The answer, at least until things get better and thats a big maybe, is to have something else to fall back on. I'm now on my second layoff/redundancy and despite the possibility of another flying job I am giving serious thought to gaining a usable qualification outside of this industry of ours. This scenario happened in my previous profession (engineering). The whole thing fell apart, training vanished, all the jobs became contract/freelance and I got into flying, partly because it offered a permanent, pensionable position. What I didn't reckon on was the instability, the seniority system which works fine at BOAC where you join at 20 and never leave but screws you in the real world where carriers go bust and layoffs are common and the inescapable fact that we are heading down the seasonal/contract/dock labour type schemes where you pay for everything. Including the right to do the job or get promoted it seems.
I love to fly. Thats the main reason I did it. It's the best job you could have but it has become the worst possible career unless you are in your last 5 years at BA. The job I am after is only part time and I reckon as the economy tanks further and trading conditions get tighter, coupled with more expensive and increasingly scarce oil plus governments determined to screw the last tax penny out of the industry and it's customers, more if not all pilot jobs will go the same way. I don't mind flying 6 months out of 12 but I'm damn well making sure that I don't depend on it any more.
I am sorry to have to say this but if I were thinking of starting out in aviation now, I wouldn't. I would fly for fun but there is no way I would depend on it to provide a career until I retire. I'm afraid that those here plunging themselves into tens of thousands of debt are on a hiding to nothing. You may realise your dream, but in 10 years when you have mortgages and kids etc your dream will be an utter nightmare as you earn less and less for more and more and job security becomes nonexistent. Unless there is a sea change in this business which sadly will take a fatal accident or two to bring about, you would be well advised to have a fall back position for the frequent periods without work and to provide the retirement which no airline will do in the future. Think about it.