FTE Financal Assistance
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FTE Financal Assistance
Hi all, i'm thinking of applying to FTE. As I am not from a particularly wealthy family, I would be hoping to get my funding through HSBC, with my parents house used as security for the loan. Can anybody tell me whether the full amount of the course is loaned or if any money has to be put forward by the applicant. I would also like to know roughly how much money is needed throughout the course for living expenses.
Thank you, John Houston
Thank you, John Houston
Join Date: Nov 2004
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Sorry I can't help you with regards to the most important part of your message!
However, regards to living expenses you don't really need to much spare cash.
Included in the price is a nice room with ensuite and a cleaning service twice weekly.
3 meals a day, (crew room for toast, coffee, hot chocolate etc, 24 Hours and is included). yes you will put on weight!
Going out in Jerez and the holiday resort of Puerto Santa Maria is cheap compared to British holiday resorts, in a nightclub expect to pay 3 Euros a beer at the very most, normal bars a glass of beer is about a euro.
The most a very nice resteraunt will set you back is about 25 Euro a head, including wine.
And the bar in the FTE campus does a pint of lager for Euro 1.50 unless it is happy hour on a Friday!
Swimming pool is warming up nicely for summer too!
We get cheap rates on car hire for 33 Euro a day( usually cheaper if you have it more than 1 day) so its cheap enough when you have a spare day to go and explore Andalucia, or for a trip to the beach!
Cost of living here is cheap! Just stay out og Vagi's 96 and you'll be fine!
Sammy
However, regards to living expenses you don't really need to much spare cash.
Included in the price is a nice room with ensuite and a cleaning service twice weekly.
3 meals a day, (crew room for toast, coffee, hot chocolate etc, 24 Hours and is included). yes you will put on weight!
Going out in Jerez and the holiday resort of Puerto Santa Maria is cheap compared to British holiday resorts, in a nightclub expect to pay 3 Euros a beer at the very most, normal bars a glass of beer is about a euro.
The most a very nice resteraunt will set you back is about 25 Euro a head, including wine.
And the bar in the FTE campus does a pint of lager for Euro 1.50 unless it is happy hour on a Friday!
Swimming pool is warming up nicely for summer too!
We get cheap rates on car hire for 33 Euro a day( usually cheaper if you have it more than 1 day) so its cheap enough when you have a spare day to go and explore Andalucia, or for a trip to the beach!
Cost of living here is cheap! Just stay out og Vagi's 96 and you'll be fine!
Sammy
Join Date: Apr 2005
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maybe I can shed some light on your situation?
Lets start with HSBC - I applied to HSBC (chester) with a formidable business plan full backing from my dad in regards to security (either through his house or via a bond for a similar amount of cash as the FTE course) and a very lucrative job to come back to if it went all tits up. Soooo I thought it would be a case of signing on the dotted line, however I was wrong! The banks don't really like to give you that much money especially if its secured on someone else’s house because if it does go tits up there are ethical implications turfing people out of their houses. So what are my options,
1. apply to a HSBC bank with someone who knows about loans for flight training e.g. Oxford
2. I was applying for approximately 95% of the cost of the course and they said if I met them half way they would consider it
3. Use BBVA which offer two types of loans one in £'s and the other in €'s.
If you go for BBVA £'s you will be paying back a loan at UK base rate + 1% for a maximum of 10yrs (if the loan is secured on a bank account!) or UK BR +1.75% (if secured on a house!) like the HSBC loan you can take a repayment holiday for up to 18 month but obviously the longer the holiday the greater the amount of cash you pay back each month.
If you go with €'s you will not have to convert your £63K in to €92 which will save some cash. But the biggy on this deal is the € loan is +1% or +1.75% above the Euribor base rate (again depending on how you want to secure the loan!). So what is the Euribor? Well it’s basically the rate at which euro interbank term deposits within the euro zone and since its conception it has always been significantly under the Uk base rate, so more saving here!
Oh there is always option 4. house re-mortgage on a interest only scheme and you repay your parents instead of the bank.
BUT PLEASE DO NOT TAKE OUT A LOAN JUST BECAUSE IT SEEMS EASY ON PAPER TO REPAY IT!
I have worked for three year after finishing uni to get a well paid job spent a year deliberating whether or not I could realistically pay back the loan so I urge everyone before signing your parents lives away deliberate!
Flying on empty
P.s. As to how much to spend over in Jerez someone told me they get by on £200 a month
Lets start with HSBC - I applied to HSBC (chester) with a formidable business plan full backing from my dad in regards to security (either through his house or via a bond for a similar amount of cash as the FTE course) and a very lucrative job to come back to if it went all tits up. Soooo I thought it would be a case of signing on the dotted line, however I was wrong! The banks don't really like to give you that much money especially if its secured on someone else’s house because if it does go tits up there are ethical implications turfing people out of their houses. So what are my options,
1. apply to a HSBC bank with someone who knows about loans for flight training e.g. Oxford
2. I was applying for approximately 95% of the cost of the course and they said if I met them half way they would consider it
3. Use BBVA which offer two types of loans one in £'s and the other in €'s.
If you go for BBVA £'s you will be paying back a loan at UK base rate + 1% for a maximum of 10yrs (if the loan is secured on a bank account!) or UK BR +1.75% (if secured on a house!) like the HSBC loan you can take a repayment holiday for up to 18 month but obviously the longer the holiday the greater the amount of cash you pay back each month.
If you go with €'s you will not have to convert your £63K in to €92 which will save some cash. But the biggy on this deal is the € loan is +1% or +1.75% above the Euribor base rate (again depending on how you want to secure the loan!). So what is the Euribor? Well it’s basically the rate at which euro interbank term deposits within the euro zone and since its conception it has always been significantly under the Uk base rate, so more saving here!
Oh there is always option 4. house re-mortgage on a interest only scheme and you repay your parents instead of the bank.
BUT PLEASE DO NOT TAKE OUT A LOAN JUST BECAUSE IT SEEMS EASY ON PAPER TO REPAY IT!
I have worked for three year after finishing uni to get a well paid job spent a year deliberating whether or not I could realistically pay back the loan so I urge everyone before signing your parents lives away deliberate!
Flying on empty
P.s. As to how much to spend over in Jerez someone told me they get by on £200 a month
Join Date: Nov 2003
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P.s. As to how much to spend over in Jerez someone told me they get by on £200 a month
Join Date: May 2005
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My advice is talk to FTE they can help you. I dont come from a wealthy family so HSBC did not give me a loan at all even though i had got into FTE. Had to work 6 years for the money. No matter what happens
chin up and you will get there eventually...right then of to my shiny 757 
chin up and you will get there eventually...right then of to my shiny 757
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If you go with €'s you will not have to convert your £63K in to €92 which will save some cash. But the biggy on this deal is the € loan is +1% or +1.75% above the Euribor base rate (again depending on how you want to secure the loan!). So what is the Euribor? Well it’s basically the rate at which euro interbank term deposits within the euro zone and since its conception it has always been significantly under the Uk base rate, so more saving here!
