Professional study loan / airline pilot

gr3harrier

Hello Peeps,
Sadly I am reaching the point of no return. Yes I am going to be 30 this year. My long term ambition has been to be a pilot. I really dont have the finance to do this. I heard that the HSBC bank provided loans for mature studies. However, about 4 months ago, I spoke to the bank including my own bank about the matter. HSBC have apparently STOPPED doing this and my bank nearly laughed. Are there any companies out there or pilot academies that offer such loan?? Are there any more airlines that does the sponsorship schemes these days? Also turning 30 in few months, have I got any chance?? Any reply, advise, help or support would be highly appreciated.

Thank you.

Gr3harrier :-)

Oldernotwiser

If you're talking about the Professional and Career Development Loan, you don't have to take it out through your own bank.

http://www.direct.gov.uk/en/EducationAndLearning/AdultLearning/FinancialHelpForAdultLearners/CareerDevelopmentLoans/index.htm

gr3harrier

Thank you brother, Will take a look Richard. Very kind. Regards, Gr3

BadgerFace_2

Here's a link to another forum, which has literally thousands of other people in your position which will help you to find the answers you're after. Post on there and you will get some good advice, together with info on the flight schools etc. that may be able to help you.

http://www.pprune.org/professional-pilot-training-includes-ground-studies-14/

I hope it helps and don't mean to be blunt, but you should either have a fair amount of savings or a big bank of mum and dad to do this. Say a bank paid for your Airline Transport Pilots Licence (£60k-ish), how would you live for the year and a half without any wages?

gr3harrier

Thank you both for your help. Will take a look on both website. Will let you know if anything comes out of it.

Thank you.
Gr3

dscarff

Quite a few of my friends are commercial pilots so I know a little about costs etc... Most do have jobs but some are still looking over 1.5 years after getting their commercial licence.

I'm pretty sure that no bank will lend you the money as there are very few jobs out there at the moment so the risk is too high. When my friends learnt to fly (in 2007) no bank were doing loans anymore.

The cheapest flying school is around £35k going up to £60k but you also have to factor in your 'type rating'. Most airlines make you pay for this costing an extra £20k or so. Plus your living costs for about a year while you train.

Sorry if this post is negative but this is the reality of the industry at the moment. Also if you do get your licence you might have to leave the UK as most jobs out there are based abroad.

Good Luck.

onlyroz

What about joining the RAF?

gr3harrier

Thanks for your replies friends. I just have to keep trying to find the funds somehow.

Regards

Gr3

grey_lady

Does it have to be done in the uk? I'm sure I've heard about people going to america to do a pilots licence.

gr3harrier

No some people tends to travel abroad i.e to the USA, NZ etc for licence, and infact it works-out cheaper. However, you would still need the funds for the course, including living expenses. If you then wish to fly in the UK, you then have to convert some section of your licence to be able to comply with the Bristish rules. This means more training and money! :-(

euronorris

onlyroz wrote: »

What about joining the RAF?

Great suggestion. Is it a possibility for you?

If not, why not apply to become an air traffic controller. I saw quite a few jobs going for that last year. Good salary and experience and then you could save to do the pilot's training.

Or, is there a local airfield near you? Maybe you could offer to work in other areas of the airfield/airport in exchange for lessons?