Certainly the problem was when such funding became interest free while still working in NZ. I admit that I used the interest free training to get into the industry - even or though I had the money. It just made economic sense to put $50,000 into an investment account for five years earning 6%, borrow the $50,000 from the government interest free.
When I left the country I paid the balance of the money owed back and made close to $15,000 on the deal.
I know that I'll be in the minority having worked and saved hard in order to have the funds available for my flying training. But maybe going through your CPL etc will be once again a show one passion for flying, if one has to self fund the opportunity?