Sure the student is holding the debt, but BA acts as a guarantor. In my opinion there's a difference with fully privately financed programs, where your parent's mortgage is the guarantee.
Obviously the contract BA offers is conditional. They offer a contract. A contract is always based on ifs and thens. An unconditional offer would be a blanco cheque. No company does that, especially in an industry as volatile as the airline business.
Besides, I agree with 4015 @#
1056. The FPP-jobs aren't required for another 2 years.