Docash,
Having looked at both courses the bottom line is essentially the same: it will cost around £70k (CTC) - £75k (OAT) to complete the course.
CTC is highly selective and those that complete the course will continue on to do their type rating with one of the partner airlines (or wait until they get sponsored by one of the these airlines). This is as close as you can get to a guaranteed job in the cut throat world of aviation (provided you are successful). The employment statistics are such that HSBC will offer an unsecured loan since it is so confident that those selected will complete the course and start earning a salary within a matter of weeks. Since you are bonded however, this salary may be slightly reduced (since you will also be paying back the bond at the same time).
OAT has a higher turnover of students and whilst it will work hard to secure your first job, unless you manage to get a place on the NJ/XL/TCA/FlyBe schemes there is no guarantee of a job. The employment stats are currently encouraging but it may be take a little longer before you start earning. Consequently, since there is more of a risk that you will complete the course with massive debts and not walk straight into a job, HSBC stipulate that the £50k (max amount) must be secured. You will also notice that this leaves a funding gap of £20-£25k which must be acquired from other means. A large number of OAT students go to RyanAir who charge you to obtain your TR (could be as much as £20k extra) but, since you funded your own type rating you will not have a reduced salary to cover the costs.
Swings and roundabouts really, but both have a good reputation and, either way, you need that tick in the box before you get let loose in the right hand seat.
Hope this helps,
Charlie
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