I agree, the concept of ESPT seems like a great idea - a 'no money up front' package enticing potential airline pilots with offers of well paid jobs with major airlines.
Also, possible selection by BA is a major selling point. Excellent for BA too - they get to observe potential candidates during the training process (identical to their own Cadet Entry Programme) and hand pick the best pilots for themselves. Thus, they virtually eliminate any of the risk (and the vast majority of the cost)of their own training programme. There is, therefore, a mutual incentive for candidates to excel and the 'majors' to take a positive interest.
Whether the $88.000US (around £62.000)loan from ABN-AMRO is a prudent financial undertaking is another question. Also those (presumably the majority) who are not selected by BA have to pay an additional £7000 to cover Jet Orientation as this is not included in the $88.000US loan. The website is rather sketchy regarding the issue of loan repayment, but indicates that it would probably be repayed over 10-15 years. Not sure what the interest rates are, but you can be sure that ABN-AMRO are not offering this out the kindness of their hearts!
Just a few thoughts, but I'll certainly give them a call and ask some more questions......