I finished modular training in 2004, still working as a flying instructor 5 years later. Spent about £50000 in total, escaped with only £26000 debt due to spreading it out over a few years and selling my house for a small profit.
Now in 2009 I am still £22000 in debt. The reason I have paid off so little is that when I first started instructing I was bringing in less than £10k a year. Loan repayments plus rent added up to about £750 per month (more than my monthly take-home) so was actually having to borrow more money each month to make the repayments on other loans. Basically was just moving money from loan to loan.
Am now on a half-decent salary as an instructor and am just breaking even each month. As a result the debt has started going down at a faster rate. However, my flying school is looking like it's going to close soon. I haven't even been paid for last month so am working for free already. I have no idea how I am going to continue to make my repayments and pay my rent. It's only during the last few months I've even managed to break even, and it's going tits up already.
I have no idea why people would take on £60000 debt in one go. When I trained and borrowed money, I assumed that I wouldn't find a job and would have to make the repayments on a low wage. I think that's the safest way.