$191,000 for a CPL! Airline Pilot Package...

[Bog Down]

SFC (Sydney Flying College) are advertising their new 'Airline Pilot Package' that'll set the student back roughly $191,000 inclusive of accommodation, which almost every student will need to take add on to the cost as the training is done in Tamworth.

How can any school justify that price for a bare-bones CPL + IR MEA + MCC

The state of the flight training market is just ridiculous.

Offering subpar training under the premise of an 'Airline Pilot Package' to lure young 18-year-olds fresh out of high school to blow all of their available VET loans balance + more out of pocket to be underqualified for even the most basic C210 job in the NT.

[Clare Prop]

Time the VET rort was stopped. School kids are being targeted now.

They should wait until a graduate gets a flying job and holds it down for six months before opening up a place to the next one.
After all isn't our tax money supposed to fill an industry need rather than someone's pockets?

[mikewil]

Originally Posted by Clare Prop

Time the VET rort was stopped. School kids are being targeted now.

They should wait until a graduate gets a flying job and holds it down for six months before opening up a place to the next one.
After all isn't our tax money supposed to fill an industry need rather than someone's pockets?

Agreed.

I am not sure why they didn't crack down on this garbage after what happened with Soar a few years back...

Amazing to see the numbers sign up for this when you can still get a CPL for $60-$80K at a small school/aero club and fly the actual types that will make you employable in the top end

For anyone wanting pilot career advice as an 18 year old here it is:
1. I'd strongly reconsider my choice of profession but if you are dead set on flying, go to number 2
2. Take a year off and work full time and save up as much money as you possibly can, then find a local flying school/flying club that operates C172s and also has access to a C182 or C206 for the final 20 hours of your training. Make sure you 'pay as you go' and you will graduate with zero debt, having spent half of what your VET fee counterparts have and will also be ahead of the DA40/VET fee graduates for a charter/scenic job because you actually have 100 command (vs their 70) and time of the aircraft types that they actually use (Cessnas!).

[krismiler]

When I first read the price I thought it was zero hours to an A320/B737 type rating with a job at the end of it. Unbelievable.

[Creepy Beard]

Some of the marketing on their website is possibly misleading.

Upon successful completion of this course, you'll:

Earn a living as a pilot (paid flying work)

How can this be true? Is there a guarantee of employment?

Is this course right for me?

If airlines are what you dream of, this is the package for you.

I want to fly for the airlines.

I have one goal. I want to fly for the airlines. I am looking for a course that will prepare me for the title of 'Captain'.

Can anyone clarify if the amount includes the 20% surcharge (pseudo interest) for VET FEE HELP?

[Clare Prop]

Originally Posted by mikewil

Agreed.

I am not sure why they didn't crack down on this garbage after what happened with Soar a few years back...

Amazing to see the numbers sign up for this when you can still get a CPL for $60-$80K at a small school/aero club and fly the actual types that will make you employable in the top end

For anyone wanting pilot career advice as an 18 year old here it is:
1. I'd strongly reconsider my choice of profession but if you are dead set on flying, go to number 2
2. Take a year off and work full time and save up as much money as you possibly can, then find a local flying school/flying club that operates C172s and also has access to a C182 or C206 for the final 20 hours of your training. Make sure you 'pay as you go' and you will graduate with zero debt, having spent half of what your VET fee counterparts have and will also be ahead of the DA40/VET fee graduates for a charter/scenic job because you actually have 100 command (vs their 70) and time of the aircraft types that they actually use (Cessnas!).

Add talk to a financial advisor, not an unqualified salesman.

[mikewil]

The homepage also states that they are "not for profit". Is anyone able to elaborate on how/why a place like this is classified as not for profit and maybe enlighten me on what loopholes someone might be exploiting here to still go home with a very handsome sum of money?

I am guessing as a not for profit, you would still be able to have a board of directors and CEO all paid 7 figures to ensure that there is no 'profit' as far as the company itself is concerned?

I am not a financial guru so maybe someone could chime in as to whether that's how this kind of rort works.

[Clare Prop]

I understand for some NFP that would come under administration costs, also likely to have a Fringe Benefits Tax exemption for salary packaging.
Tax exemptions for NFPs can be found in Google. I’m sure there are people here who understand it better than this humble flying instructor.
If so, hoovering up taxpayers funds while enjoying a tax exemption is a bit…ironic

[Bog Down]

Originally Posted by Creepy Beard

Some of the marketing on their website is possibly misleading.

How can this be true? Is there a guarantee of employment?

Can anyone clarify if the amount includes the 20% surcharge (pseudo interest) for VET FEE HELP?

Nope, you'd have to plus the 20% loan fee on top of the course cost.

Ridiculous.

[Clare Prop]

Originally Posted by Bog Down

Nope, you'd have to plus the 20% loan fee on top of the course cost.

Ridiculous.

It's not pseudo interest but a one off as you do each unit I believe...the max rort, I mean debt, is $174,998 so the admin fee is $52 500 added to the balance. That would buy you 150 command hours and set you well ahead of the herd when looking for work.

What is real though is the indexation, currently at 7.1% per annum. ON the back of my envelope here, On the max debt of let's call it $175.000 plus the $52 500, so we are now at $227 498 that's a cool $16 152 p.a. added on at 1 June in indexation; to pay that indexation off in a year you would need to be earning $161 520, just to keep the debt balance where it is. Good luck earning that as a brand new CPL.

I doubt a financial advisor would recommend that, but hey if the slick salesman says you are guaranteed a job with Qantas then they must be right! Right? Sure let's go around the high schools and sell this!