Tue Jun 12, 2018 12:36 pm
There are insurance schemes that will cover you if you fail to complete the course. - for some schemes the insurance is expected / required. Read the small print.
Most of the schemes require the loan to be backed by someone or something (for example, a parent's house) although not all - sometimes the airlines will back the loan (but again - you may need to pay back more via salary in the long run, paying the airline for the risk they took on you). Read the small print.
Some schemes will include the training and board, but not food, uniform, travel. Read the small print.
With the loans that are loaded on you, you will be essentially forced to remain with a sponsoring airline for many years, with your salary heavily docked to pay them off, being sent wherever the airline wants you, for the first part of your career. First officer take home pay is not big for the first few years.
Most pilots who go to the airlines go though these schemes - it is much easier to get a job at the end of training via a sponsored scheme. Only a few unlucky people have got burnt by them (one of the larger training providers folded a few years, leaving many people in the lurch).
The schemes generally end up with you getting an MPL and perhaps a Type Rating. This (ironically) doesn't let you fly small aircraft after you've finished (you don't automatically get PPL or CPL privileges or an SEP rating) . Some providers allow you to get that as well. Ask them & read the small print.
Oh yes - did I say again - Read the small print. You may have to ask for the small print to read.