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How did you fund your training?

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How did you fund your training?

Old 7th Feb 2018, 15:06
  #1 (permalink)  
Thread Starter
Join Date: Aug 2013
Location: Cornwall
Age: 29
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?
FlyVeryHigh- is offline  
Old 7th Feb 2018, 15:16
  #2 (permalink)  
Join Date: Aug 2013
Location: Spain
Posts: 164
Currently training, modular - funding half through savings and other half through loan.
Jaair is offline  
Old 7th Feb 2018, 17:14
  #3 (permalink)  
Join Date: Jan 2017
Location: EU
Posts: 127
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.
Veltro is offline  
Old 7th Feb 2018, 20:15
  #4 (permalink)  
Join Date: Feb 2015
Location: UK
Posts: 228
Saved it all from working.
keeflyer is offline  
Old 7th Feb 2018, 20:19
  #5 (permalink)  
Thread Starter
Join Date: Aug 2013
Location: Cornwall
Age: 29
Posts: 203
Thanks for the responses so far!
FlyVeryHigh- is offline  
Old 8th Feb 2018, 12:11
  #6 (permalink)  
Join Date: Aug 2017
Location: Manchester
Posts: 79
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
ComeFlyWithB is offline  
Old 8th Feb 2018, 14:28
  #7 (permalink)  
Join Date: Jul 2014
Location: UK
Posts: 16
Can you do the ATPL while still working?
plasmarb is offline  
Old 8th Feb 2018, 14:59
  #8 (permalink)  
Join Date: Aug 2013
Location: Spain
Posts: 164
Yes, a lot of people have done it that exact way through distance learning schools.
Jaair is offline  
Old 8th Feb 2018, 15:56
  #9 (permalink)  
Join Date: Oct 2000
Location: UK
Posts: 523
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.
RAFAT is offline  
Old 9th Feb 2018, 04:19
  #10 (permalink)  
Join Date: Dec 1998
Location: Escapee from Ultima Thule
Posts: 4,228
More responses from the same question asked previously: What did you do before becoming a pilot?? To pay for it?
Tinstaafl is offline  
Old 9th Feb 2018, 11:07
  #11 (permalink)  
Join Date: Nov 2014
Location: go west
Posts: 0
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!
Martin_123 is offline  
Old 9th Feb 2018, 11:35
  #12 (permalink)  
Thread Starter
Join Date: Aug 2013
Location: Cornwall
Age: 29
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.
FlyVeryHigh- is offline  
Old 9th Feb 2018, 12:31
  #13 (permalink)  
Join Date: Jan 2017
Location: EU
Posts: 127
It is indeed a good moment to obtain your licence now, modular trainess are having their fair share of assessments as well.
Veltro is offline  
Old 9th Feb 2018, 23:00
  #14 (permalink)  
Join Date: Sep 2012
Location: Norway
Age: 25
Posts: 29
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!
alexandrantonia is offline  
Old 10th Feb 2018, 10:53
  #15 (permalink)  
Join Date: Sep 2012
Location: In the flare
Posts: 45
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.
clamchowder is offline  
Old 10th Feb 2018, 14:43
  #16 (permalink)  
Join Date: Aug 2011
Location: Planet earth
Posts: 29
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!
SSDK is offline  
Old 10th Feb 2018, 15:18
  #17 (permalink)  
Join Date: Jun 1999
Location: Give Current Ops a shout.
Posts: 950
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.
CAT3C AUTOLAND is offline  
Old 10th Feb 2018, 20:01
  #18 (permalink)  
Join Date: Aug 2013
Location: Spain
Posts: 164
Just curious - did you guys even self fund the TR?
Jaair is offline  
Old 11th Feb 2018, 07:10
  #19 (permalink)  
Join Date: Dec 2005
Location: UK
Age: 41
Posts: 36
I'm surprised no one has mentioned the Martin Lewis method..
rudestuff is offline  
Old 11th Feb 2018, 16:52
  #20 (permalink)  
Join Date: Jan 2010
Location: London
Posts: 59
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.
AIMINGHIGH123 is offline  

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