As far as corporate and charter being more stable than the airlines, I'd say that's definitely not true. I used to fly charter for a company that had 3 King Airs, 2 Lear 55s, and a Navajo. Shortly after I left, they were down to one King Air 90 and laid everybody off.

I've been flying corporate for the past several years, and I've known many, many people that have lost their corporate jobs through this last downturn. We were VERY close to losing our airplane as well, and our flight department went from four pilots to two.

Although my job is probably safe for awhile, I've decided to head to the airlines and will be starting with a regional next month. My hope is that eventually I can get on with a stable carrier a few years from now, and will have decent pay/stability that can be challenging to find in charter/corporate.

I was also a career changer, and quit my engineering job in 2007 to be a full time CFI. It was a huge paycut, so I made sure I had no debt prior to making the plunge. It's been a heck of a fun ride so far, and I'm still glad I did it. But if I had any debt going into this, I would probably be absolutely miserable. Seriously, if you decide to fly professionally, do not start out with debt. It will take longer, but you will be much better off if you pay cash for your flight training. Also, you need to be willing to move almost anywhere the first few years.