This concept is dead on arrival. First of all, you'll never get a financial commitment from an industry that's hell bent on cutting costs to the bone; labor probably would not "buy in"; the government simply doesn't have the backing from Congress to implement such a scheme and, as several have stated, flight schools would lobby strongly against it. There are too many avenues that a prospective pilot can take today to try to fulfill his/her dream.

Sorry but Mr. Allen had w-a-y too much Kool Aid to drink that day.

G'Luck Mates