I probably wouldn't take out 46k in loans to get a pilot certificate right now, but to be fair I didn't take out that many loans when I did it. I might accept the arguement that doing so will get you your ratings faster and therefore more able to build you time to get a job and be ready for the next hiring boom.... In my case I did my ratings too slow- when I was in school there were no jobs... so I took my time... then there were lots of jobs... I caught the end of the hiring boom and got furloughed... now for the second time... guys that were ready 6-9 months earlier are still at work some places... not all places though actually. It's all luck really. The upside of no loans is no huge loan payments... you might want to check what those loan payments might be....

Lastly, if the "questionable place" you're going is Gojet, then no I absolutely wouldn't do it. I probably wouldn't do Gulfstream either, any place else... say what you will but I won't look down on you. I had a friend go to gojet and literally I feel like the parent who's kid just really really disappointed him... I'm not really sure I can be cool with this guy ever again. That's how I feel, you'll find various opinions. I may never be on a hiring board, but if I ever am no gojetters will be hired. Maybe the whole lot of them will get lucky and be merged into trans states and thier names will be forever masked from shame... it's something for them to hope for.