Paul,
No need to get shirty. Having read your initial response again, I can say that you didn't already tell us that those who didn't get jobs would be transferred to the standard ATPL.
What you did say was that those who weren't hacking it, that is, achieving at least 85% in flight tests and exams, would get dropped to the standard course. This is a different point altogether.
If you are now saying that those who don't get jobs will get £11K back, then fine, but you only said it once not twice.
As for the possibility of the airlines deciding to part-sponsor candidates when they are already on the course, this is still only a possibility, so there is a chance that a candidate will stay on the higher course, get a job but not be part-sponsored, hence will still end up with a £65K + food + lodgings -sized loan to pay off.
Judging by the starting salaries of most airlines, this means a large chunk of money to come out of their salaries each month, so you can understand why they are budgeting on the worst case scenario rather than assuming that the actual cost will be less due to getting part-sponsored, or dropped to the standard course.
TB