Good Idea
I believe cutting funding is a good Idea it will eliminate people who just sign up for some thing to do when they finish school and also mean there are less people going for the jobs. But in saying that I would not of became a pilot with out the funding so rather than cutting it, They could make an entry requirement of having a private pilots license, and maybe even completed some CPL subjects. Then when they see you are dedicated then they give you the loan for CPL hour building, flying and Multi engine instrument rating