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-   -   Finance with CTC for type rating (https://www.pprune.org/professional-pilot-training-includes-ground-studies/586901-finance-ctc-type-rating.html)

Username99 11th Nov 2016 22:32

Finance with CTC for type rating
Im sure you will all look at that and say uugh, here we go again, but I havent been able to find any info anywhere about this, so here is my situation:

I recently passed selection for the CTC whitetail route (WOO) and am now sorting out how much I will need to borrow. Its all very simple and payment is standard until you finish your training and you start your line training and you have to do your type rating. Now it says that you MAY have to make a contribution towards the typre rating. Really as far as I can see, it is a cost that may or may not have to be paid in full, and I dont want to borrow more money than I need to for obvious reasons.

So my questions:
I know it depends on the airline but how much of a contribution are you expected to make?
Is it worth borrowing the extra from the bank to POTENTIALLY cover this cost even if there is a possibility that I may not need to use the full amount if I have to contribute less towards it. Just to let you know I would be looking at an extra 4k interest alone if i were to take the extra out (25k based on the rough cost of a type rating)

So really what is the likelihood of the placement airline wanting you to contribute to the type rating and if so, how much?

Thanks in advance for any relevant replies

Qtr Life Crisis 15th Nov 2016 20:25

The schools all told me it was better to have the money aside or a loan arrangement in place (perhaps with family). Although I have read that easy jet can bond an amount but thats based off nothing concrete, just what I have seen on here and other similar sights.

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