Financing of Atlantic Flight Training Academy
 

Hi, I am looking into applying for the Atlantic Flight Training Academy in Cork, Ireland. Considering the cost of the course is over £70,000 I am intrigued in the different methods other students who have attended or are attending the school have funded this. I am only 18 and I'm aware of the many other routes to become an airline pilot - however I am just looking in to this flight school based on its location to home. I've heard of others remortgaging parents houses etc but are the other ways to fund this programme ? Or is remortgaging property the best method ? If so, if anyone with any experience on this let me know is it financially achievable etc ? Thanks once again - any information would be greatly appreciated.

Thanks.

Getting on a sponsored scheme is like winning the lottery, it does happen but not to you.
Do you have rich parents, or parents who would be prepared to risk their house on you? If not then there is a very simple way to become a pilot: Get a job, then get a second job. Live with your parents. Don't smoke, drink or screw. Take out a small loan and two credit cards. In 3 years you'll have half the money for a modular course and the ability to borrow the other half. Train carefully and intensively during those 3 years using your vacation time in 2 week blocks and by the end of the 4th year you'll have a fATPL and very little debt. Many people have followed this path, known as 'saving-up' although the majority forget the most important part (They smoke, drink, enjoy themselves and have kids etc) which means their 3 year goal takes them 15 years or never...

I said simple, not easy.

There aren't many choices.

The two most common.
- Get given the money - often from parents remortgaging their home and sometimes from inheriting it.
- Work and save as much as possible. It is more than possible to save £15k per year if you choose the right options, work hard and save. There's your £70k in five years.
There are other options. You could mortgage your own home if you own one outright or marry into money or many other ways. But the above two are the most common.

You can also work and study at the same time. Though I think that path is a lot harder.

rudestuff above is very right. Most people don't have the discipline to follow through with working hard and saving money. It's not an easy road, but it shows grit/ determination and will develop work and life skills.

I was once straight out of school and wanting to get into one of these flight schools. I am glad life took me down a different path, a path which still landed me in the right seat of a B737 by my late 20s.

Go through university (if you're in ireland the state will pay, via a means test), get a degree, do a work placement. You have a choice of aviation degree or something completely unrelated. You have all of your 20s to become a pilot. Trust me I know what it's like to have those ants in your pants.

If your parents can afford it then great. If it's that much of a struggle on them then it's best you didn't. Do you really want to risk your parents losing their house over your training? If you graduate in the middle of the next recession in 2 yrs, you won't be finding many jobs. Meanwhile the bank will be knocking on your parent's door demanding money. If they can't pay - that house is gone. Not to be Mr. Doom - but as an 18 yr old, I too spoke about my parents simply remortgaging their house and all was taken care of, not quite realising just what that meant in real terms. Bless my parents, they were willing to, it never happened though. On principle I am glad we never did it. Your parents risk losing their house to fund an overpriced course, to make some training director richer and richer? When you do eventually do your training, you will realise that these insane price tags are completely out of place and in no way justifiable.

There are plenty of schools all over Europe that allow you to complete the modules in stages ( 'modular') for far cheaper, and all lead to the exact same EASA license. Airlines do hire these people too, contrary to what the big shiny schools will tell you. This forum has a wealth of information, take days going through old threads and building your picture about the landscape. If you have any unanswered questions or want some advice - ask here.

+1 for working and saving up. Rudestuff, I remember your posts a few years ago when I had no idea what I would do with my life after sixth-form. It felt impossible to save, but I finished A-Levels and jumped into full-time work in a kitchen literally the day after my final exam. I minimised spending with most of my expenses going towards transport. A promotion and new job later, I'm above my savings target with a valid class 1. My social life took a hit, but friends and family understood once they saw how serious I was. If your parent/s support you at home and you take extra shifts, saving really is possible. I've met students and pilots who have done it by staying consistent. OP, get your class 1 medical before committing fully to a plan; ideally in the summer after college but before uni. Should you fail the class 1, hopefully you can quickly pivot to your plan B if that involves uni. At 18 living at home in Belfast, you can do this if you want it enough.

Good for you mate. Theres something quite satisfying about setting a series of goals and then achieving them through hard work and sacrifice, but it does require delayed gratification which is why most people fail. Getting a pilots licence is very much like getting 6-pack abs in that respect. Anyone can do it but only 1% actually do.