Flyer,
I went through the exact same decision process about a year ago, that you're going through now. I had actually looked at DCA and FSA, and decided upon DCA. But then a couple things changed my mind. I personally liked FSA better, but the location is horrible. It's in the middle of nowhere. Sure the cost of living is going to be lower, but there is nothing close. I needed somewhere where my wife could get a job to help support us. The job market in Vero Beach isn't very good. Plus, the Orlando economy is in a little better shape. That's why I chose DCA. Until...I visited PanAm in Phoenix. If you don't have problems moving to the west, truthfully, this is the place to be. The price is comparable with DCA, the weather is awesome (no hurricanes), it gets a little hot, but that can be dealt with. The planes are in much better shape also. Another thing is...Delta is going through tough times, and so is Delta Connection no matter what the recruiter will tell you. It all trickles down to the academy.

The economy is great in Phoenix. If you have the ability to buy a house, by the time you finish you'll be able to pay off your student loans with the equity from the house.

If you haven't contacted PanAm, I'd suggest talking to them. My experience has been awesome so far. I definitely think I made the right choice.

Plus, if you're going to go the CFI route. Pan Am is about to have a big shortage of instructors and will be needing every student to become instructors as soon as they can (safely and proficiently). And each instructor is getting at least 3 students full time.