I am not too sure if the names are released yet. It was my old instructor from when I was a student that punched out. As for the students, if you have some buds in C flight then you might want to call down to see if they are OK. Yeah, the navy solo guy was a crappy situation. As was the similar situation in the dual crew final turn crash at Laughlin in January. About 1.5 years ago we had a fatal T38 midair that I was pretty extensively involved with (I was SARCAP, life support officer for the interim safety board, and the students were from my flight - the one who survived was my assigned student, the other sat right next to my desk). It sucks with any fatality but you have to compartmentalize and move on because a short time from now you may be in a squadron that has a bad day in combat and you really MUST move on in that situation to keep fighting.
As far as what happens to the students and IPs....for the students not too much happens. If the student is really THAT bad then they are already gone or on their way out already just due to the nature of pilot training. The overall responsibility is on the pilot in command and that is the instructor. That is why there is a safety investigation board (SIB). They study the crash to figure out what went wrong - there are ALWAYS human errors that contribute to all or part of the situation. There is also what is called an accident investigation board (AIB). The SIB is for safety so all information is priviliged and CANNOT be used against you. The AIB is to find out if anyone is at fault. They do their own investigation and are not allowed to get information from the SIB. Here is where the lawyers may have to step in. If a rated pilot is found at fault then anything can happen from not too much trouble for a situation that even though errors were made was still pretty unavoidable, to taking a pilot's wings away for lack of judgement/airmanship, to jail time for gross negligence (look up the situation going on right now about the Springfield ANG F16 guys who deliberately disobeyed orders not to fire and ended up killing a bunch of Canadian troops).
It is pilots who are running these boards and making recommendations so it is not like it is people who do not understand how difficult it can be up there....so that is good for a mishap pilot but the pilot community is not one that is very tolerant of sloppiness or even the slightest hint of inaptitude so that keeps the safety boards honest.
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