I think that someone starting in this field now might actually have a future, compared to some of us who just had bad luck and bad timing. I've been a professional pilot for 22 years, and unfortunately because of 9/11 got stuck at a regional for 13 yrs (and counting). Hopefully the coming hiring will change that, but I've only got 16 yrs left. A young person might be able to see a modest return of the wages (never like it was) and some good seniority for a long time.
NO MATTER WHAT I'd never recommend my son spend 200K on a big name school, but rather get experience the old fashioned way and get a degree in something he can fall back on when the bottom falls out again. It will.
My oldest grandson likes to go flying, and I intend to help him at least get his Private. We'll see from there...