Grass Strip Basher
Everyone agrees that the level of financial committment to become a trained pilot after 9/11 are huge, but this is the reality of the current economic climate. The wages for newly qualified commercial jet pilots are nearly double those of new general graduates. So it's not all doom and gloom on the financial front.
Also even if a fresh 20 year old does not understand the implications of a large loan, the banks won't give one to him anyway. It will need to be secured by some equity, either on a house or other items of value. So those doing the signing will sure look into it in detail. Usually generous parents.