About two years ago, I started to follow the progress of a group of "wings" trainees as a "snapshot" of what happens from start to finish. That group followed the normal training progression path for this type of course. After 17 months of training, the majority of this group (21) completed their fATPL basic and intermediate training courses, obtaining their CPL/IR, MCC course certificates and Jet orientation courses. They then took up placements with a partner airline that paid for their type ratings and offered 6-7 month placements on an A320 aircraft. The "cadets" received about 12% of their training bonds back during this period by way of "subsistence" as well as their airline generated flight pay and allowances. Having now come to the end of their "placement" periods, those cadets (with around 500 hours on type,) are now being offered full time employment contracts on cadet salaries of around 45K, with an increase to non-cadet salaries of around 57k in about 8 months time when they complete 1000 hours on type.
As hard as I try, I cannot find anything to wring my hands in despair, about what amounts to a 3 year ab-initio apprenticeship (funded for the last 18 months,) leading to the job of full time Jet First Officer.
Those cadets (with continuing favourable winds) have been able to live and service their training loans. They can also reasonably (if they so choose) amortize the remaining balance of those loans realistically over the next 5 to 6 years. In addition there are (voluntary) schemes in place to make the repayment of the loans tax advantageous. On an outlay of circa £85,000, the income breakeven point (in these examples) would occur within around 24 months of airline placement.
The above example is a "snapshot," and each placement (partner) airline sets it's own terms and conditions. Clearly some are much better than others. Having said that, over the last few years had it not been for one large expanding airline (easyjet,) the number of placements on offer would have been through the floor. Terms & conditions offered as a part of these placements (whatever your view of them) reflected the true state of the general market, and the specific segment of that market as it applied to apprentice "cadets." As "holding pools" filled up, so these placements kept movement and flow in the advanced portion of these training programmes.
This, together with expansion in one or two other partner cadet programmes, saw the "hold pool" all but evaporate by the beginning of 2012.
Taking a "snapshot" is all very well, but good or bad, it simply reflects the market situation at one point in time. In itself it cannot be a reliable indicator of the future. It is but one tool in a big box. My advice to anybody seriously looking for a fasttrack airline pilot apprenticeship programme, is to apply for this course or for a similar course with another FTO that can provide similar (or tied) opportunities. That advice is tempered by the obvious cost risk, inherent ability risk, lack of guarantees, and instability of the general employment market.
These programmes (with all of the associated risks and lack of guarantees,) are aimed at airline pilot fasttrack careers. In other words Cadet programmes. If this is not what an individual is looking for, or they simply want a licence, I wouldn't advise this type of course at all, as it would be largely pointless, and deprive somebody (who did want it) of that albeit expensive opportunity.
In your case, based on what you have stated, I wouldn't advise going down this route. However I would be very wary of convincing yourself that "picking up TR's quite cheap" is a sensible mindset. Many airlines with cadet (low hour) programes, are also TRTO's. A "cheap TR" that wasn't part of an employment programme is likely to raise "red flags" rather than be viewed as some type of enhancement or asset. A lot of people have discovered this to their cost.
I will sum this up with a hypothesis.
If I were offering the finance and the guarantees (which I am not,) and asked you which route you wanted to take, I would be amazed if your honest answer (assuming you were looking for an airline cadet programme) was anything other than CTC or a similar affiliated scheme. Therein lies the honest answer. It becomes a question of how much risk (financial and personal) that you are able and/or wish to assume.
These cadet programmes place you in a room that can become very crowded at times. Entry to the room is expensive. There are cheaper options that allow you to stand in the field outside. This field is even more crowded, stretches over the hills and far away. There are ways out of the field that usually involve "stepping stone" jobs as and when they can be found. There are a lot of people fighting to get on these stepping stones. Licences are a perishable commodity (however much they cost to obtain,) which can make the bargain less of a bargain as time and natural attrition progresses.