average age
 

I'm sure this has been discussed many times but obviously i am not using the search tool well enough.

just wondering how old some of you were when starting your course to get your ATPL?

This should explain everything ;)


Sub Title
Are you too old to begin training?

too young at the moment but by the time i go to uni and get the money....

I was 21 when I started:)

" By the time I go to Uni and get the money"

How do you propose to get the money, when I was at Uni I came away with hugh debts just like everyone else. Are you aware that you will probably need in excess of £50,000 together with living expenses (food, rent, gas, electric, car, insurance, tax, books...)

....and nowadays everyone makes you pay for a type rating when you finish, thats another £20,000.

Don't know too many people that came away from Uni with that sort of money in their pocket, but maybe I drank to much booze!

No age limit, I have friends in their 40s who trained & got jobs.

Plenty of 'is a degree of value' / 'Do I need a degree' threads around here.

Personaly I would suggest that you get your degree under your belt as a back up incase you end up as one of the many unemployed pilots out there. Most of the people who are training here have back up plans / good jobs at the moment.

I am 24 with a degree and a web design / graphic design job. It pays enough money that I should be able to take 2 years out (in 18 months time) and do my training without needing to take out any loans. If I have the chance of becoming a profesional pilot dependant upon a self funded £20,000 Type rating then I will take out a loan for the outstanding amount. :bored: Then work 3/4/5 years before breaking even on my pay out for training.

Make sure you read the stickys and research the forum before diving in. There is a wealth of knowledge to be had here.

Andrew

by the time i am 25 i will be able to get the money.

what do you guys think of getting the licnece by doing a modular course.
this way i will be doing the course when i leave uni.

how long do modular courses take roughly?

Im 18 and just started the ATPL. I think the modular course is faster but more expensive!

capt x

No, integrated is faster and lots more expensive.

And Craigedee the questions you are asking have been answered time and time again, as AlphaMale says in the post above, theres lots of information in the sticky thread at the top of the forum and loads of threads of integrated vs modular etc etc

Hello ,

I was 18 with a CPL IR MEP FAA and 200 Hours when I started the ATPL and now I'm 19 and about to Finish . I'm Doing my training in France and in almost all French FTO it takes a year to make it .


Regards

JB

Pssst - Let me in on the secret :confused:

How much money will you have at 25 then?

i will own a house then.

Sorry...I don't understand this - or have I just misread it?

I received my CPL/IR/ME when I was 18 with 200 hours, finished Bachelor in Aeronautical Science, now im 21 finishing JAA ATPL with 600 hours.

Think I might be being thick here...just wondering if JB LFPN FLYER has the CPL/ME/IR then other than MCC and the overall hours requirement what is left to do? Or is he converting it to another type?

Which boat have I missed?!

Ahh ... your an only child and will inheret their house. Are they planning on going anytime soon? :bored:

Only guessing here as I don't understand where anybody my age can raise the cash for training? and if anybody has any ideas I'd sure like to know. I work my normal 9-5 hours and then a couple of hours in the night doing freelance work as well as weekend work to put the money away. I went through univeristy and it's not cheap := I don't want to be throwing a spanner in the works but I am being a realist. most students I know go to uni with zero to 5 grand in their bank and come back with a £15k debt in exchange for a BSc. Your planning on coming out with £50k/£60k in your bank :D

Andrew

house will be signed over to me to save paying inheritance tax.

That is a good way to do it to dodge the tax. Am I guessing your parents are elderly then?

Not really my business anyway. But each to their own on funding their training I am sure some people break the law to get where they want. I know of a friend that sold stuff he shouldn't have been selling to get the money to start his own business :oh: :=

Good luck and safe landings

Craig...is your plan to have the house signed over to you, boot the folks out and use the cash to pay for your flying training while you sleep on a friend's floor?

'Cause if it is, you're a genius. I look forward to the day where old people roam the streets and the voice saying "this is your Captain speaking" sounds like Chesney from Corrie!

Well he can't say we didn't warn him. :\ I don't drink and still came out of Uni in debt (no help from my parents so I had to rely on 2 jobs and a government loan).

But it has given me life experience and a tidy job with a BSc behind my name that nobody can take away :p

I have a 50% share in 2 fully paid off houses. But I will not be including this as my 'flight training money' :rolleyes:

Andrew

Hmmmmm!
 

:= Alternatively he could just release the equity by getting a loan secured against it like vast majority who own a house had to do to fund our training!!!

It is hardly illegal to pass on assets in order to avoid paying Inheritance tax (IHT) the property is still going to give the government money for unless he intends to live with his folks until they pass away.

If not he will likely get another house. This other house will become his principal private residence (PPR) and as such the 1st property when it is sold will be a capital asset that he is liquidating and as such he will have to pay Capital Gains Tax (CGT) on it. Unless of course he elects to rent the property out spend all the equity and leave the problem for his children to sort out!!!

This all assumes of course that his parents survive the next 7 years becuase if not it will all have been in vain as he will be liable to IHT anyway.:ugh: :mad:

VT

Hello , What I mean is that when I started my ATPL I already had my American ( FAA ) CPL IR MEP and I had around 200 Hours .
Today I am Half way over the ATPL and after that I will need to make a licence conversion to get my JAR FCL CPL IR MEP .

That's it ;)

Regards

JB

Man It would be so much easier if my parents would just hand me the money.

I have to make a sacrifice of not getting on the property ladder yet in order to do my training. It's a risk and if it all goes wrong then :ugh: £50k wasted and 18 months of not earning anything and 4 years of not being on the property ladder (take into consideration the cost of houses in 4 years time).

Think I like many others fall into the 'If you want it bad enough you will work hard and make sacrifices to get there'.

You should do the same, I am sure you'll feel a lot better for it when your fully qualified - and what a story to tell them in the airline interview when they ask 'How did you fund your training? and what sacrifices did you make to get here?'

Agree 100%

I heard some airline recruitment managers complain that new pilots lack motivation. Perhaps they should start looking at what sacrifices and hard work people have done to get where they are rather than go to Oxford and pick a load of rich kids who have spent mummy & daddies cash.

Still cannot believe this kid is thinking of raising cash through a house his parents have worked hard to give him unemcumbered, while they are alive.

Headline- Parents forced onto street by child who mortgaged it to the max in order for personal gain but cannot keep up the repayments because he has no job! (no job while training and no guarantee of a job at the end!):ugh:

Maybe so.. who knows, I personally would jump at the chance of going Integrated at OAT if my parents offered to pay! (as like many others) if I were at a young age, but for many individuals, like myself, have had to struggle to pay and delay training until one can afford it.

I chose not to go to Uni (due to debts) as flying has always been my goal. Many individuals at work have just graduated from Uni with debts, and on a much lower wage. My advice to someone would be to work your ass off on saving up the cash, working your way up the ladder at work (better wage), while saving for flight training and keeping out of debt.

I now have a well paid job and some life experience behind me, instead of jumping straight out of college.
Companies don't just look at qualifications, they look at the whole person and whether they will blend in - life experience helps a great deal with this, as well as having a greater sense of the risks involved and money.

I could get a loan on flight training tomorrow if I really wanted, instead I'm dealing with this sensibly, using savings now and then use a loan when I really need it.

Oh btw, I have heard the average age range for pilots is 26-35, there are only a very few individuals who are in a position to start training while quite young (with a helping hand from someone).

.. that's my opinion.

Very true who has £10's of thousands at the naive age of 18 the money normally has another source. However with willing parents/relatives it's no problem, I would also be equally supportive if I had the money in life.

However it's equally true motivation is a big factor and is distinctive from enthusiasm, these are all too commonly confused.

When you work for or towards something the sense of purpose, progress and achievement helps condition you apprropriately for the job/task at the end of it.

Funding
 

If your determined enough the money can be got ....

I dont have rich parents or any rich relations who may croak and leave me millions. I work as much as i can doing 2 Jobs.

2 years ago (at 23) i brought a house. Now it has gained over 100,000 and i can borrow off the equity. Over the last 3 yrs i have saved and paid for a PPL, building to 125 hrs and now im about to start a full time atpl study course and i have not had to remortgage YET!

I work a normal airport job and still go out every now and then on the beer with my mates and drive a decent car!! Its a good route to go because if you borrow that kind of money BEFORE you get on the property ladder, it will be damn hard to get a mortgage with a loan like that over your head!

Also the house is a good safety net if you do ever hit financial ruin, you can always sell it or rent out out to cover the mortgage! Worst case of course!

Gawd, are all pilots that undertake their training < 25 from upper-middle class backgrounds? How I wish I had parents who could pay for my training! At the moment I get a tenner a week from EMA while I'm in college, and every penny is going in the bank *insert the tesco slogan here* because, while my parents own our house, they're not planning to dissapear off into the great blue yonder anytime soon! But then again, I suppose when I'm up to my ears in debt when I've finished training (whether im employed or not!) I'd still be able to say everything I've achieved has been entirely off my own back.

Though I am quite worried because there is absolutely nothing else I can imagine myself doing as a profession and while I have a Class 1 medical now (I had one purely so I wasn't following some pipe-dream) if my legs should fall off I'm well and truly buggered!

Sorry, what a completely pointless ramble that was!

Lee

IHT
 

Just a note regarging the IHT if a parent were to gift a child the property and still occupy the property then this is what is known as a gift with reservasion.

Your parents estate would still have to pay IHT on the property. The IHT payable would be based on the market value at death - not when the transfer took place.

One way to get around this would be for your parents to remorgage the property and gift you that money for your flight training. Your parents would have to be responsable for the morgage repayments.

If they survive seven years from the date of the gift then it will not be subject to IHT.