Oxford APP and financial assistance

[rob152]

Hello all,

Just wondering if anyone can give me some general advice regarding the integrated APP course run by Oxford? I am continually hoping to gain sponsorship but if I, one day, become too old before succeeding I want other avenues to explore. I enquired with Oxford, who kindly posted a brochure listing all of there courses and the APP course was, obviously, one of them and I found it hopeful that HSBC support's wannabee's who don't come from wealthy background's and work alongside Oxford to give people like me the opportunity to achieve their lifelong dream's. Has anyone gone down this road? I'm financially planning for it by paying off all those disgusting credit card bill's etc etc and I plan to be in a better financial situation in about 1.5 yrs, simply because I'm studying full-time for another 6 month's! I will certainly continue to apply for any sponsorship's that become available but I refuse to walk away from such a passionate ambition of mine should I not be successful with sponsorship. I'm more than prepared to do what it takes but would be interested to know how the re-payment's etc work if anyone know's?

Any reply would be greatly appreciated and I thank you for taking the time to read!

Thanks, Rob152

[lockton9334]

I have recently passed the APP Selection Process at OAT. This pass is valid for 12 months and depending upon how well you do if there is any more "sponsored schemes" such as Excel and Thomas Cook, you may be eligible to enrol - depending upon other qualifications e.g. A-Levels and anything else the airline wants to check i.e. another sim check etc

If there is no sponsorship, OAT provide you with a business plan to help secure up to £50k with HSBC (secured, 2% above base rate variable + another £20k (possible) for type rating if required)

If i remember correctly only 2 people have been turned down by HSBC, 1 was because he turned up in jeans & t-shirt, the other hadn't told parents he was going to secure loan on their house!

A good person to speak to at OAT is Mike Griffith.

Hope this may help, let me know if you want a copy of the business plan e-mailing to you.

Jonathan

[moo]

Rob,

I used the HSBC for approx. 30K and they wanted that secured, not sure what you can get unsecured these days, there seems to be no answer to that. Do a search and you'll see what I mean. If you think you're going to need the HSBC loan in a couple of years then I would switch your account to them if you don't already bank with them. They like to see a bit of your banking history with them.

As a rough idea, a friend of mine got 65K, he trained at Jerez and the repayment schedule for him is 10 years at approx 800 pounds a month!!! Which sounds horrific (which it is!) but divide 65,000 by 10 (6500 per year) and divide that by 12 and you get 540 pounds per month and of course that’s with no interest!

A good business plan is essential though, I didn't get my loan via Oxford (although I believe you have to now - to get the Professional studies loan) and the Branch Manager I dealt with had absolutely no idea about what it was all about but thanks to a well-prepared financial plan, he was suitably impressed and gave me the cash!

Hope that helps……one other thing…….before writing your business plan, you may want to read up on the usage of apostrophes!! ;) :E

moo