Gregg,
Financial matters are very important and are definetly a huge part of the decision making process. As far as loans are concerned it really would be best to discuss this with the admissions counselors at ATP, they are really better suited to answer these questions factually than I am, I would be guessing. I can tell you that I financed 100% of my training, which was $40,000 at the time (I already had a private license) over 15 years, which results in a monthly payment of about $350. Of course things have changed since then. Please call them, they will be able to answer all of these questions.
Salary is definetly something I can address though. The pay rates for ATP instructors can be found at:
http://www.atpflightschool.com/jobs/index.html It works out to about $2,400 per month, or $28,800 per year. At ATP, and just about every other flight school, you are an independent contractor, so you will have to pay your own Social Security and taxes out of this, but at $28,800 per year that shouldn't be too much. Instructors rarely make more than this, most make less. Your pay as an instructor will not really go up much, as it is seen as a "stepping stone" job to the airlines.
My first year at ExpressJet I think I made $24,000, as an employee. My second year I made $38,000 if I recall correctly. Of course we had full benefits at XJT. First year pay at an airline is always low, and Continental was no exception, I made $30,000. This year I am on track to make $74,000. The benefits at CAL are pretty good and of course my family and I get to travel for free, which definetly has some worth to it.
A good way to determine what a pilot makes per year is to take the hourly rate and multiply it by either 75 or 80. For example, I make $65 per hour, times 80 is $5200 per month. I tend to work about 93 hours per month, but that is above average. I hope that explanation helps. What else can I answer for you?
Chris