Training funding??

[liquidhockey]

Hi all

I just wanted to ask you all if any of you have got a loan to pay for your FULL training. By that i mean £35k-£45k loan.
I am 18 and am not in the position of being able to save up my money to fund my training as i am not in a well paid job and would not be able to get in a well paid enough job without working for many years to get promotions etc. So it appears that i only have the one option of getting out a HUGE loan to paying for it.
This i dont mind BUT having done my sums i have found that on a £35k loan i will be paying nearly DOUBLE that back! Which is a hard pill to swallow.

I was just wondering if anyone else did it this way, how they got on, and if there is anyone in the same position as me (no licenses but iv started my PPL)

Thanks in advance
Dave

[Gin Slinger]

Dave, I know guys who have got HUGE personal loans from HSBC et al for £35,000+, and they're VERY brave taking such a huge gamble doing so.

It's not necessary.

I'm positive that the best strategy is to continue working and pay for it as you go long, as far as is possible. Even if you don't earn a fortune, you can reduce the over all cost.

Example: Do distance learning for your ATPL theory; take your time over things - you're only 18, so what difference in the long term between taking 30 months over all rather than 12??


[do you really feel you need to do a full-time course just for some salaried guy to read the key from the margin of a VFR chart to you? You're perfectly able to do so yourself! We're not talking rocket science here!]

I think one big thing that's often forgot is just how much it costs to live in London/Oxford/wherever for 6-9 months whilst doing ATPL exams.

Look above, GTS are doing ATPL distance learning for £1628. You've saved £3000 on course fees compared to a full time course already, not to mention 6 months of living expenses! (probably more than that...)