Pilot Loans and funding information
Congratulations on choosing such an excellent career and we are pleased to support you throughout your journey. We are fully aware that your chosen path is comparable in cost to that of a large deposit on a house.
Once you have decided that a career as a professional pilot is your destiny the biggest initial challenge is financing your training. The final total cost should not be underestimated and a significant contingency budget should be allocated, as inevitably the training is going to cost more and take longer than originally anticipated. Average training costs are currently between £60-90,000 and maybe more once a type rating, ancillaries, and extras are added.
Financing options will vary according to the type of course selected. Unless you are fortunate enough to have access to significant funds you will need to obtain some form of financing. In the current economic climate funding options are quite limited and generally, security and/or guarantees are required.
Students with an offer from a flight school can submit an application online up to six months prior to the course start, and if accepted, opt for the loan to be issued before your studies commence. Typically, funds are normally available in 15–20 days from the point of application.
Your flight school will be required to verify your acceptance to the course before any funding is released; this will be completed after you have executed and fulfilled the prerequisite requirements set out in your flight schools training agreement.
Think carefully before securing other debts against your property. Your property may be repossessed if you do not keep up repayments on your mortgage.