Dude, think about the reality of this. You are thinking of racking up student loans with little chance of getting a pilot job, when your wife and kid will be needing you the most. Put the flying dream on hold, and finish your degree if you are close to finishing it. Get a desk job and pay for training AFTER paying your bills. There is no way you will get a good, or even decent paying job with little time in your logbook. You can always get back into it later on when you are financially more stable and can manage it.

I submit the following thread as an example of what can happen due to poor money management:

http://www.airlinepilotforums.com/money-talk/4003-key-alternative-loan-bankruptcy.html