Cynical?
In 1995 I paid £35000 up front for an ab-initio course. It took 3 years to find a job with a turbo-prop operator earning £16k (and that was one of the better ones).
Fast forward to 2012 and the course probably is £75-85k, but BA will guarantee the loan and offer you a job on completion - and you think that's a bad deal.
Wake up matey, there are hundreds of graduates from the likes of Oxford, Jerez who are currently loaded in debt up to their eyeballs and have no work.
If you think it's a poor deal being offered by BA then don't apply, let someone else have their chance. If you do apply, with an attitude like yours, BA will find you out.
Enough said...
Current BA pilot (and yes, I'd have given my right arm for this deal in 1995)