Don't forget other costs like the iPad and the apps, fore flight subscription, that will throw you back about 600 bucks if you buy the 16gb wifi only. If you want gps, buy the 3g version or a bad elf for $100.
I don't have any experience with the school, other than the few phone calls I made to them, but like what DALFA said, they are just expensive. Their financial "experts" will only do what they can to get you to take out the loan.