Why should an FI have to pay for a part of recruitment process? I can make a judgement on an FI without a checkride. The flight is just ticking a box and for me always just confirmed my views.
I can understand why schools with enormous turnovers of FI's might think about it, but if I was them I'd be looking more closely at their recruitment procedures in the first place and trying to minimise the turnover.
You can look at it two ways. Whilst you want to minimise "tyre kickers" what is there to stop schools using FI "checkouts" as a cash cow themselves? Interview 20 people, fly with them and then only employ 1.
If I go to work for someone, I expect to be paid for my time. I do not pay to work. Maybe I'm just old fashioned, but if I was asked to pay for a checkout at a school, I would walk away without a second thought.