Really good post there BitMoreRightRudder, I remember when applying to the CTC scheme back in early 2007 that first paragraph was how previous cadets had described it to me. Selection was totally down to ability, since all I had to do to get the entire amount was turn up and sign a bit of paper. The foundation course is now NZ$17k which at todays exchange rate is around £8k. Bit of rough maths, £69k bond, £8k foundation, £10k living, £28k type rating. I make that £115k, now add the interest. Lets be conservative and put £10k interest on that. £125k of secured debt, earning £20k a year...
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