First I would like to say thank you to everyone who commented! I loved the long back and forth discussion about what rank means and how one should achieve it. Very good reading.
As far as my situation, I'll continue to go as per advice given here. It's true I cannot control how often they give out black belts to kids and even if I don't agree with that practice, it doesn't mean the school isn't a good one. I defiantly think children should be given a grey belt or some other color for their higher ranks before they reach adulthood so they can test for black belts.
I guess since I'm new to the school and to martial arts in general and I came into the school with a newbie ignorance I had thought black belt means YEARS of training and you must be pretty darn good to achieve that. So seeing the children black belts was just off putting to me. I feel like schools giving children black belts is really just a confusing thing for new students to see. I understand them needing money, and by giving children these high ranking belts means more money coming in. I just think for adults like me its gives us the wrong impression. (sigh) like others said its up to the school as to how they do ranks. I know that when I get me yellow belt and higher I will have earned it with hard work and tanning!
Like I said, my teacher is good, you can tell he cares about his school and loves teaching. I defiantly learn allot and love going! I love how I get to learn both Teakwondo and Hapkido together! I choose Hapkido for the piratically in a real fight situation but I love the kicks of the other.
Thanks everyone! Next I'll have to ask a question about my exercise regime for tanning.