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How did you fund your training?

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How did you fund your training?

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Old 7th Feb 2018, 15:06
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Join Date: Aug 2013
Location: Cornwall
Age: 28
Posts: 203
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?
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Old 7th Feb 2018, 15:16
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Join Date: Aug 2013
Location: Spain
Posts: 167
Currently training, modular - funding half through savings and other half through loan.
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Old 7th Feb 2018, 17:14
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Join Date: Jan 2017
Location: EU
Posts: 130
I went the modular way full time after I worked for 3 years at my family's restaurant. Admittedly they still helped me with the whole thing and will help me a little bit more with an eventual type rating if needed. I worked, but have a supportive family that really did help me and still are helping. And I finished my training in 16 months.
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Old 7th Feb 2018, 20:15
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Join Date: Feb 2015
Location: UK
Posts: 226
Saved it all from working.
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Old 7th Feb 2018, 20:19
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Join Date: Aug 2013
Location: Cornwall
Age: 28
Posts: 203
Thanks for the responses so far!
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Old 8th Feb 2018, 12:11
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Join Date: Aug 2017
Location: Manchester
Posts: 64
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
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Old 8th Feb 2018, 14:28
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Join Date: Jul 2014
Location: UK
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Can you do the ATPL while still working?
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Old 8th Feb 2018, 14:59
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Join Date: Aug 2013
Location: Spain
Posts: 167
Yes, a lot of people have done it that exact way through distance learning schools.
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Old 8th Feb 2018, 15:56
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Join Date: Oct 2000
Location: UK
Posts: 511
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.
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Old 9th Feb 2018, 04:19
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Join Date: Dec 1998
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More responses from the same question asked previously: What did you do before becoming a pilot?? To pay for it?
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Old 9th Feb 2018, 11:07
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Join Date: Nov 2014
Location: go west
Posts: 309
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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Old 9th Feb 2018, 11:35
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Join Date: Aug 2013
Location: Cornwall
Age: 28
Posts: 203
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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Old 9th Feb 2018, 12:31
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Join Date: Jan 2017
Location: EU
Posts: 130
It is indeed a good moment to obtain your licence now, modular trainess are having their fair share of assessments as well.
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Old 9th Feb 2018, 23:00
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Join Date: Sep 2012
Location: Norway
Age: 24
Posts: 27
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!
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Old 10th Feb 2018, 10:53
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Join Date: Sep 2012
Location: In the flare
Posts: 37
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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Old 10th Feb 2018, 14:43
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Join Date: Aug 2011
Location: Planet earth
Posts: 22
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!
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Old 10th Feb 2018, 15:18
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Join Date: Jun 1999
Location: Give Current Ops a shout.
Posts: 952
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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Old 10th Feb 2018, 20:01
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Join Date: Aug 2013
Location: Spain
Posts: 167
Just curious - did you guys even self fund the TR?
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Old 11th Feb 2018, 07:10
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Join Date: Dec 2005
Location: UK
Age: 40
Posts: 862
I'm surprised no one has mentioned the Martin Lewis method..
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Old 11th Feb 2018, 16:52
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Join Date: Jan 2010
Location: London
Posts: 283
I funded most of mine through working extra hours however did take out a10k loan plus about 10k on a credit card.
Credit card was initially 0% for 12 months.
Still got about 9k left to pay however this has been split on to 0% balance transfers. I paid interested on my initial loan for about 2 years and it was about 9%. Then I got savvy and just keep bouncing my debt around paying it off slowly. Have to keep on top of the dates otherwise you get stung with fees.
Sainsbury’s were offering 0% balance transfer for 28 months with no fee! I transferred maximum amount I could so one of my credit cards is actually in credit. Have then opened a nationwide account that pays 5% on amount up to 2.5k. As I am using my credit card until it gets back to zero I have transferred my salary straight to nationwide so making money using credit.
I paid the banks enough in the first 2 years, got to get it back somehow.
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