It'd be hard to choose a worse path than ERAU. With that kind of debt you can pretty much kiss goodbye any dreams of a comfortable standard of living for the majority of your working life. Read the "Key Alternative Loan & Bankruptcy" thread on the Money Talk board, and the "Embry Riddle: to go or not to go" thread on the Flight Training board.
The consensus of those with actual experience and hindsight is that an aviation school, and ESPECIALLY an aviation degree, is a bad idea. Graduating ERAU with a degree completely useless in the real world, while starting your pilot career not making enough money to pay your $1000-a-month student loan payments, is the worst possible way to get started.
ERAU is not well-ranked, and has low admittance standards. You'll find its real-world reputation is a far cry from what you'd hear from its recruiting establishment. The fact is they promote nonexistent advantages to their stratospherically priced, utterly useless aero sci degree, to their target audience of young kids reading AOPA Flight Training, who wouldn't know any better.
Get your ratings at a local FBO, and earn an in-demand business or engineering degree at a state school.