Apologies if this has been asked before, but what happens if you fail the course or fail to complete it?
Will the loan be quashed, including interest charges incurred, or will it still have to be repaid at least in part or in full?
There may be some minor modifications with the specifics, but the general answers to your questions can be found on the CTC website:
What if I fail during the ground school phase of training or the foundation flying skills course?
During the Ground School phase of training, or the Foundation Course, you will have benefitted from many of the items provided as part of the Wings programme (for example ground school tuition, accommodation, training materials, uniform, course equipment and air travel).
If we terminate your training during either of these phases or training, depending on the circumstances of this termination you may be entitled to a security bond repayment being the lesser of the security bond deposited to date, reduced by an amount not less than £9,000 (this amount retained being compensation for costs incurred) and £40,000. You will also receive from CTC Aviation Training (NZ) Limited a refund of any unused Foundation Course training that you have paid for.
What happens to me if I change my mind and decide to leave at any point during the training course?
This would result in a termination of contract with you and you could potentially forfeit your bond repayments made up to that time. Additionally you may be exposed to additional costs.
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What is my liability for any loan I take to fund my bond?
Whether you provide the bond through bank finance or another source, you will remain liable for the bond. However, on employment with an airline you will benefit from a contracted commitment to repay the bond through monthly repayments over a set period of time as agreed with your sponsor airline as long as you fulfil your employment commitments.
As with all terms, these arrangements can vary depending on the recruiting airline and current requirements.
If you look at this and the other relevant training providers websites, it should give a broad answer to most of the questions.