I would spend a few hours reading these pages.
CTC does not guarantee you a job at the end of your course. At best you'll have to fork out over the odds money for a type rating and then you'll be "employed" for 6 months at pittance wages and then turfed out onto the street again.
There is unlikely to be any significant hiring of low houred pilots until 2012 or 2013 at best. The company I work for isn't looking at any hiring of any one until 2013-2014.
My personal opinion, if you are going to have to borrow a significant portion of the training fee, go modular and time to finish your IR during 2012.
If however, you can do the course debt free, then you're in a very fortunate position.