I am also about to graduate with a degree in mechanical engineering, and I do not want to go into engineering, I want to fly, and am heavily considering ATP, the nicest perk seems to be their COEs, conditional offers with Republic, Eagle and Skywest, and apparently you can have employment offers with multiple airlines before you even have your commercial. Sounds crazy but apparently there are many pilots there with those deals. As for the price, I know its steep but for the amount of multi time you get when you begin instructing it seems reasonable. Most ATP guys I have talked to move on with 600+ hours of multi at 1500 TT. So I don't know how expensive that would be at a "mom and pop" flight school. May be cheaper to get your commercial and 250 hours and your CFI certs, but do they give you a guaranteed job, or possibly a COE at some reputable regionals, and over 600+ multi hours? Maybe I am brainwashed by ATP but I am just trying to get into aviation quick.