Is this such a terrible idea? As remember it (3am after 14 pints in an establishment specialising in fermented products) going bankrupt would be a viable opion for your young lad. Two years attempting to pay off his debts whilst living on not of course. Afterwards he'd still have his qualifications, the airline industry should have picked up and he wouldn't owe the silly ******s who lent him all that money a penny. Ok his credit rating would be pants but he'd have the potential to more than make up for it with his profession.
Come to think of it I wonder if I could persuade one of these 'we'll financially rape you with a smile' cheap advertisement slot type companies to lend me huge amounts of wonga.
Any lawyer types (boo hiss) who know the exact requirements/pitfalls to bankruptcy??