They way I've always heard it explained to me is that the flight schools that require a deposit up front are using that money to pay last month's bills, and as already mentioned with the financial trouble that we are going through there is a possibility that the company will fold and if so you are out of luck with the money you placed in, other than through legal action as already mentioned and even then you can only expect a fraction back plus legal fees. Basically a ponsi scheme.

10K for the private? What school/airport are you at now?

Also, I would agree with EngineOut on the glass training. Despite what people may try to sell you, you don't need this. You may hear people say that glass time is needed in order to get at job at an airline. This is false. In the past airlines have stated that they like canidates that have glass experience because it lets the company no that this person is trainable on systems, thats all. A few lessons on a G1000 airplane or if you are really cheap (like me) you can find a G1000 sim produced by ASA that does a really good job of simulating the interface. I used it and was able to pretty much jump right into a G1000 skyhawk. As far as I know, there is no set standard for "glass time" so everybody's defintion of this is different - Is time with the Aspen or Garmin retrofit package less/more valuable than G1000 time?

I train at a flight school called Air East but it also operates as a charter company under the name Ventura Air. Its based out of Republic Airport in Farmingdale, New York. They charged me $7,100 up front and I was able to use it all without a problem. It might end up costing more than 10k though because with that $7,100 I've only flown for about 47 hours. How much does a PPL usually cost assuming it took someone 70 hours to receive their license?

New York is a high-cost area, so $7K is probably not unreasonable.

50 Hours Dual x $110 = $5500
20 Hours Solo x $75 = $1500
Ground School = $400
Written = $200
Checkride = $450
Total = $8050

Don't forget the tax.

Skyhigh

When doing career planning, pilots don't consider tax...or incidentals, or co-payments, or interest, or min guarantee, etc, etc

Yea I know, however the devil is in the details.

Skyhigh

I don't have to tell you that it is not cheap, but a lot of people do it. I paid for mine through the GI Bill. Did my four years and Uncle Sam helped me out.

Anyway, I wrote a blog entry: So You Want to Be A Professional Pilot? It Will Cost You! - Almost the Speed of Sound which discusses the hight cost of flying and what you can expect to pay.

The numbers aren't hard numbers. I am sure it various greatly depending on where you do your flight training and how long it takes you will factor into the cost. Plus, consider "living expenses" when you are figuring it out.

Good luck!

rickair777 has hit the nail on the head with his previous posts.
Take your time with training and pay as you go at a local FBO.
I worked construction jobs to save up the money and I flew on the nights and weekends.
It took me longer but I incurred no debt and got all my ratings through to MEI for about $25 000 in 2003 dollars.
I instructed for a long time(post 9/11) but got a free Mei and ATP through the school.
I flew charters in the Caribbean to build up multi-engine PIC time and now I fly air-ambulance.
It can be done if you are not in a hurry, avoid loans like others have said if at all possible.
Remember that there are other flying jobs out there aside from the airlines.
Most important is have fun along the way.
Good luck

Right now I am doing the pay as you go thing at a local FBO. I don't want to even tell you how much I am spending because it's a heck of a lot. The FBO is very close to home and I am very satisfied so far, but the cost is just way too much. I have no complaints however, I am seriously considering to go elsewhere atleast after my Instrument rating. I am not sure how long it would take for me to go up to the CFI level because I log around 1.2-1.5 hours per week. Yes, going slow is a good thing because that way you have plenty of time to study and digest. Considering the PPL course, it takes some getting used to, so going slow at this point seems like a great deal to me. But, I am not sure if I want to go at this rate up until the CFI level. I am not sure how long it would take, it could be 3-5 years. To be honest, I am thinking of a place like Ari-Ben, but like everybody said, it does not make sense at this economy...But I have time, so that is just a thought. If the economy bounced back maybe I will consider. As far as how much it would cost? I think if you could keep it below 50K it would be a great deal. Sad to say that after I started flying, I have completely lost the value for money, so 50K is really not a big deal. All for love eh?

I would seriously look at the military if you want to fly. Either the ROTC detachment at BC or look at the ANG and Reserves. The active duty AF will cost you a 10 year committment, but you are flying some of the most advanced equipment to some crazy places and doing crazy things. I've had a blast. And it hasn't cost me a dime. In fact, the pay and benefits are better then you will have starting out anywhere. I would look into the ANG and Reserves first. But, it is nice to have over 3000 hrs, all paid for, while making a pretty good living. Getting paid to fly upside down in a T-6 in pilot training is alot more fun than doing 60 kts in a C-152! No offense to anyone, just my opinion! I would really look at the military. No debt and good pay....Good Luck.