Pilot Loan - CTC Wings Cadet

Hax

Good luck Drew - a wise decision IMHO. I wish you every success

geoffky - you forgot: "Tally 'ho Ginger!"

drew2k9

a decision partly based on my experiences reading this section of the forum, seeing the problems people have gotten themselves into from small loans, i dont want that to be looming in the future! plus if i really want it i will work for it, and take time over it!

Easydebt

Hi All,

I came across this forum when searching for something else related to training bonds.

For those who are interested I graduated from CTC a couple of years ago and I am now flying for EasyJet.

I noticed that a previous post mentioned that a director of CTC has said that cadets haven't defaulted on their loans. This is quite untrue and misleading to young adults who want to pursue their dreams. To my knowledge at least 4 pilots have had to declare bankruptcy and many others are on the verge and I know personally about 50 pilots who are defaulting on their loan each month.

The average salary after completing Type Rating and once line trained is 1700 after tax (If you are lucky to be offered a job after 8 months of 1200 a month). The loan repayments currently are appox 1200 so that doesn't leave much to live on!

After the 2 years of training, CTC are demanding another 8-10k on top of the initial 80k to pay for a type training at which (was in my day at least). The alternative is to wait whilst the bank sends you notices of final payments.

I am not going to say that people should not pursue their dreams but I wouldn't recommend CTC unless you c\n do it without a secured loan (IMHO). I would suggest modular with the knowledge that you will pay for a Instructor Rating or a TR with another airline. It would be cheaper and would avoid bankruptcy.