I rspect the idea that anyone can choose to lose their money if they want. As I said, the risk is yours to take, however, I personally think anyone who pays big sums upfront to a flying school, knowing that they are about as stable as Barings Bank, does need their head examined.
10 years ago, I might have been tempted, but the bitter experience of people who have lost their money has left it's mark. From youngsters who have scraped together as much as they could and then lost it all, to people having to give up on flying as a career after a commercial school went bye byes taking tens of thousands with it.
If you can deal with people like that on an almost daily basis for 10 years and not get a bit passionate about this subject, then you are one cold individual.
I've never lost a penny in this way, but I've seen a whole heap of flying schools go out of business and the fallout from it.
So you'll forgive me if I don't pay much attention to people who haven't much experience and try to base an argument on limited knowledge.
Of course not every school goes bust and not everyone who puts money "on account" loses it, but the simple fact is that you are trusting your money to people who frankly don't warrant it on many occasions.