For me this thread has rather failed.
I had hoped that finally a thread might highlight the shameful exploitation of students by the various FTO's and TRTO's. Many would like to hold the loan recipient soley responsible; I do not support this stance.
I hold culpable the loan recipient, Finance House, and FTO/TRTO.
To this end, I concur with WWW that if any 'toxic' training money goes unpaid by declaring 'Bankrupt' then ultimately the industry will 'clean up' its sharp practices. Sponsorships will return and TR's will be fully funded (as should be the case)!!!!!
Sadly, (or perhaps thankfully), loans would appear to be being serviced and hefty interest continues to be paid. Ironically in the absence of jobs, Flight Training Loans would appear to still be statistically a 'good loan'. I guess as they are typically secured on a 'upper middle class' parents house thus making payments is to be encouraged.
Yet still the balance of the thread is that all is well. Loans ARE being serviced and HSBC must be delighted. This being the case nothing will change. It looks like, along with our friends at CTC, the banks want their piece of the Wannabe purse.