I paid for my own pilot training up to IR / MCC and I make no apologies for doing so, however it took me 15 years of another career and a Bachelors and Masters degree in order to get into a financial position to do so. (as well as giving me a reasonable 'fallback' in case it all went pear shaped)
The current glut of trainees is due almost entirely to the ease of borrowing money - how many of the 20 somethings at Oxford could actually 'afford' the training (i.e write a cheque) compared with how many could borrow the money?
This flow of cheap easy credit has now stopped - for ever - so I think there will be a slow but sure adjustment as the pool of available pilots slowly empties. Of course people with deep pockets will still do the training, but when you are risking your own money and not the banks then its a different prospect.