FatFlyer,
Another option is to pay up front by credit card. That way you can enjoy the discount and if they go bust you can get money back.
If your credit limit is not high enough to pay the course, you can over pay your credit card so you have a credit. This will give you a higher credit limit.
Before you even get to this point you should check into the school you are thinking of attending. Things you need to know:
1) Are they in good standing with their bank and their vendors?
2) Is the school growing or shrinking?
3) What is the school's trend for student enrollment (increasing or decreasing over the last few years)?
4) What is the condition of their equipment (when schools have financial problems aircraft maintenance is one of the first things to suffer)?
These checks will increase your odds of completing the training at the school of your choice without them going bust.
Happy Flying,
Capt. Richard J. Gentil, Pres.
Naples Air Center, Inc.