Encouraging people to go bankrupt is not the answer. Some of us secured decent careers in order to fund the training / have a job to support the debts post training. As far as I am concerned and it is finally happening if you encourage people to file bank rupt then lending institutions will start to view lending for pilot training as too high a risk.
HSBC no longer offer loans for modular training, I was able to sucure a loan from my own bank based on my previous financial record , therefore I wasn't reliant on HSBC.
Nothing wrong with borrowing 60 - 70000 if you have the means to support the loan from a previous career post training.
In other words flying is worth the debt, but keep the debt to levels that are comfortable.