how did you pay for your licenses??

[Kiev23]

I was just wondering as a wannabe pilot, how did you guys fund your ATPL and PPL licenses??

[AlphaMale]

Not sure what answer your looking for here ... or what you expect.

There are only a few ways of doing it - in which case there are plenty of 'funding' threads here or pprune.

I will be working hard in my 9-5 office job and saving/selling everything I own (Motorbike & Car) for PPL/MEP/ATPL exams/CPL/IR and then I'll fund my FI with the help of a CDL that should get me my first job in aviation.

My plans keep changing the more I read about the schools I choose.

Integrated students seem to go down the HSBC route and get a £50k loan.

What are your plans Kiev?

[redsnail]

Oh the usual way.

Robbed a few banks.
Mugged some old frail folk.
Doctored up a few pics with photoshop and held the person to ransom.
Passed off aspirin as eccy at the local raves.

[KeithTo]

This shall be my first smart post.....I'm using money:eek:

[AlphaMale]

I'm using money

That was going to be my answer but being his first post I thought I'd take it easy ... for now :E

[MarkyT]

Get a job! Only joking mate, i went leeds uni and they gave me 1,500 towards ppl! Most people get loans, but if ya got a relative in ireland. They can loan you the 40 to 60k (depends where u train) and get tax relief so they'd be up for it. Also you'd get a 0% intrest!!!!! Just an idea, as thats what i plan to do. good luck:ok:

Mark

[Kiev23]

Well im only 16 at the moment doing my A levels, so i was thinking of getting a job when i leave in 2009 but it will take me ages to save like 70,000 then it might be too late to start training.....

[AlphaMale]

Your 16 now and ideally you'd be better of doing your training on the younger side of 30.

You have over 10 years to save £70k to do your training debt free ... that is some achievement! £70k means you've probably opted for the integrated route already?

If you saved for your PPL for the next 2 years I'm sure you'd have your PPL by the time you're 19. At which point you have the option of Job or Uni (this is another thread in it's own).

If you got yourself a job you've have the outstanding £30k call it to get to the fATPL within 3 years? so at 25 you'll be a debt free fATPL pilot.

If you go to Uni then you have a back up career and more life experience albeit with a small student debt. After finishing Uni work for £20k+ per year and then spend your hard earned cash on training, you'll probably be in your late 20's and have a BSc/fATPL/Life experience/Debt Free.

Can't really help on the £70k route as I've already cut that option off my plan. But your best option might be go to the CTC route, only 2% of applicants get in but you're pretty much guaranteed a job afterwards. You can get a £50k loan on integrated routes which will be a help too.

Good luck.

[G SXTY]

At 16 you have all the time in the world, and you can obtain a frozen ATPL for a lot less than £70k. Consider a degree if you're academically minded, as it will open up jobs (and hence funding opportunities) that would otherwise be closed to you.

Once you're working and earning money, you can fly and/or study in your spare time and fund it as you go. Like many people I managed to do my PPL, hours building and ATPL written exams while working full time. It obviously took longer than doing them full time, but it meant I had zero debt - I only needed to borrow money for the CPL and IR.

Typical cost for the modular route - £40-45k.

[Groundloop]

i went leeds uni and they gave me 1,500 towards ppl!
Yeah, but didn't YOU have to give Leeds Uni about £9,000 (3 x £3,000 tuition fees per annum)!!;)

[nickmanl]

If you are thinking of taking a loan out to finance integrated ATPL I believe a degree is useful. The banks are going to want the cash bank whether you are flying or not and are going to examine you and your history to see if you are capable of repaying the money should the aviation industry hit a rough patch for a while and job oppurtunities become few and far between.

[wobble2plank]

Cash,

Tried sexual favours but ended up having to pay out :sad:

paid cash again

[bos47]

Marky,
Can you give me a little more info on what you said about tax relief in Ireland??

Thanks

[MarkyT]

LOL, my fees for uni are only 1500 a year, i don't pay 3000:}! Yer i've paid for a degree but the experience you gain is by far worth it. 24 hour drinking, party after party! Oh and learning! Plus i know about 50 soon to be pilots which will be useful contacts in the furture!

Mark