If Ryanair were the only offer on the table. I would not take it, unless I had £30,000 in the bank that could not be spent elsewhere!
I think its very easy to follow your dream and let common sense fly out the window. People are exploting you for your dream!
Personally I would not want to get myself into that sort of debt, i fly because i love it and it improves my quality of life. But what sort of quality of life will have have when I cannot afford to feed myself, put a roof over my head or petrol in my car.