This is the fox in the chicken coup.
Very soon some graduates from the various bank-funded schemes that claim sponsorship status (I'm looking at you Dibden) will not find a job. Certainly not one that will pay them a living wage plus loan repayment.
As soon as the first unlucky youungster with no dependents, no assets and a big loan realises that he or she can go bankrupt and have it over with in less than 24 months then the flood gates will open. Bank loans will evaporate in the middle of the afternoon that the judges insolvency judgement is handed down.
You cannot persue a debt against a man who has nothing, no means to pay and a court protecting him.
You certainly can't take his little blue CAA license book away from him.
The banks will work this out eventually.
The schemes as they stand will die on their arse.
WWW