How did you fund your training?
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How did you fund your training?
Hi all. I thought it might be useful - seeing as the biggest passenger to the right hand seat is funding - to have a thread on how others funded their training.
I think it would be useful so that there was one place people could go to see how others did it and what method of training they undertook (i.e modular/integrated/integrated with airline backing).
So, how did you fund your training (BBVA/inheritance/savings etc)? Did you complete modular training? Were you integrated? What year and/or month did you undertake/or complete training?
I think it would be useful so that there was one place people could go to see how others did it and what method of training they undertook (i.e modular/integrated/integrated with airline backing).
So, how did you fund your training (BBVA/inheritance/savings etc)? Did you complete modular training? Were you integrated? What year and/or month did you undertake/or complete training?
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Sold my car for initial Amount of money for ppl and bought a cheap run around, borrowed the rest from my parents and paying back whilst working. This way just enabled me continuity with training rather than work - save - fly - repeat.
Hours, ATPL, Medical, CPL-ME-IR will all be paid for from savings / work over the next couple of years
Hours, ATPL, Medical, CPL-ME-IR will all be paid for from savings / work over the next couple of years
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Savings for me.
I got my PPL at age 17 and then plodded along gaining hours until I'd accrued enough money and hours to do a BCPL to CPL/IR Upgrade course. From BCPL to Frozen ATPL cost me about £35,000 in total in the mid-90s, that includes everything: travelling, hotels, CAA costs, etc.
No bank of Mum & Dad here, and thankfully no debts.
I got my PPL at age 17 and then plodded along gaining hours until I'd accrued enough money and hours to do a BCPL to CPL/IR Upgrade course. From BCPL to Frozen ATPL cost me about £35,000 in total in the mid-90s, that includes everything: travelling, hotels, CAA costs, etc.
No bank of Mum & Dad here, and thankfully no debts.
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modular, started in 2014, finished couple of months ago. Savings and work all the way, sometimes taking overtime, no loans, no bank of mammy and daddy. Will begin a bonded TR in a decent airline next month, super chuffed!
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Fantastic to hear not everyone pays out the massive amount of money some of the bigger flight schools are looking with positive results - without risking of getting on to another subject entirely, the modular route is looking more and more promising.
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Worked three jobs and crazy hours before leaving for flight school. I'd say I've saved up for flight school since my first paycheck at 14. I was only able to get a small loan, since my parents had just split up and were trying to sell the house we had planned to use as collateral for my loan.
I'd say that I valued the education more since I worked so hard to get there. We had some kids there who didn't really want to be pilots, but their rich parents thought it would be a good idea. We also get study grants and small low-interest loans through the government, which helped a great deal.
A year and a half since I finished with everything and I still don't haven't found a flying job. What I have managed to do is pay off my flight school loans, so at least that's something!
I'd say that I valued the education more since I worked so hard to get there. We had some kids there who didn't really want to be pilots, but their rich parents thought it would be a good idea. We also get study grants and small low-interest loans through the government, which helped a great deal.
A year and a half since I finished with everything and I still don't haven't found a flying job. What I have managed to do is pay off my flight school loans, so at least that's something!
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I would wager that half, if not a majority of cadets joining airlines on jets will be from an integrated route that costs big bucks and, in the majority of cases, are bank of mum and dad funded.
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Saved up some of it to be accepted by the bank to take up a loan. No help from family etc. Ended up with a 9+ percent interest in my bank post financial crisis. Managed to finish the loan in 9 years. 11 years ahead of the projected time.
I am utterly surprised as to how many of my colleagues managed to get a "loan" from family or just directly got everything paid for from day 1. I would say 80% of the people I fly with who have less than 2K hours on type has been fortunate enough to escape any sort of bank loan. I must admit that I sometimes envy them, as many of them are financially just as well off as I am even though they are almost 10 years younger than I am. But hey. Good for them!
I am utterly surprised as to how many of my colleagues managed to get a "loan" from family or just directly got everything paid for from day 1. I would say 80% of the people I fly with who have less than 2K hours on type has been fortunate enough to escape any sort of bank loan. I must admit that I sometimes envy them, as many of them are financially just as well off as I am even though they are almost 10 years younger than I am. But hey. Good for them!
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I worked for 4 years flat out and saved up the cash and went through the modular route, this was all back in 1997. I am so glad I did it, its the best job in the world if you are motivated and passionate about flying.
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Funded mine through BBVA, finished in 2007, integrated and luckily for me straight into an A320 with the type rating paid for, because thats just the way it was pre-financial crisis.
I realised at the time how lucky I'd been but in hindsight I realise I was ridiculously lucky.
Quite how people are meant to find the money now BBVA have exited the market for pilot loans is beyond me. Fair play to anyone out there who is working overtime to get the money together by any means possible.
I realised at the time how lucky I'd been but in hindsight I realise I was ridiculously lucky.
Quite how people are meant to find the money now BBVA have exited the market for pilot loans is beyond me. Fair play to anyone out there who is working overtime to get the money together by any means possible.
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Interesting read. The reason that prompted me asking the question was looking at the likes of L3 and on linkedin and seeing just how many people were having to pay out huge amounts of money - and the question to me was "how can these people afford it?".
Of course, there are lots of people from different financial backgrounds but the figures involved for integrated training and then a TR on top are mind boggling.
After coming very close, TWICE, for a fully-sponsored cadetship (10 points for anyone who can guess which one...) and ultimately being unsuccessful has led me down the route of saving to go modular, putting away £1000 a month from my wages. It'll take me a while saving, but a good route in nonetheless.
Of course, there are lots of people from different financial backgrounds but the figures involved for integrated training and then a TR on top are mind boggling.
After coming very close, TWICE, for a fully-sponsored cadetship (10 points for anyone who can guess which one...) and ultimately being unsuccessful has led me down the route of saving to go modular, putting away £1000 a month from my wages. It'll take me a while saving, but a good route in nonetheless.
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Held out for a long time and finally managed to get sponsorship with an international airline, they give a training allowance during the MPL course and I repay once flying for them. Really is the most fair method but unfortunately nothing of the sort around anymore!
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I came close to getting a fully funded cadet programme myself, few and far between these days. Thankfully my current role has allowed me to save a bit and that's something I'd like to continue into the future.
I'm guessing that a couple of the recent posters' favourite colour is green...
If I could start again at 18, assuming no fully sponsored programmes were available I'd go straight for one of the better apprenticeships, though I imagine the military is also an option for some. Both are a good way of saving dosh and the latter is a bit longer-term with some serious life experience on offer.
I'm guessing that a couple of the recent posters' favourite colour is green...
If I could start again at 18, assuming no fully sponsored programmes were available I'd go straight for one of the better apprenticeships, though I imagine the military is also an option for some. Both are a good way of saving dosh and the latter is a bit longer-term with some serious life experience on offer.
