A few factoids from a Riddle grad student (yes, I'm a pilot):
1. Last I heard there is a waiting list to get in to the aerospace engineering program, so let's just say that it is "selective". I know a guy in my apt complex who moved from Ohio and who is on the waiting list. He's taking classes and keeping his fingers crossed.
2. Consider that ERAU has been the ONLY civilian entity chosen to train future Air Force pilots. So that basically means ERAU is doing something right. Check it out here:
http://www.erau.edu/er/newsmedia/new.../airforce.html
3. Yeah, it's expensive at Humpty Diddle. Ever heard of elasticity of demand? Here's a study done by my ECON prof that "may have caused" tuition to be raised at Riddle:
http://www.springerlink.com/content/d3253h5472w6719x/
4. If you want to skirt your student loan payments while you make near to nothing at the regional airlines, simply maintain part-time enrollment in an online class or two at a local junior college. Check your loan terms. Even the private loans that fund much of the flight training give you what's called "In-School Forbearance" if you maintain at least half-time enrollment (i.e. 6 credit hours...who cares if you get a C- if it waives the loans and allows you to pay what you can afford for the time being).
5. Try to get into ROTC. TRY. I couldn't because of asthma. If ROTC doesn't work for ya, there's Navy or Air Force Officer Candidate School after you get your BS degree. Here are their respective websites:
http://www.nsgreatlakes.navy.mil/otcp/ and
http://www.afoats.af.mil/OTS/index.asp
6. I agree with those who say go to an FBO and get your training. Keep in mind that a $40,000 private loan through Sallie Mae with 10% interest = $500/mo, 15 yrs.
7. Try to lower your living expenses when you become a regional pilot. There are these things called "crash pads" that run about $250/mo all inclusive. They are 3 bedroom apts, townhouses, etc and I know many a United pilot and flight attendant that do this. I'm pretty sure it exists for each airline.
8. What's the point of all this? You'd be amazed at how many options are out there to a) not default on your loans and b) keep your head above water and still enjoy life. Remember...flying is supposed to be FUN. If it's your passion...do it. Just make sure that you a) get a baccalaureate degree in something OTHER than aviation just in case the day comes when the doc says, "Sorry, I can't pass you for a 1st class medical." Do have a plan and, as always, CYA (i.e. cover your ass).
Have a ducky day...
