How did you pay for your endo?

[The Truckie]

I understand how most airlines are now paying for your endorsements and then you pay them back when you get on their payroll.
I'm just interested to know how you guys who had to fork out the 30 odd grand yourself and survive for about 2 months with no pay?

[waren9]

Given the original question posed, I wonder why the next 3 posters felt the irresistable urge to reply?

Personally, I did OK in property (all kick started by some bloody hard blue collar work) and time off work was covered by annual leave owed. (Which I'd saved up as well.)

Why? Well thats another story.

Edit. It was only about 20k $AUD back then

[Tidbinbilla]

The truckie did not ask for opinions on the morality of pay for training. If you are incapable of posting an answer without passing judgement, please refrain from posting at all.

Better still, start your own thread.

TID

[ACMS]

I thought we lived in a state where free speech is allowed.??

[empacher48]

I didn't think that pprune is a state, so that argument doesn't work in here.

I haven't paid for an endo yet, but realise these days its either pay for the endo or be bonded for X number of years.

Unfortunately sign of the times, so I do have some $$ saved away to cover the endo if I have to pay for one.

[The Truckie]

I know parents pay for most endo's and then you pay them back when your getting paid. But what can you do if your folks can't afford it?
What bank will lend you that kind of cash when you are technically unemployed while you are training?
And most GA guys will already have some form of debt, so just getting approval for an unsecured loan for an endorsement can be a big ask.

[Hasselhof]

oh boy, here we go. just lock the thread now and be done with it

[yaddayadda]

I can smell something burning...

[FLAME PROOF SUIT ON]

I've unfortunately had to go down this road as well, though I know that many before me and many after me will do the same. Sad, but unfortunately for the for-seeable future this will be the way the game gets played

I just went to the CONN-on-wealth, gave them the truth behind the reason I needed the loan (up to $50k for a personal loan). Approved in principle on the spot, and finalised the following day.

Now to pay the bugger back..

[FLAME PROOF SUIT - STAYS ON!]

[empacher48]

Yadda;

Interesting to know the bank was happy to loan you the cash, I would say under the current economic climate they maybe a tad more cautious about loaning that amount. Did they secure it on your future income or salary continuance insurance?

[yaddayadda]

They approved the loan on the current salary, and took my letter of offer into account for the future pay. My old man always said, tell the banks the truth as they can really hurt you later on in life..

[11percent]

agreed yad. I rang my bank to explain why my line of credit loan was going toward it's limit, and they were fine with it.

[Pluto's gone]

Damed if ya do, ya damed if ya don't...

At the end of whichever way you go as long as you are personally satisfied then it was the correct decision to make.

fly high and enjoy!