What I know about this MPL programme is from this thread, so I may not be totally clear on the minutiae of the details.
However, if you are genuinely considering this scheme - with the emphasis on the word scheme - I think you might also want to consider some form of lobotomy whilst you're at it.
This is not just the equivalent of paying above the going rate for driving lessons to be rewarded with a licence that lets you drive just an automatic - but one specific automatic owned by a bastard.
You're going to have less employment options than an illegal who has just been trafficked into Europe in the hold of a fishing boat. You're going to be able to work for one employer only. Does that sound like a recipe for decent employment? You'll be indentured servants - to save you googling that, the airline is going to be the pimp, no prizes for guessing what you're going to be.
Picture round:
You're a teenager, you're going to borrow 100 grand. You're not Mark Zukerberg, you're borrowing this so you can earn a qualification that will let you work for one single employer in the whole wide world - and that employer is not even a premier league football club.
Your parents saw it at 17%, you've seen it at half a percent - so let's disregard these extremes. Apart from about 6 minutes in 2001, the base rate has been above 4% for all of your brief lives. At 4-5% you'll be paying 6-7%. You will need to cough up several grand a year to hold the amount steady. Remember, don't skimp on your repayments, at 7% that puppy is going to double in size every ten years. By how much are you going to be able to actually take it down each year? Try again, on the peanuts they'll pay you, you ain't. You're going to have to live with it, like a facial tattoo. Actually, your folks are going to hve to live with that tat because they're on the hook too. No pressure then.
You can't fight these graphs, ask the Greeks.