So I guess now all flying schools who have access to these VET loans will start charging $150k for a CPL plus the extra $30-$40k for an Instrument or Instructor Rating.
These are significant loans that are being imposed on 18/19 year old school leavers - who probably don’t really grasp the magnitude of that sort of debt.
Add into the equation the very low completion rates of some of these schools - I fear that this will end in tears for a lot of people.
Obviously the flip side is the significant costs to become a commercial pilot nowadays, and this will enable some people who may have always dreamt of becoming a pilot (but didn’t have the financial capacity to do the training) the opportunity to do so. Again it would be difficult for people at those young ages to be saving the sorts of money required for commercial licenses.
Unfortunately, I feel as though the cons of this far outweigh any positivities.