Cost
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Join Date: Feb 2011
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Cost
Hi everyone!
I just want your advise about the training cost. It's not a secret that if you want to become a pilot, you have to have a lot of money, but not everybody is that rich. So my basic problem is I don't have money for studies and have no idea where could I get it. Do u take loans, or u have been saving that for 10 years....? How do you deal with it?
Thank you in advance!
I just want your advise about the training cost. It's not a secret that if you want to become a pilot, you have to have a lot of money, but not everybody is that rich. So my basic problem is I don't have money for studies and have no idea where could I get it. Do u take loans, or u have been saving that for 10 years....? How do you deal with it?
Thank you in advance!
Hovering AND talking
Join Date: Feb 2003
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Some save, some take loans, some inherit, some have wealthy parents and some win the lottery.
If the latter three are not an option, I'd recommend you save for it. Loans will likely have to be secured on a house.
Hope that helps.
Cheers
Whirls
If the latter three are not an option, I'd recommend you save for it. Loans will likely have to be secured on a house.
Hope that helps.
Cheers
Whirls
Join Date: Apr 2010
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I have a PPL, 50 hours and material and classes sorted for the first 9 ATPL exams. My debt so far is zero. I plan on keeping it that way until at least cpl Me/ir. Being a safe kind of guy and a non gambling type I can't understand how people take out enormous loans for training. I'd never sleep personally!
I suggest get a job, even if it's rubbish like mine and just save. Whether it's modular or integrated (i and many others recommend the former).
And there's no rush of course, word is there's a recession :P
Good luck!
I suggest get a job, even if it's rubbish like mine and just save. Whether it's modular or integrated (i and many others recommend the former).
And there's no rush of course, word is there's a recession :P
Good luck!
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Best way is to save i'm afriad. I'm now 26 and have been saving since i was 15. I managed to save £10,000 for my PPL then saved a further £5,000 for the hour building then a further £10,000 for the ATPL writtens (Doing it full-time with living costs etc etc) and now have just saved a further £13,000 for the CPL/IR to complete over the summer. I still need to take a £19,000 loan from the bank but that will be all i re-pay. I've always had two jobs ever since i was 16 and wouldn't change it for the world. I'm so determined to get into the right hand seat that i will give my right arm.....i don't believe mummy and daddy should pay for it, so i've done it all off my own back!!!!
Thats just my opion and good luck with the flying
Thats just my opion and good luck with the flying
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Join Date: Feb 2011
Location: Cork
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Thank you very much for your replies!
I'm also skeptical about the idea to take the loan, because you never know what is going to be after 5 or 10 years, it's just I'm afraid that when I have that money I will be too old for that (I'm 23 now).
I'm also skeptical about the idea to take the loan, because you never know what is going to be after 5 or 10 years, it's just I'm afraid that when I have that money I will be too old for that (I'm 23 now).
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If you know you can manage your loans one way or another, even those you doing your training, go for it.
If you cant get a pilot job, right after your training, you can always get some factory job meanwhile and pay down your debts.
In my case, I worked for 2 years, saved some money. Got help from my parents and took some loans.
Its all individual m8, you must act according to your situation.
If you cant get a pilot job, right after your training, you can always get some factory job meanwhile and pay down your debts.
In my case, I worked for 2 years, saved some money. Got help from my parents and took some loans.
Its all individual m8, you must act according to your situation.
