Whilst it is likely the FPP will run next year there are no guarantees and no-one knows how large it will be.
I certainly would not place all your eggs in one basket. The scheme is incredibly competitive and the large majority of successful applicants for 2011/12 have degrees and some interesting career experience. Furthermore, there are other schemes with Flybe, CityJet, easyJet etc that I would recommend you looking at in addition to the FPP.