Flyhigh744 i was also told that the flying can only be offset in conjunction with a diploma..and also that you can only enrol in the diploma course if you have already commenced undergraduate studies.
So basically the uni that gave me this info said that you have to start the Bachelor degree at the beginning of 2009, then, instead of starting the flying training at 6 weeks into the course, you have to hold off until the second semester which is when you can start the diploma. I was told that that is the only way to take advantage of the $80 000 system.