https://www.wemakescholars.com/education-loan/pilot-training
Education Loan for Pilot Training
✓ Avail a loan of up to 2 Cr
✓ With an interest rate starting at 9.50%
Table of content
- Education Loan For CPL Training in India
- Pilot Training Institutes in India
- Requirements For Pilot Training in India
- Education Loan For Pilot Training in Abroad
- Pilot Training Institutes in Abroad
- Requirements For Pilot Training Abroad
- Pilot Training Fees in India and Abroad
- How To Apply For An Education Loan for Pilot Training Through WeMakeScholars?
- Documents Required for Education Loan for Pilot training
- Benefits of WeMakeScholars
- Scholarships To Pursue Pilot Training in India and Abroad
- FAQ's
- Need Help? Ask Here!
Attention all future pilots, are you ready to soar the skies but grounded by the hefty training fees? Don't worry, education loans for pilot training in India and abroad can help you escape the financial turbulence.
There are many public and private banks and NBFCs in India providing education loans for pilot training to Indian students, they offer an amount of up to Rs 2 Cr at interest rates starting from as low as 9.50% as education loans for pilot training. However, the loan amount and rate of interest depend on the country, the co-applicant's income, and other loan parameters of the applicant's profile.
The loan amount can be used to cover the costs associated with obtaining a pilot's license, including flight training fees, examination fees, and other course-related expenses.
Education Loan For CPL Training in India
If you're an aspiring pilot in India, you might face a daunting task of paying for pilot training. The average cost of obtaining a commercial pilot licensecommercial pilot's license can range from 35 to 40 lakh rupees from DGCA accredited flight training school. But with an education loan for commercial pilot training in India, you can take flight toward your dreams without the weight of financial stress.
Over 90% of aspiring pilots in India rely on education loans to fund their training. With the increasing demand for pilots globally, now is the perfect time to take advantage of this financial option. Pilot training loans make it easier for you to chase your dream of flying. You can borrow up to 1.5 Crore rupees. They let you pay back in a way that works for you, helping you succeed in becoming a pilot.
Loan Parameters |
Details |
Loan Limit |
Loan amount upto Rs 1.5 Cr |
Expenses Covered |
|
Accepted Co-applicant |
Parents-in-law, Parents, Spouse, Siblings |
Interest rates on education loan for pilot training in India |
Starts from 9.50% |
Moratorium Period |
Course timeline + 12 months |
Repayment Duration |
Can be extended maximum upto 15 years |
Eligibility Criteria |
Student should secure admission in any DGCA recognised pilot training institute in India |
Acceptable Collaterals |
|
Loan Margin |
5% to 15% of the loan amount (depending on the loan amount and collateral provided) |
Pilot Training Institutes in India
Top 10 Aviation colleges in India | Fee structure |
Adventure Flight Education Private Limited, Bangalore | INR 32.8 lakhs |
Indira Gandhi Rashtriya Uran Akademi (IGRUA) | INR 45 lakhs |
Madhya Pradesh Flying Club (MPFC) | INR 35.4 lakhs |
National Flying Training Institute (NFTI) | INR 36.4 lakhs |
Ahmedabad Aviation & Aeronautics Ltd. (AAA) | INR 23.3 lakhs |
Bombay Flying Club | INR 36.9 lakhs |
Rajiv Gandhi Aviation Academy | INR 20 lakhs |
Government Flying Training School | INR 25 to 35 lakhs |
OFAA – Orient Flights Aviation Academy | INR 38.5 lakhs |
Indian Aviation Academy | INR 15 to 20 lakhs |
Requirements For Pilot Training in India
To pursue pilot training in India, the following prerequisites are necessary:
- Age: Aspiring pilots must be at least 17 years old to start training and obtain a student pilot license, and at least 21 years old to obtain a commercial pilot license.
- Physical and Medical Fitness: Pilots must meet the minimum medical standards set by the Directorate General of Civil Aviation (DGCA), including good eyesight, hearing, and physical health.
- Education: To pursue pilot training in India, aspiring pilots must have completed Class XII in any stream with English as one of the subjects along with Maths and Physics.
- English Proficiency: Pilots must be able to speak, read, and write English fluently, as all aviation communications are conducted in English.
- Financial Resources: Obtaining a pilot's license is an expensive process, and aspiring pilots must have the financial resources to cover the costs of flight training, exams, and other associated expenses.
- Passion and Dedication: Becoming a pilot requires a great deal of time, effort, and dedication, and aspiring pilots must have a genuine passion for aviation and a commitment to pursuing their dream.
Pursuing pilot training in India requires a combination of physical and mental preparation, education, financial resources, and a strong passion for aviation. Aspiring pilots must carefully consider these prerequisites before embarking on this journey.
Education Loan For Pilot Training in Abroad
The average cost of pilot training abroad in countries like the USA, the UK, Canada, Australia can range from Rs 40 lacs to Rs 80 lacs, but with education loans, aspiring pilots can access loan amounts up to Rs 1.5 Cr to cover their training costs. With flexible repayment options, loan disbursal directly to the training academy, and the ability to study at top aviation schools around the world, education loans for pilot training abroad are a smart financial option for aspiring pilots.
So, if you're ready to take flight and explore the world from a bird's eye view, join us as we delve into the details of education loans for pilot training abroad.
Loan Parameters |
Details |
Loan Limit |
Loans offered up to 1.5 cr |
Expenses covered |
|
Accepted co-applicant |
Parents, Parents in law, Siblings, Spouse |
Interest rates on education loan for pilot training in abroad |
Starts from 10.90% |
Moratorium Period |
Duration of course + 12 months |
Repayment Duration |
15 years after a 12-month moratorium. |
Eligibility Criteria |
Indian national students only. |
Collateral Requirements |
|
Loan Margin |
Down payment of 5% to 15% of loan amount required (depending on the loan amount and collateral provided) |
Pilot Training Institutes in Abroad
Top 10 Aviation colleges Abroad | Country | Fee structure |
Aerosim Flight Academy | USA | INR 49.96L to 74.94L |
CTC Aviation | UK | INR 63.14L to 84.18L |
Singapore Flying College | Singapore | INR 43.76L to 93.77L |
Olympus Aviation Academy | Europe | INR 45.1L to 90.18L |
Ardmore Flying School | New Zealand | INR 31L |
Western Michigan University Aviation College | USA | INR 7L to 18L |
Ohio State University Aviation College | USA | INR 30L to 34L |
Oxford Aviation Academy | UK | INR 19.5L to 20L |
University of New South Wales Aviation | Australia | INR 29.30L |
United States Air Force Academy | USA | No monetary cost. However, you will be required to serve in the U.S. Air Force or Space Force for a specific period of time. |
Take a look at the top five job roles and the countries known for offering the highest salaries in respective Aviation fields:
Job role | Country | Average Salary offered/year |
Airline Pilot | USA | INR 86.04L |
Aircraft Maintenance Engineer | Canada | INR 46.53L |
Aviation Manager | UK | INR 40.40L |
Air Traffic Controller | Australia | INR 98.66L |
Aerospace Engineer | France | INR 35.91L |
Requirements For Pilot Training Abroad
To become a pilot you will have to complete your pilot training and by any chance if you’re planning to pursue your pilot training course in abroad, then here are a few prerequisites:
- Maintain good physical and mental health
- Be thorough in your subject knowledge specially, mathematics, physics and english
- Arrange sufficient funding to pursue pilot training, uninterruptedly
- Do a deep research and list down your preferred pilot training institutes in abroad
- Clear the entrance exam and medical criterias to get admission in pilot training institute in abroad
- Clear applicable theoretical training papers
- Complete the practical training including minimum flying hours
Pilot Training Fees in India and Abroad
The cost of pursuing pilot training in India is approximately Rs 40 to Rs 50 lacs on an average basis, while from abroad it is around Rs 70 to Rs 80 lacs. The amount is hefty enough because of which a few students might think of dropping their plan of pursuing pilot training.
But, WeMakeScholars is here to help you get student loans of up to Rs 1.5 Cr or even more as per your requirement, so that bright and ambitious students do not have to compromise on their studies because of lack of funds.
WeMakeScholars is a fintech start-up funded and supported by the government of India under the Digital India Campaign run by the Ministry of Electronics and Information Technology. Our aim is to provide fundings solutions by means of education loans and scholarships to study in India or abroad, because we are partnered with 14+ public and private banks in India.
How To Apply For An Education Loan for Pilot Training Through WeMakeScholars?
To apply for an education loan from WeMakeScholars, follow the below steps:
- Step 1: Fill out the eligibility check form or request a callback from the financial officer at WeMakeScholars
- Step 2: Provide information about your loan application as asked by the financial officer
- Step 3: Know your possible lender options after your loan profile is analyzed by your financial officer
- Step 4: Choose your lender and arrange your documents as per the documents checklist provided by your financial officer.
- Step 5: Collect your loan sanction documents from your lender within no time after submitting your documents to the bank or uploading them on the WeMakeScholars document portal.
Note: If you choose a private bank or NBFC to be your lender, your loan will be sanctioned within 2-4 days otherwise, it will take 15-20 days to complete the collateral formalities and process your secured loan from public banks.
Documents Required for Education Loan for Pilot training
Education loans for pilot training can be availed from different public and private banks or financial institutions in India. Some of the commonly required documents are:
- Application form and education loan form filled out through the lender's platform
- KYC details of the applicant and co-applicant/guarantor
- Proof of identity like PAN card or passport
- Address proof like Aadhar card, passport, electricity bill, etc.
- Bank account statement or salary slips for last 6 months
- Proof of admission in pilot training course
- Proof of assets and liabilities
- Income documents for co-applicant like Form 16, salary slips, income tax returns, etc.
- Other documents like affidavit, declaration, previous loan statements, etc.
- Collateral documents, if required
Note: Requirements may vary between banks, so it's advisable to check with the lender for the complete list of required documents.
Benefits of WeMakeScholars
WeMakeScholars is a government-supported student platform that provides funding options for higher education in India and abroad. It partners with over 14 banks and financial firms to offer students the best possible loan options. The following are some of the benefits of choosing WeMakeScholars for your education loan:
- Loan Negotiation Assistance: WeMakeScholars offers support in negotiating loan terms and interest rates with banks.
- Competitive Interest Rates: Due to its large size, WeMakeScholars offers interest rate discounts of 0.5-2% for loan applicants.
- Tax Benefits: WeMakeScholars helps students take advantage of tax savings programs and TDS to save money on their loans.
- Expert Guidance: A financial officer will assist students in choosing the best lender based on their eligibility and bank rules.
- Faster Processing: WeMakeScholars processes loans 50% faster than traditional bank processes. Private bank loans can be completed within 6-7 days, while public bank loans with collateral take 15-20 days.
- Convenient Application: Students can easily apply online and submit documents online, eliminating the need for multiple visits to the bank.
- Full Support: A financial officer will provide support throughout the loan process and address any post-approval concerns.
- Cashback Offer: Upon loan release, students may receive a cashback of up to Rs 3,000.
- Free Services: All services for prime loans are free for students as WeMakeScholars is funded by the IT Mini
Scholarships To Pursue Pilot Training in India and Abroad
The cost of pursuing pilot training in India and abroad, both are high but it becomes affordable for students if they secure scholarships to fund their studies. WeMakeScholars Scholarship Portal has a long list of scholarships offered by various colleges and universities in India and abroad. Students can choose according to their eligibility and apply for the best scholarships from there directly.
A few of the scholarships for pilot training study program are listed below:
- Education Future International Scholarship
- HEST 2024- Higher Education Scholarship Test For Indian Students
- John M. Azarian Memorial Armenian Youth Scholarship
- Asian Development Bank-Japan Scholarship Program (ADB-JSP)
- Global Citizen Scholarship
- Royal Business Bank Scholarship Program
- Thomas Wall Trust Grants For Individuals 2024
- Fulbright Foreign Student Program In USA 2024
- J. N. Tata Endowment Loan Scholarship 2024
- Ambedkar Overseas Vidya Nidhi Scholarships For SC Students 2024
- Aga Khan Foundation’s International Scholarship Programme (ISP) 2024
FAQs:
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