Paying Back Pilot Loan
Join Date: Oct 2016
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The training is very expensive; if you take a look around Eastern Europe you can find some schools that start from - 0 to Atpl - with a price around 40K; with extra voices you can easily reach 50K. Should be enough if you are a smart person.
My personal experience it's with a modular training: I started with a PPL in a local aeroclub, paying step by step (1 year to obtain the PPL ) then I did the Night rating in Hungary, then I continued with the atpl theory (distance Learning) and hour building, traveling a lot to/from Poland to take all the 14 ATPL exams. All this stuff during my life, with a full time job.
For the last stage of the training, the CPL and IR/ME i taken a loan with the bank, around 25k and, if everything goes right, next month i will finish the training (it is missing the MCC course but i will think about it later when i'll back to work in October) and now are 3 months that I am not working, I requested holidays (no salary for 3 months) to finish the training in Poland.
For sure you need a very well paied job, at least 1500-2000 euro/month, but i did it, living alone and paying a rent for the house where i live.
So, it's hard honestly, you should be ready to cut everything and unecessary things, but I think if you really want this and if you believe it, you can smash the difficulties, reaching your goal.
Anyway, you need to plan everything accurately, maintaining a correct budget during the training, in my case 3 years.
I don't suggest to take a big loan, taking the risk to lose your home;
If you need any suggestion write me, i am happy to help any person.
Take care and good luck everyone!!!
My personal experience it's with a modular training: I started with a PPL in a local aeroclub, paying step by step (1 year to obtain the PPL ) then I did the Night rating in Hungary, then I continued with the atpl theory (distance Learning) and hour building, traveling a lot to/from Poland to take all the 14 ATPL exams. All this stuff during my life, with a full time job.
For the last stage of the training, the CPL and IR/ME i taken a loan with the bank, around 25k and, if everything goes right, next month i will finish the training (it is missing the MCC course but i will think about it later when i'll back to work in October) and now are 3 months that I am not working, I requested holidays (no salary for 3 months) to finish the training in Poland.
For sure you need a very well paied job, at least 1500-2000 euro/month, but i did it, living alone and paying a rent for the house where i live.
So, it's hard honestly, you should be ready to cut everything and unecessary things, but I think if you really want this and if you believe it, you can smash the difficulties, reaching your goal.
Anyway, you need to plan everything accurately, maintaining a correct budget during the training, in my case 3 years.
I don't suggest to take a big loan, taking the risk to lose your home;
If you need any suggestion write me, i am happy to help any person.
Take care and good luck everyone!!!
Last edited by inabw; 24th Dec 2019 at 17:35.
Join Date: Dec 2004
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Whilst I agree with you there RS, I would add that I feel your figures are a little on the low side.
From personal experience training modular, my total expenditure will come in at £70k. That's for: PPL, night rating, hours building, ATPL course (distance), CPL, MEP, IR, travel, accommodation, all test fees, medicals and equipment. That is however excluding: food/lifestyle costs during training, MCC, JOC and the cost of any type rating bond payment should I be required to pay one. Hopefully not. Whilst I could most likely have cut between 3-5k from that total with some better planning, if you're taking ATPL ground school full time at an ATO that will bring it back up to roughly the same amount, or a little bit over. If you go over minimum hours, also expect to pay more - significantly so if you go over on CPL/IR or have to retake.
A personal unsecured loan from my bank for £25k, taken when the rates were at the lowest they had been for years, is £330 a month for 7 years.
Having almost reached the end of the modular route, would I recommend it to those who can't afford to worry about integrated costs and re-mortgaging houses? Yes absolutely. It's a great way of training which puts the control, timing, and the maturity to manage your own budget, in your hands. You learn a lot when you haven't got somebody spoon-feeding you. I would however caution those that can't budget well. This route will bite you if you don't do your planning and calculations meticulously.
From personal experience training modular, my total expenditure will come in at £70k. That's for: PPL, night rating, hours building, ATPL course (distance), CPL, MEP, IR, travel, accommodation, all test fees, medicals and equipment. That is however excluding: food/lifestyle costs during training, MCC, JOC and the cost of any type rating bond payment should I be required to pay one. Hopefully not. Whilst I could most likely have cut between 3-5k from that total with some better planning, if you're taking ATPL ground school full time at an ATO that will bring it back up to roughly the same amount, or a little bit over. If you go over minimum hours, also expect to pay more - significantly so if you go over on CPL/IR or have to retake.
A personal unsecured loan from my bank for £25k, taken when the rates were at the lowest they had been for years, is £330 a month for 7 years.
Having almost reached the end of the modular route, would I recommend it to those who can't afford to worry about integrated costs and re-mortgaging houses? Yes absolutely. It's a great way of training which puts the control, timing, and the maturity to manage your own budget, in your hands. You learn a lot when you haven't got somebody spoon-feeding you. I would however caution those that can't budget well. This route will bite you if you don't do your planning and calculations meticulously.
Quick question. If you started off on the modular route, and then, after completing your PPL, you wanted to speed things up, could you join an integrated scheme and would they give you a discount?
Join Date: Jul 2019
Location: Madrid
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Is that true?
I was about to start an integrated course in January just for the sake of finishing earlier than a modular.
Your case is the first one I find that is shorter via modular course.
Could you recommend what should I take into account to accomplish a modular course so fast?
Thanks
I was about to start an integrated course in January just for the sake of finishing earlier than a modular.
Your case is the first one I find that is shorter via modular course.
Could you recommend what should I take into account to accomplish a modular course so fast?
Thanks
