It’s safe to say that Financing is a bit of a taboo topic, and not many Pilots (understandably) want to talk about it. However, it’s also the biggest barrier to a lot of people starting their Pilot training. The truth is that it’s a tricky subject, as it differs heavily from person-to-person. I’m not a financial advisor so I won’t go into depth, but from my research I’ve found the below to be the main methods:

The easiest and most obvious route, so I won’t write much about it. Having a relative willing to lend you the money, or achieving it through some other route such as inheritance, means you can avoid having to take out a loan.

2. Working (Part or Full-time) to earn it.

Arguably a much slower route, but it allows you to complete the flying training at your own pace, and complements the Modular option well. The downside is that you may need to take breaks between modules (e.g. PPL to Instrument Rating) in order to save up for the next course. This is partly the route I am going down.

3. Re-mortgage.

If you have a parent who is willing to re-mortgage their property, this can be an attractive option. However, they will be taking on a lot of risk as they will effectively be extending the term of their mortgage, with no guarantee you will complete your flying training (without sounding too negative!).

You can also re-mortgage your own property, but for those young and relatively new on the property ladder, this isn’t really a practical option.

4. Personal Loan (Bank).

This allows you to take an unsecured loan to finance module(s) of your flying training, and this can be through various high street banks, online lenders etc. The advice is always to check Martin Lewis/MoneySavingExpert as interest rates change all of the time. It is also worth trying the sliders on the website and exploring how loan length/amount borrowed can affect your repayment total. Where possible you want to have the largest deposit saved up with your own cash, so you can borrow as little as possible. Additionally, overpaying where possible to reduce the amount of interest payable. This is also partly a route I am exploring.

5. Grants/Bursarys.

There are often a number of Grants and Bursarys available to aspiring Pilots throughout the year, to take advantage of (although a lot close early in the year, around April/May time).
These can offer a range of benefits from a few hours trial flights, to providing a fully paid for PPL, or even a Flight Instructor rating. Generally these end at Commercial training however.

These can be competitive so it’s worth applying early, and providing as much evidence as possible as to why you think you deserve it, and why you are passionate about flying/aviation.

A few resources to look for these are:

• Flying Training News (A good summary of all the schemes open currently)
• Royal Aero Club Trust (I earned a Flight Simulator Bursary here, with 2.5 hours paid flying!)
• British Womens Pilot Association
• Air League
• The Honorable Company of Air Pilots (you need a membership however)

If you’re young enough, Air Cadets offer some great flying as well, for free! I was in the air cadets so happy to talk about the fixed wing flying (Grob Tutor) or Gliding (Vigilant), if interested.

6. Fully Funded Airline Schemes.

These come and go from time-to-time, but as of writing this there are two main schemes open, which is the British Airways Speedbird Pilot Academy (SPA) and Jet2FlightPath. TUI also used to offer a similar scheme. As you might might expect, these schemes are extremely competitive. I think when I applied for the SPA it was 200 places for approx. 20,000 candidates (i.e. 0.1% chance of success).

However, despite the odds its still worth a shot, as somebody has to get in. As these schemes are fully funded, the standards of candidates are high and so you have to fully immerse yourself in preparation.

It’s worth noting that from my understanding, for the first 4-5 years of rolling off on the scheme, you will be on a lower salary (say £40,000 compared to a Pilot who joined directly on say £75,000). I believe this is so that they can re-coup some of the costs of the money that they invested in your flying training.

It goes without saying that the biggest attraction of these schemes is a (conditional) job offer – so if you can successfully complete your flying training, you will have a job at the other end.

Although not fully sponsored – There are airline ‘tagging’ schemes (such as Jet2) where an airline will evaluate and give a conditional offer of employment to Pilots already undergoing their own flying training – you have to pay for your own training on this route however.

7. Military (RAF).

I’ve put this option last as it’s one that, whilst providing top-quality flying training in some of the most advanced fast jet, helicopters or military transport air vehicles out there in a range of diverse and challenging environments, should only be explored if your heart is truly in the military. There is usually a Return of Service that is expected when you sign up. It’s also worth noting that military selection is extremely competitive and of a high standard (including fitness and aptitude!), and also takes a long time (for me it took almost 9-10 months each time I applied).

There’s also the fact that you can only join whilst you’re young – so if you miss the entry age or don’t make the cut, this route is no longer an option. For me it was age 25, but as of writing this it is age 23 (i.e. must have started Initial Officer Training before 24th birthday).

It’s a route I do know a lot about however, having applied twice – so whilst the recruitment process may have changed, feel free to reach out if you have any questions.

I’d also recommend giving this BALPA article a read. I’ve also heard plenty of people recommend Microlight flying or Gliding, due to their low cost but ability to provide just as many thrills, so that’s also an avenue worth considering.