He's talking about the fact that since the helicopter is in his name, the onus of making the payments is on him if the school goes under or reneges on the deal.
On the face of it, it looks like an awesome deal. The school I fly with here has done leasebacks in the past where they paid something like $80/hr to the owner, with a guaranteed minimum of some number of hours sufficient to cover most, if not all of the fixed costs.
Of course, it was still the owner's helicopter in reality - he made all the payments. Your deal seems like the opposite end - it's your helicopter in name, but you have to have permission to fly it, etc.
Still, not bad work if you can get it.