Is It True

[AlisterC]

QUOTE

The NZ gov pays for all of your flight training right up to commercial rating and once you begin working, that is when you begin paying it all back and it is totally interest free.[/quote]

is it true, if so has anyone done t? Any catches?

[pois0n]

Yeah, interest free student loans for any NZQA approved tertiary course here.

Get slapped up with 7% interest if you leave the country though.

[AlisterC]

Are there enough jobs here in NZ for commercial pilots with no hours under their belts? I know a couple who have finished their licence but both having to look overseas for work. One has gone to Fiji, the other still looking.

[benwynn]

Your Better Off staying in Australia right now. Rex has a cadet program that goes for 32 weeks, after that you have a Job in the Right Seat of a Saab 340.

[HardCorePawn]

QUOTE (VH-CC1 @ Nov 12 2007, 01:22 AM) <{POST_SNAPBACK}>

is it true, if so has anyone done t? Any catches?

Yeah... you need to qualify for the loan first... last time I checked, you need to have at least NZ residency... I think AU peeps may qualify as I think they are allowed to live here etc., but not 100% sure about this...

If you leave NZ for more than 183 consecutive days in a year, you no longer qualify for 'interest free' status...

They also tax you an extra 10c in the dollar for everything you earn over the repayment threshold (currently around 18,000).... although as I recently discovered, you do not actually have to have it deducted from your salary/wages every payday.... you can elect to just get the bill at the end of the year... which works for me, coz the revolving credit account on the mortgage has an interest rate of around 10%... whereas the loan is interest free So the longer the money sits in the RC account, the less interest I pay on my mortgage

the nice lady at the IRD said, you do realise you'll get a large bill and only a 'short' time to pay... I asked what a short time was... she said well if we take this year as an example, we'll calculate what you owe at the end of march 08 (end of tax year)... and you will have to pay february 2009... hhahahah that's almost a whole year!!!

The only other issue with this, is that a lot of the institutions in NZ that offer flight training via student loan have a history and reputation of being 'sausage factories'... they were really just trying to crank through as many students as possible to increase their income...

However, I cannot really comment one way or the other as to whether or not any specific institution is like this anymore... as I only have experience with Massey and AFS... Massey was back in 1999/2000 and AFS was in 2003... and I am currently training at a smaller flying club... Judging by the comments from others on this board who are currently at Massey/AFS, it would appear that these 2 institutions seem to be striving to shake that reputation...

The other side benefit of doing this type of training is that it is usually attached to a Tertiary qualification of some description... so if the flying is a bust, you have your educational background to fall back on... Granted they will lean towards the aviation side of things, but with the way university courses tend to be structured you can often some variety of subjects through elective courses...

QUOTE (Albatross @ Nov 12 2007, 07:00 AM) <{POST_SNAPBACK}>

Are there enough jobs here in NZ for commercial pilots with no hours under their belts? I know a couple who have finished their licence but both having to look overseas for work. One has gone to Fiji, the other still looking.

Depends what you want to do... I know for a fact that instructors are being to become very hard to find... as everyone starts moving up the ranks, instructors are getting harder and harder to find and maintain... AU flight schools are starting to offer fulltime salaries around AU$40k to $50k for B-Cats...

But if you're talking stepping into a regional job, then I would probably say that even with the shortages the answer would be no.

QUOTE (benwynn @ Nov 12 2007, 08:02 AM) <{POST_SNAPBACK}>

Your Better Off staying in Australia right now. Rex has a cadet program that goes for 32 weeks, after that you have a Job in the Right Seat of a Saab 340.

well thats fine, assuming you have the AU$80k to pay for it! Otherwise you're looking at a personal loan from the bank!! Granted they have some scholarships available, but you're still going to be looking at at least AU$40k (assuming they pay the whole 50%)... and you're bonded for 6 years...

[VH-CC1]

thanks the the replys guys, looks like the crazy aussie could become The Crazy Kiwi .

As for the REX thing, there aint much to see in aus. I'd rather be Left seat of a Archer 3 wih 3 passengers over Mt Cook

[benwynn]

Stay away from the sausage factories, all they want is your money. There is ABSOLUTLEY NO NEED FOR ANY AVIATION DEGREE OR DEPLOMER OR WHAT EVER TO BE A PILOT, the biggest WAIST OF TIME AND MONEY EVER ! AS for the student loans and sausage factories,- with the new part 141 coming out all flight trainging will have to be done under a 141 cirtificate (which is stupid,- even for me to do type ratings an stuff I still have to be under a 141), what this means is that all the smaller aero clubs and flight schools will have to get 141 and when they do, they are then able to provide NZQA acredited (and student loan funded) courses if they wish to do so. There is no need to go to like massey and donate a hundred and something thousand to their empire and come out with a bullshite degree and what ever which is going to do you absolutely no favours,- where as if you are smart about it and do the right things you can go to the smaller non-profit clubs, get every thign you need for possibly under 50k and come out with a job well on your way to a career as a pilot.

QUOTE

Are there enough jobs here in NZ for commercial pilots with no hours under their belts? I know a couple who have finished their licence but both having to look overseas for work. One has gone to Fiji, the other still looking.[/quote]

Depends where you look. 6 months ago the answer was a plain old NO. There were no jobs. Now we are on the way to pilot shortage,- no two ways about it. There is an increasing lack of instructors especially B cats. For those with no hours and an instructor rating you should have no trouble finding a job - if you want to go down the instructing route - dont recomend it. On that,- where did your friends do their licences ? I know several people looking for pilots at the mo.

With the Aussies, they are in big problems at the mo with their shortage,- again, a year ago completly different story. There is even strong talk of the goverment providing subsidised training and full scholarships.

QUOTE

As for the REX thing, there aint much to see in aus. I'd rather be Left seat of a Archer 3 wih 3 passengers over Mt Cook[/quote]
I'll tell ya what mate,- you wont find ANY archers up this way

A185F

Sim-holic

 

Joined: Sun Mar 04, 2007 9:25 pm

Posts: 613

Location: right behind my laptop

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[VH-CC1]

lol, been looking at ac's, Either CHCH or Waikato.

lol, ok swap the archer for a jump 206 over NZFJ

[A185F]

QUOTE (VH-CC1 @ Nov 12 2007, 02:54 PM) <{POST_SNAPBACK}>

lol, ok swap the archer for a jump 206 over NZFJ

It's a 185 and we're at NZFX ?? not FJ jump 206, crickey, wash your mouth out. They're inferior Better than an archer though,- go cessna !!

[VH-CC1]

FX? not Franz Josef?

lol, i'll compermrise, a turbo'd 182 with a constant speed 3 bladed prop.

[benwynn]

Well,

First off REX Pays for the Training, but your locked in to fly for them for 4 years (Or pay it back)

Second- Craig- It depends what you want to do. Keep your flying job small time or continue to airline flying. Flying with REX Would take you to Right seat in a 737 a hell of alot quicker than flying IFR GA around for a few years- And the pay is not half as good.

[VH-CC1]

as stated, i aint into AU flying. There's something about NZ that has got me hooked. The GF and I are looking at moving over so the Flight Training will be a bonus

[travnz]

BTW Air New Zealand frown on people that dont have degrees(which is stupid IMO)
Why would you spend $30K on getting pissed and attending uni for 3 years, just to then struggle through NZ GA with a degree that doesnt mean $%& ??

Much rather save three years of my life flying and using the $30K on flying

[VH-CC1]

If ANZ dont want me i'll live, As stated I'd Be happy to go up to 16000ft all day.

[benwynn]

Craig,

Well I just dont understand now. I really want to go back to New Zealand to live and fly- But I have to think weather its better to train in Australia or New Zealand.

Money is definently not how I want to live my life, but How difficult would it be to start a family on a single income of around $30K or Less Per Year. No an Easy acomplishment.

My Plan is to Finnish School- Enter QANTAS Cadets, where I wil attain a F ATPL and down, as well as an 18 Month Associate Degree in Aviation. After this course, back to New Zealand for 18 months work at Eagle Air (Qantas Requires work experience), then back to Qantas as a Cruise Pilot on the 747. After That Onto Air New Zealand, and then in the Long Run, Singapore or Emirates.

If money is an Issue for training- QANTAS offers Loan Schemes and many other airline will in the Next few years. With the Pilot shortage, more and more airline cadet schemes are opening up- So wait and see!

[VH-CC1]

I got no use starting my training over here and moving over there.. Even with the OZ pilot shortage that wont change my mind nor will the qantas[1] or rex training stuff.

[1] I'd rather WALK then fly with qantas!

[ardypilot]

QUOTE

qantas[1] or rex training stuff.

[1] I'd rather WALK then fly with qantas![/quote]
I like how you have adapted to HCP's footnote posting methods

[benwynn]

No Worries Then

[HardCorePawn]

QUOTE (benwynn @ Nov 12 2007, 08:03 PM) <{POST_SNAPBACK}>

Well,

First off REX Pays for the Training, but your locked in to fly for them for 4 years (Or pay it back)

errrr no... according to the REX website (and the FAQ download):

QUOTE

9. What is the cost?
The course fee is $80,000. This is all inclusive of CASA charges, exam fees, ground course
fees, text books, class 1 medical, ASIC, flight and simulator training as well as food and
board.

10. How does the cadet scheme work with regard to financial assistance?
The cadet scheme comprises 2 parts. The first part is a loan for 50% of the full course fees
with interest payable. All cadets will qualify for the loan and those who take advantage
of the loan are required to be committed to Rex for at least 5 years of employment. i.e:
They must not resign from Rex before completing the 5 years.

The loan is repayable over 7 years and repayment commences with initial employment in
the Rex Group. Repayments will be done by way of salary deduction and will be on a
sliding scale geared to salary so that the monthly repayment represents an affordable
proportion of the estimated pilot’s salary as he/she progresses in Rex.
The second part of the scheme is a scholarship which will cover between 50% and 100%
of the remaining course fees not covered by the loan. The granting of scholarships will be
at the discretion of the Rex Board but will normally be determined after the course
probationary period of the first 5 weeks. The actual amount granted will depend on the
performance during the probationary period. However the Board may consider granting
the scholarship at the beginning of training to exceptional cadets who would not be able
to embark on the training without the certainty of the scholarship. About half of the
cadets are expected to receive a scholarship.

The scholarship will be in the form of a loan which will be forgiven if the cadet stays 6
years with Rex. i.e: They must not resign from Rex before completing the 6 years. No
repayment for the scholarship amounts will be required during the period of employment
with Rex.
Those cadets that do not qualify for a full scholarship loan will need to source their own
funding for the balance of the course fee.

11. What happens to the loan if a cadet resigns before the 5 years commitment period
is completed? What happens if he/she resigns after 5 years but before the loan is fully
repaid?
If resigning within the 5 years, the outstanding Principal plus interest will be due and
payable immediately. The interest is calculated at 10% on a monthly rest basis.

If a cadet resigns after the 5 year commitment period but before the 7 year repayment
period then the loan is recalculated as if the interest rate were 5% from the start of the
loan and the cadet only has to pay the new outstanding amount. This amount will be due
and payable immediately upon leaving Rex.

12. What happens if a cadet resigns before the 6 year qualifying period of the
scholarship grant?
If a scholarship cadet leaves prior to the 6 year qualifying period the scholarship loan
becomes due and payable upon resignation at a compounded interest rate of 10% from
the date of first employment with Rex. This will be in addition to any loan repayment
specified in Question 11.[/quote]

So they will loan you 1/2... and may give you a scholarship for some (or all) of the other half... either way, you will be paying at least AU$40k (+ interest if you take the loan) for this course... and then you're bonded for 5 or 6 years... or you're looking at a hefty bill +10% interest!

Last edited by HardCorePawn on Tue Nov 13, 2007 10:15 am, edited 1 time in total.

[creator2003]

QUOTE

$80,000[/quote]
That sounds pretty cheap really taking into account you have board and food included .

Loans Loans Loans ,we are to easy to jump into debt and pay it all back with our mcds job one day ....saving money or getting family loans/give aways are alot better to move ahead without the 20 year $5 dollar aweeks paybacks ..