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Pilot Training Costs And How To Afford It

Let’s not beat around the bush, training to become a pilot is expensive. Like REALLY expensive!

The cost to get to a point where you can start applying for the airlines ranges anywhere from £60,000 to well over £100,000 depending on the route you take.

All that being said, if you want to become a pilot, the investment is 100% worth it! The long-term earning potential of a pilot is very high, starting pay for a second officer after completing line training is around £40,000 and growing to over £140,000 for experienced captains! The job security is excellent. In fact, pilots rarely ever lose their jobs (unless there’s a massive economic crash). You’ll also find that flight training isn’t as difficult to do as you might think; it just takes time!

So how do you go about affording the training?

The first option is self-funding. If you’re fortunate enough to have the money laying around, or family or friends who can lend you the money, you’re good to go. Choose your school and get booked in!

Obviously, not everybody has that sort of money just lying around, so what else can you do? The next option is to get a loan. This can be really helpful as it allows you to pay for your training over time, rather than having to fork out the full amount up front. You’re not going to get a loan for the full amount without some sort of security. This is normally property.

To take out a secured loan, you or a family member will need a property with enough equity that the bank is willing to loan you the money. A secured loan acts like a second mortgage, but unlike a traditional mortgage, the money doesn’t have to be spent on the property. This route allows you to borrow the full amount up front, and pay for your training over a number of years. Obviously, this comes with some risks, such as the bank repossessing your house if you’re unable to keep up with the repayments.

Another option is working alongside your training. This is where the modular route can be useful, as it allows you to continue working and paying for your training. With the modular route, you can spread out the training over a number of years, allowing you to keep up with your job and continue paying for your training. This is a great option if you want to work and study at the same time, but don’t have the money upfront to pay for it all in one go. The payments are also made in stages throughout the training rather than all in one go upfront.

Finally, is the option to save money before commencing your training. Saving over £60,000 is not going to be quick. However, if you’re still young, there’s nothing stopping you from going out and getting a career elsewhere for a number of years, and saving up the money. There’s not really a maximum age to begin your training. I’ve had friends who were in their mid 40’s when they started training and had no issues getting a flying job when they finished. Employers like real-world experience.

There is not one answer for everyone. You have to look at the routes open to you and your current situation and then decide which will best suit you. This is not a decision to be taken lightly, and you need to think about what’s best for your future. The good news is that you have plenty of time in which to make up your mind.

When you’re ready to go, be sure to check out our find a flight school section to find your nearest training provider.

how to afford flight training

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