Having gained a degree and now training for the ATPL, I agree that the ATPL exams should be eligable for some form of grant/student loan. As for the rest of the training it is highly debatable, but ultimately it is down to the airlines to ensure they get the pilots they require.
It would be nice if the ATPL training was regarded in the same light as a degree, in terms of being able to get subsidised loans and recognition of the academic aspect. However, it seems it will still be regarded as an expensive hobby for some time.
TCM