EGCC,
With all due respect, why would anyone necessarily want to spend 5 years and £35,000 going modular with no guarantee of a job at the end of it either?
You could have a PhD/Msc or MBA for less than the cost of going modular and in almost half the number of years. That might also not be everyones cup of tea, but given an fATPL and no job is about as useful as tits on a bull anyway everyone is in the same boat.
One of the prime arguments against this scheme seems to be a potential for lack of recruiting and/or substantial job losses in 5-10 years. If that is to occur, having done a one year intergrated "career-break", blasting yourself 60K into debt followed by a return to the work force if it all goes wrong might not be such a silly idea. A lot can happen in 5 years after all.
I wouldn't throw £35,000 or £60,000 into either, considering there are no hard statistics on employment potential, increasing political and environmental pressures on aviation, not less that most market booms (such as aviation is seeing) generally experience similar sized downturns.
At the same time, there is very little else out there in the way of schemes that offer even a conditional guarantee of employment and such easy access to finance. I'm sure anyone even considering an ATPL will have some kind of financial reserve so for just how many is this scheme actually going to put them 60k in debt?