Taken the Plunge...

[Dusty_B]

Hold tight riders, here we go...

Took the plunge last night, and, based on the views spread throughout these pages, signed up with Bristol Ground School for module 1 of their ATPL course.. .Mr Barclay has very kindly lent me the money too... <img src="wink.gif" border="0"> (I hope that CDL comes through by 22nd March) <img src="eek.gif" border="0">

This is quite a big deal for me, as I live and work in Kidlington. I had until just last week not thought about going anywhere else other than OATS for my Distance Learning course - Why phone in when you can walk? <img src="tongue.gif" border="0"> . .But in an earlier thread more people than voted for Will sang out their praises for BGS. (The other option was to go with Air Atlantic at Coventry, but no one else has said anything about them).

So, that's the first £950 gone. <img src="rolleyes.gif" border="0">

Haven't done my Class 1 medical yet - I'm very confident that I'll pass anyway (pass the lot at OASC in '99), and need the money else where at the moment.

I'm aiming to get the ATPL theory finished by this time next year, and my CPL(A) in the bag by the summer.

. .So that's me.

. .Now for the other wannabes: What is everyone else doing or thinking about doing?

[thedove]

Good Luck! me- hanging on for a while in my current job. PPL'ing and hours build until after the summer and see how the recuitment market is. Then either modular or integrated. Proably the former. Class one next week!

Have heard good things about coventry - but hey that's all second hand info so take it with a pinch of salt.

[Autofly]

I'm putting a business plan together so I can go and ask Mr. HSBC nicely for some cash. Dusty-B, i'd be interested to see how much you've borrowed and what you said to Mr. Barclay - if you could mail me that would be great.

If the sponsorships don't come round again in the Autumn then i'm going to go to ATA at Coventry. I've heard good things about them from many a PPRuNer and then, well where ever I like really. I'm hoping that by the time I finish the mrket will be on the up (one eye on the fATPL thread).

Cheers. .Auto

[spitfire747]

Good luck all. .I am a whisper away from deciding whether to go distance with my job now or chuck my job in in September and go to London Guildhall, still do not know, worried about self study!!

25K on a turbo sounds like a dream come true !

[BillyFish2]

Best of luck to you Dusty-B. Hope Bristol works out for you. Do get the medical sorted sooner rather than later. Mind you, who am I to talk, practically sold the farm and packing my bags for July and still haven't done the medical - but am doing it next week.

Dead right spitfire747,. .If someone said they could guarantee me 25k in the RHS of a turbo after my training, I would be as happy as a very happy person indeed. Of course no one will. There is no guarantees but it doesn't stop us giving it everything, does it?

[MJR]

Don't be too confident about your class one, I passed the RAF aircrew medical without a hitch and failed the class one. It was later granted albeit at an extra cost of £110, another day off work and £30 of petrol.

[BillyFish2]

A PS to my last message:

I've mentioned this before and it may be obvious to some, but you can get your local GP to check out nearly everything (except vision + hearing) on the CAA list of tests for a lot less than the £400 they charge. Probably only really useful if they find something that will fail you for sure. After all, some problems are fixable by exercise + diet.

[Dusty_B]

AUTOFLY (and others):. .I've just applied for a CDL from Barclays for £2500. That'll cover 80% of the course and exam fees, and some pocket money for the 4 weeks of groundschool. I tried bloody hard to explain that Flying Training is billed by the hour, and could I have some of this money in my own bank account, but they wouldn't have it! I paid the first installment (£950) by BarclayCard: BGS will refund me that if/when the CDL comes through. My intension was to hold the CDL myself, and pay for everything by Credit Card as the bills came in: Should the establishment collapse in the next 12 months, then BarclayCard _have_ to foot the bill, not me. Unfortunately, because CDLs are paid directly to the training provider in one lump sum at the start of the course, you're f**ked if they go under.

[Dusty_B]

MJR:. .What did you get caught on, and what did you have to do to correct it?

ALL:. .My current goal is to hold short at CPL(A), with IMC and FI ratings. There is no way I am shelling out for an IR/Multi/fATPL for a long time - I've got a huge mortgage, a dying car, a 1/5th share in an aeroplane, a student loan, a CDL... and a girlfriend (who is still a student) <img src="frown.gif" border="0">

[Autofly]

Dusty,

Do you intend to go back to the bank once you've done the exams to get some more cash for the flight training side???

I can see i'd have a real problem getting above 20k out of them to cover the groundschool and then go on to do the CPL/IR and possibly an FI rating. Its all a case of proving you can pass the course as far as I can gather.

Half the problem is like you say, the banks just don't have a clue about the way in which the training is paid for. I went into HSBC on Tuesday to get some info for a loan and they gave me a leaflet which highlighted that I could have all the course fees, 2/3 of my current salary to live on and extra for a car in the first year. The woman at the desk sat me down and tried to sort it out there and then. She soon ran off when I told her that techinically I could apply for about 70k. Oh yes, security, nearly forgot ...... at 25 of course i've got a house to put up against it <img src="rolleyes.gif" border="0"> .

I reckon i'll need about 30k to do it but to be honest I can't see me getting it. Like you say dusty, I don't want it all in one go, i'll have 4k to go to ATA then the rest about 6 months later.

The problem is the banks offer these loans and have no idea of the cost incured by self funded cadet pilots. Its about time they did their homework aswell as the applicants and tailored these loans accordingly.

(finished now). .AF

[ 14 February 2002: Message edited by: Autofly ]</p>

[Dusty_B]

Hehe! The books just arrived <img src="smile.gif" border="0"> . .Everyone at work is curious now; Even more so when I said it was a book that I just paid £1000 for <img src="eek.gif" border="0">

I've got 160hrs logged now, and only need another 60ish to get to the magic 100hrs P1. Because I'm doing those hours on my own aircraft, it'll only <img src="rolleyes.gif" border="0"> cost me about £3k to do (now I don't count this ongoing cost as part of the training costs, because I'd be flying once a week anyway). So the only 'training' outlay left is the CPL flying segment and test, which I think will be about £5k, right? There will still be enough in the CDL to cover that, if needs be.

(Not that I want to borrow any more - I'm over £100k in debt already, before flying training!)

Hmmm... money raising scheme: if anyone is looking for somewhere to live while at OATS, I could make my spare room free...!

[ 14 February 2002: Message edited by: Dusty-B ]</p>

[Bubble]

Dusty-B, you could ask Mr Barclays to pay out your CDL to the training provider in up to 5 instalments, that way, you'll have better control of the money (just in case the training provider goes bust). The other option is to have a word with your training provider and ask them to open a joint account (you and them), that way, the money gets transferred into the account in one go, but only with both signatures can it be withdrawn so you control when/how to use the money. I have done it myself.