I did that 2 years ago. Did it for a year. The only reason I stopped doing it that way was because my instructor was just annoyed by having to bank hours and stuff Now I actually work for her and get paid. But that's okay cause I don't pay for lessons anymore. EEK. In my area $475 for 10 lessons is EXPENSIVE at all the barns but mine. Usually its $27.50/per lesson in my area.
Except my barn its $50 a lesson because my instructor is an olympian. Good luck