Ok, despite being a bit vocal, I don't really want any more to do with this thread (save the amusement it provides). But I will try one last time to clarify at least one point.
The netjets scheme does NOT require the student to pay back €20000 per year.
How you pay for the course and - if a loan is required - pay it back is entirely the students choice. If you happen to have £65000 in small denomination used bank notes lining your mattress, then you can pay that way. If you need a big loan from HSBC or any other lender, you can pay that way. If you need a loan and can somehow afford to, you can pay it back over one year or eleven, it is entirely your choice. Neither Netjets, OAA or HSBC (well, the latter obviously do make some comments and have a say) dictate how much or over what period you pay back.
So, now we've got that cleared up and we're all clear that the student can determine how they pay and over what period they pay back, we get to the Ts & Cs of the NJE contract. BTW, I didn't get in, so I'm not defending it, just adding a dose of realism. The remuneration on offer from NJE to successful applicants to the cadet scheme is €56500. This should be considered as the salary for the scheme. It is the same as direct entrant F/Os are on.
The bonus (or one of) of the scheme is that of this €56500 salary, tax law enables NJE to pay €20000 of it back TO THE STUDENT AS PART OF THEIR NORMAL SALARY tax free, considered as a "reimbursement of training costs". This means that the cadets are better off than someone who enters NJE directly by the amount of taxation one would pay in ones country of residence on €20000 of earnings at the rate applicable to earnings of €56500 - In the UK, this amounts to a benefit of about £4-£4.5k per year.
Clearly, if you have a whacking great loan, then this needs to be serviced out of whatever you take home each month, but if you're slightly better off as a result of the tax loop, then this enables you to pay off the loan quicker (as you have a better take home than someone NOT on the scheme) than otherwise....IF YOU CHOOSE TO DO SO.
The amount you repay to the bank each month remains your choice.
NA...you appear to have got this point well and truly confused to the point where you think the cadet pays back the €20000 per year to the bank every year for six years...the truth is that you pay back whatever you've agreed to the bank to service your loan for however long you've agreed that loan over....NJE pay YOU the €20000 tax free for about six years, you then move to your whole salary being PAYE. If you have the money to pay for the course up front, my understanding is that you still get the €20000 and are substantially better off.
I hope this clears this point up once and for all....if not, I'm not going to try again....