There was much discussion over on another thread a while ago about how some overseas school had put pre paid flying in the assets rather than the liabilities column....made the balance sheet look great even though they would have been insolvent if they had had to refund all pre paid money. I think that included groupons or something similar, there are many of them.
I would like to see how any of these schools that are being heavily subsidised by the government would still be around if the taxpayers' money tap was turned off.
As a taxpayer I am not happy that the amount these people have lobbied for has been approved to increase to $150G per student. In my experience we had a stude who had nearly finished PPL, then got sucked into one of these courses "Sorry to leave but they are offering me free flying" he said.. They made him start all over again. They bled him dry then went bust. He still had no PPL and a massive debt. Understandably, he gave it up. For the amount he was loaned, he could have finished his CPL with us and would be in an airline by now.