PPRuNe Forums - View Single Post - Loan for full amount of integrated ATPL training with BBVA
Old 11th Nov 2016, 21:39
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SeventhHeaven
 
Join Date: Apr 2016
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Don't take a loan out for the full amount .. it's just silly, especially when you're going integrated.

I know people that had 150 000€ debts after training, and 4 years later are still not flying. They pretty much ruined 10 years of their lives.

Other did get a job eventually, and live on less than 1000€. Sure, they'll be alright ones they get everything paid off, and get their command. But nothing takes the charm out of flying when you're stuck on an early standby, for less money than a burger flipper.

Note that it takes most people 18 months to get their first flying job. That includes all the people that walk straight into an FI job, or get cadetships. So it's not that uncommon at all to see people, 2 years out of training, still looking for their chance.

In my opinion, as someone who financed his own training without a loan, you'd be daft to do so without a job offer up front. Whenever people ask for my opinion, I always advise them to wait a year or so, work and save up some money. It puts the training cost in perspective; It takes WAY longer to earn the money than it is the spend.

If you know a little bit about loans and interest rates, you'll quickly appreciate that it is a LOT easier to pay off a 70 000€ loan than a 95 000€ loan. It all adds up quickly.

Best of luck fella
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