I woundnt want to pay but to be honest, there really isnt much of an option, the surplus of pilots and other issues already pointed out here sum up the situation. As bad as it sounds I guess... But I would agree that the best way is to wait until you secured a job then do the type rating. I think that with those contracts in hand many pilots get their loan for the type rating, makes things easier with the bank, especially if your trying to get it unsecured...!?
Perhaps there should be a change in the way that you become a pilot? For example to bind you to a contract, both parties?
Let me expand, say you have just a PPL, Night Rating maybe ME (something quite basic, so your hours would be maybe around 100 or 150) and ATPL theory (it would have a 1 general resit test once every 36 month just to make sure your knowledge didnt go if you didnt move on to CPL/IR). However you cant advance further, you will be limited, the only option would be to go to airline interviews and if you are successful you will sign a contract with an airline, only then you can advance further in training to get a CPL/IR/MCC/TYPE, perhaps the training would be sponsored, but the main idea it would tie you to an airline, hence wouldnt be so many guys in dept and so many unemployed pilots. The contract would last 5 - 10 years or till a minimum of until your fATPL would be unfrozen, before that the airline would have to refund you anything you spent on training!?
This is just an idea on the spot...
Obviously more changes are needed in the industry... But the situation now is unacceptable...