I thought I'd add my two cents worth to this whole CTC debate. I'm currently at uni and dreaming of becoming a pilot. If FPP is still around in a few years of course I'll apply, along with any other decent sponsored/mentored schemes. However, there's a difference between commitment and dedication to achieving your goal, and financial suicide.
If you can afford to pay for the training, good luck to you. If not and your relying on loans, is it really worth betting your or your parents house on there being a job for you that covers the bills post-training? We're in a recession and the situation in Europe is worsening. Easyjet are slowing down on growth, TCX was close to bankruptcy just last year and other CTC partners are hardly what you'd call safe. Even if you get lucky and there's a job for you, the terms are lamentable.
I'm hoping that if I'm fortunate enough to get a decent non-piloting job in the mean time, waiting for better schemes like FPP to come up will work for me. A lot can change and the jobs market could look vastly different in 2/3 years time. It would only take a few airlines to start better ab-initio schemes and CTC would start to struggle for quality applicants. If it doesn't and CTC is left as the only option, then I'm afraid I don't want it badly enough and I'll settle for a different career.