Let's hope they didn't sign up for training loans or anything else that they are personally liable for. If they did they'll have a heavy debt to carry. Caveat emptor/
happens.
Of course they did, there family capital will be up as security.
But the fact is they will be able to fly 2 cadets for the same price as one senior FO who is out of bond including all the associated yearly training costs.
So to be honest I think they will be pretty safe as they will have been based somewhere which won't be in the firing line for cuts. When the cuts go through the base will be safe but no room for transfers. So the more expensive pilot will be made redundant.