I paid cash after working for 4 years solid with a strict savings regime.
The thought of repaying a loan in the initial years after qualifying when wages are very poor does not bear thinking about. That is why a lot of young pilots are now in dire financial difficulty....and that is if you can get a job!!
OK, I have had my licence for 18 months now and not got my first flying job but at least I do not have the weight of a significant loan repayment to worry about.
Biggles