Ok, I understand it a bit better now having read a thread on the oxford forum. Assuming what X3k5 posted is correct, £33,055 in year one before tax and NI. Then the loan repayment is taken out before tax at £1000 per month. So that leaves you with £21055 before tax in the first year. You are not tied to the airline but you still have the loan to pay off if you leave. for those who can't be bothered working it out, £1000 a month for 7 years is £84000. so it's a better deal than having to pay the loan from your net salary, but in my opinion, still very expensive. Someone on this scheme could be starting in year one with the airline beside an ex modular student (earning the same £33,055) who only has £20k to pay off instead of £84k..... I know that kind of situation would really piss me off!