I have to agree with YBRM that the bond option is a much better alternative. However I think you will find they will become a thing of the past in the not too distant future due to a recent court case over a bond.
Apparently a pilot was trained on a dash8 at the company's expense and she happily signed up for a bond, but after gaining some experience on type it opened up an opportunity with a regional airline that operates the same type, which she naturally jumped at. She then decided that she didn't want to pay the previously agreed to bond, so the case went to court, and said pilot was victorious.
I am not taking sides here, but I think this type of behaviour has hastened the introduction of the pay-for-training scenario we now see very prevalent on Oz aviation.