Even for those youngsters with visions of shiny jets in their eyes the staggering costs, and the added little kicker of the inability of those holding student loan debt to re-finance or discharge that debt in Chapter 11, and this is another story entirely, is a major obstacle. Why would any one take on that burden for a job that will not pay enough to pay off the loan?
Zaphod,
I'm not sure that those kids with shiny jet syndrome really look into the serious (potential)financial downside of flying for a career. 3 years ago, I volunteered at a careers day at the club where I learned how to fly. Most of the time my serious advice to 'make sure that you have a plan B' was received with glazed eyes, and a 'that's for those other losers who couldn't hack it as a pilot' shrug. People just don't see (or, more likely, don't
want to see) the $20k jobs starting out - they see the (apocryphal? legendary?) 10 days a month, $250k, end-of-career jobs that airline flying is glamourized as being.
Also, I don't think that they realize the serious limitations that an MPL licence will place on their career - all they see is that shiny BomEmbBoBus standing at the gate...