http://www.airlinepilotforums.com/sh...ight=key+loans
Also, check the flight training section and money sections there is another eye-opening thread on loans in there...
Pay as you go is the best deal. Even with a loan - make sure it is pay as you go and not all upfront. Have as much control over the flight training / payments as possible.
Remember - the CFI , FBO, banks, etc... all work for you not the other way around...
-LAFF