Panamguy has it right. As long as you are at Pan Am, you do not have to pay back your loan. Loan payments begin 6 months after you leave Pan Am, for whatever reason. Be it for an airline job, or back to where ever it is you came from. the interest on your loan is accumulating from the day the money showed up on your account at Pan Am.
I don't know how a CFI can survive paying back a loan of $500-$600 a month, and still have enough money to pay for rent, phone, electricity, gas and insurance for the car, and oh yeah, you have to eat too. So the defered payment option is a good thing, at least for the short term.
If you have the income to pay your loan while you are in training, then by all means, pay it off, you'll save thousands in interest. But who has that kind of income while in full time training? Once I am done at Pan Am, I am going to try and refinance my loan, at a lower rate, and/or for a longer term, to reduce that monthly burden. That will help in the initial "lean" years in the airlines where FO pay isn't much better than a CFI's.
The Turk.