The loan that is taken out is yours, so if anything should go pear shape during training, it's on your neck.
The loan is unsecured and you don't have to start paying back until you complete your training, 60k of that is for the bond which is at first given to CTC and later to the airline.
When you are with the airline you receive 1k per month from them in order to coincide with the loan repayments.
That is as far as I know, the current arrangement.
I hope that answers your question?