Paying for training - Loan

[ale.masetti]

Hi all,
I'm looking to start my training in November 2020 (in either UK or somewhere in the EU) and I'm thinking of how to raise the money to pay for the training. With everything I'm saving from my current job I'll be able to get just over 1/4 of what I will need to go to training. Has anyone gotten a loan without the need to provide a property as pay back guarantee, or found any alternative way to raise such amount of money? Has anyone got any tips?
Thanks,
Ale

[Bryan_Air]

Apparently these guys do non secured finance: PEGASUS PERSONAL FINANCE for flying.

Barclays used to do a further study loan of 10k for 2 years I think at 0%

Would be better to work and save it yourself so you appreciate it and it would make u hang on to it and get the best deal with flight schools.

[parkfell]

Keep working and save until you have 110% of what you calculate.
Groundschool, flying, accommodation etc.
Probably best to obtain your Class One Medical now, and do your PPL as the start of the Modular route.
At least you will know on completion of the PPL if the CPL/IR is viable in terms of ability.

Loans are not necessarily the answer as debt mounts without certainty of repayment from aviation.
A definite risk and the interest rate will reflect aviation training.

The tide will shortly turn and jobs a plenty might not last for ever.

[rudestuff]

What do you THINK you need? You can do everything modular for £40,000 so assuming you've got £10k, (assuming good credit) you can easily find the rest from loans and/or 0% credit cards

[Bryan_Air]

rudestuff, I think 40k is a bit cheap if MCC/JOC included, its possible but would have to be quite knowledgeable, maybe put ur best guesstimates down to help a few people get the best idea, am a bit rusty now on prices etc.

[Ollie247]

£40-45K is more than enough for the modular route. I've got multiple routes that have no higher cost than £45,000. I'm going through training now and if you look to learn smart and efficiently then the budget mentioned is more than enough.

[ale.masetti]

Thanks for all the tips everyone. The intention is actually going to the integrated training and my targeted raising is with some around 110%, which is good. The reason I don’t really want to wait until I’m able to raise all the money myself is because it will take good 3 years or even a bit more. Considering I’m already 31 I’m not looking to wait for that long. I’ll have a look into the different options you all suggested. Thanks

[ale.masetti]

Just cleared Parkfell! Thanks