so far has come through a stint with the air cadets 12 years ago and a few chances to fly on visits whilst in college. I haven't sat behind the yoke of an aircraft in about 8 years.
The second route entails sponsorship through one of the flight academies. The amount of debt involved in this route scares the bejeesus out of me. I know that CTCWings specifically require the student to be in possession of a mortgaged property on which a loan can be secured. I am not a homeowner, however, I did consider using my new-found savings to put a deposit on a flat, so that I could then be eligible for the loan.
Any advice would be greatly appreciated.