I don't know what the agreement is with CTC and their students about the financing side of things, with the 3rd party/bank providing the loan
Basically, the arrangement is "you obtain the financing, pay us, and it's your responsibility to make the repayments". CTC cannot and do not get involved in the individual relationship between the cadet and the bank - once the money has been drawn down, it is the cadet's problem. Even in the good old days when it was that HSBC would grant the whole amount unsecured, on the back of the course's reputation, placement record and the availability of cheap and easy money, once the financing arrangements were in place to pay for the course, CTC themselves were not, and are not, party to the cadet's banking setup.
I wonder if their payments will be delayed and they may only have to start paying back when jobs come about?
In the past this was often possible - all it would take would be a quick phone call or a pop into the branch. Since the financial meltdown, things have changed a bit and, suffice to say, HSBC have lately taken a rather (actually, make that very) aggressive stance on obtaining repayments.