EK,
I don't care what they call it. They state very clearly that it is a loan. The name has nothing to do with whether or not any individual might wish to apply for it.
The main thing though is that my posts are rebutting the ignorance about MPL, not saying whether the market conditions are ideal for doing it right now.
All wannabes who fund their own training are taking a risk that they will end up at Ryanair or the likes forking out for a TR. Having seen a contract for a flybe cadet a few years ago, I can say that if flybe doesn't take these guys, they don't have to repay, which takes a bit if the sting out of having to fork over for Ryanair.