I absolutely agree FANS. I would also add that it isn't necessarily a case of people/parents having the money, so much as them having the assets to guarantee loans for that money. For your 21 year old paying back these loans over 7 years that is a large chunk of money, but over half can be idealogically offset by mitigating what might otherwise have been university fees and expenses for four years. That is before the alternative vocational fees and costs even come into play.
These placements (for the first six months) are simply a part of the cadets advanced training. Prior to the recession (and to a limited degree even now,) some of these cadets get placed with airlines where they pay nothing for their type ratings, and where they live on flight pay/ expenses from the airline concerned, as well as a return of part of their training costs (bond) on a monthly basis. During this recession, there have been very few companies offering placements. One exception has been this large "lo-cost" company, who has written their own rules to reflect the fact they are a large buyer in a marketplace that is almost empty of buyers.
So however good or bad the reality, the option is what? As FANS has said to spend the next decade hoping something better will come along, or fritter good cash after bad trying to keep those expensively aquired licences alive on an annual basis. Whinge on internet forums, about the relative merits of modular/integrated training? Debate the wisdom of handing over cash to some dodgy outfit in Indonesia promising type ratings and vanity line training?
The training sums involved are about the same as buying a poverty spec Audi R8 or a reasonably well equipped Mercedes SL500. The car will hold around 40% of its cash value after 3 years but will earn nothing. The licence will have no cash value at all, but will enable those following this route (where available) to earn a salary.
In 7 years time (all being well) the 21 year old is now 28 with their training loans paid off and hopefully in the same boat as everybody else. They have served their apprenticeship. Financially it was a bit of a struggle? (Shrug!)