Financing a pilots license

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DaveC
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Financing a pilots license

Post by DaveC »

Hi all. It's been awhile since i've been flying, and I know the bug is going to bite again soon.. so I'm looking for some advice.
Let me tell you about my situation first..

I worked at Durham Flight Center for 3 years as a Dispatcher and flying in my offtime. I managed to get a good amount of hours in - but not near as much as I needed. I had to start saving for University (UOIT for Information Technology). I figured going to university would be a great idea as it would allow for me to finance my flying after graduation, and major airlines will look highly upon the degree (atleast so I was told). My family has a bad streak with diabetes too, my sister, brother, and mom all have it. I didn't want to go to Seneca or Centennial to find out I am going to lose my medical! I can work full time as an IT professional and fly in my spare time, and work towards an instructors rating.

So here I am again, I'm looking around to find a cheaper solution to getting my flying time in. I know if I was to get a time share + a free lance instructor it would probably be cheaper than going through a flight school (right?)

I am looking for advice, validation, and comments about my plans.
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North Shore
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Re: Financing a pilots license

Post by North Shore »

Make sure, first that you are going to be able to get a Cat 1 medical, otherwise, even the instructor dream is out of reach. Second, are you being honest with yourself about your goals? By this I mean, are you thinking "Well, I'll just dip my toe in the water (dabble as an instructor), but i really don't want to go swimming (fly for a living). If you do want to swim, then stop fooling around, get a loan or do whatever it takes to get the cash and get on it. If you're happy with dipping, then I'd be a little more methodical - sketch out a training plan ( x hours a week, PPL finished by such and such a date, and so on.) From there, you'll get a better idea of the money needed, and if you can simply pay-as-you-go, using your paycheque as fast as you can earn it (Not a bad idea at all, IMHO) Your plan of time share and freelance seems sound, but I can't remember the intricacies of the regs surrounding FTUs, so you may fall foul of something along the way..

my $.02. FWIW.

Good luck.
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DaveC
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Posts: 204
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Re: Financing a pilots license

Post by DaveC »

North Shore wrote:Make sure, first that you are going to be able to get a Cat 1 medical, otherwise, even the instructor dream is out of reach. Second, are you being honest with yourself about your goals? By this I mean, are you thinking "Well, I'll just dip my toe in the water (dabble as an instructor), but i really don't want to go swimming (fly for a living). If you do want to swim, then stop fooling around, get a loan or do whatever it takes to get the cash and get on it. If you're happy with dipping, then I'd be a little more methodical - sketch out a training plan ( x hours a week, PPL finished by such and such a date, and so on.) From there, you'll get a better idea of the money needed, and if you can simply pay-as-you-go, using your paycheque as fast as you can earn it (Not a bad idea at all, IMHO) Your plan of time share and freelance seems sound, but I can't remember the intricacies of the regs surrounding FTUs, so you may fall foul of something along the way..

my $.02. FWIW.

Good luck.
Thanks for the tips! I had my Cat 3 medical but it is due to expire soon. As far as goals go, I think I am - its something i've always wanted to do. I can't see myself sitting at a desk for the remainder of my life, I would go just insane. I need to see the world, every hour I flew was just reassurance that this is what I want to do with my life. Even when I'm on the 427 seeing all of the Pearson approaches, its just mind blowing. I'm going to do it unless i'm not medically fit to do so :)
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