Wednesday, 19 June 2013

Education loans and Scholarships for Pilot Training in India :

Here's some information on Education loans and Scholarships 
for Pilot Training in India :

If you would like to be a pilot in the Indian Air Force, you can do so by taking the NDA entrance exam after Class XII (Phys & Math). In this case your training is free and you will be paid a decent stipend throughout your three years of training at the National Defence Academy, followed by specialised training at the Air Force Academy. After this, you will be commissioned as a Flying Officer and posted as a pilot at an Air Force Station.

Note: Once you get into the air force, you cannot leave at your own discretion and there are legal tools to prevent IAF pilots from leaving the force. Pilots cannot be released unless they are not required by the IAF and the IAF permits them to leave.


~ The following scholarships are available at and administered through IGRUA, in Rae Bareilly (Uttar Pradesh):

1. Indian Airlines scholarships

Two scholarships of Rs 4,00,000, each given on merit-cum-means basis per batch.

2. Air India scholarships

Two scholarships of Rs 4,00,000, each given on merit-cum-means basis per batch.

3. Rajiv Gandhi Foundation

For two women pilots on merit-cum-means to the extent of Rs 3,00,000 each per batch. 
4. Scholarships for SC/ST candidates

Rs 2,00,000 on training fee. 
Additional Rs 2,00,000 by IGRUA to three SC/ST candidates per batch by selection on merit cum means basis. 
Some state governments award scholarships to SC/ST candidates for training at IGRUA. Eligible candidates may approach the respective State SC/ST Welfare Directorate for the same. 

5. JRD Tata Memorial scholarships

For four students, of an amount not less than Rs 1,00,000 on merit-cum-means basis. The JRD Tata Trust offers up to Rs 10 lakhs per year to trainees as decided by its Board of Directors. 

Vist the IGRUA web site for more details. 

~ The Madras Flying Club offers a government scholarship as well. 

Eligibility: Class X + 10+2; you must also have a Private Pilot License from the Madras Flying Club. 


Madras Flying Club Ltd
Madras Air Port, PO
Madras -- 600 027

~ A government scholarship for pilot training is available for SC/ST candidates who have completed SSC/10+2. 

You may write to: 

The Central Government
M/s Internal Aviation 4-A
Garden Rose, Four Bungalows
Andheri West
Mumbai -- 400 053

Education loans

Traditionally, flying schools admitted students from affluent families. However, the trend is changing now. Flying schools as well as airlines have reported an increase in the number of students from middle-class families. For instance, around 50 per cent of pilots from SpiceJet's new batch are from middle-class families.

Education loans have enabled the dreams of aspiring pilots from middle-class families to take wings.

~ Flying school-airlines tie-ups

Various flying schools have tied up with banks as the cost of pilot training is exorbitant and many interested candidates are from middle-income families. These flying schools also have a tie-up with airlines to provide them with students.

United Aviation, a pilot training school, has tied up with SpiceJet wherein it provides pilots to the airline. 
American School of Aviation has an official tie-up with Kingfisher Airlines.
Aerostar Aviation, a Delhi-based flying school has tied up with Flight Safety Academy of USA to help bridge India's pilot shortage.

~ Bank loans

Pilot training now features in the top three categories of education loans, along with MBA and hotel management.

Around 45 per cent of the educational loans furnished by Centurion Bank of Punjab in a month are for pilot training.
Many other nationalised banks grant educational loans to pursue commercial pilot training courses, the details of which can be obtained directly from such banks. 
For example, State Bank of Bikaner and Jaipur offers a commercial pilot loan, the details of which can be read at this link.  
Corporation Bank also offers and Educational Loans for Commercial Pilot Training both within and outside India.
Other banks which offer student loans are State Bank of India, Canara Bank, Syndicate Bank and Punjab National Bank.

Corp Vidya - Loan to pursue Education : TERMS AND CONDITIONS

1. Eligibility of the Student 

v Student should be an Indian national.

v Should have completed previous qualifying examination.

v Should have secured at least 60% marks [ 55% for student belonging to SC/ST category ] in the previous qualifying examination.

v Should have secured admission to a higher?* Should education course in recognized institutions in India or Abroad through Entrance test / Merit based selection process/through Management quota after completion of HSC [10+2 or equivalent]
v Person already in gainful employment not eligible for loan under the scheme except for pursuing evening course covered under the scheme of approved Institute.

v If a gainfully employed person wants to pursue full time education either on study leave or by resigning from present employment, such proposals may be considered provided the applicant submits the proof in this regard to the sanctioning authority before disbursement of loan.

2. Eligible Courses 

For Studies in India: 

v Approved courses leading to Graduate/Post Graduate Degree, Diploma and PG Diplomas conducted by recognized Colleges/Universities recognized by UGC/Govt/AICTE/AIBMS/ICMR etc..

v Courses like ICWA, CA/integrated CA -on virtual /video mode , CFA,etc..

v Courses conducted by IIMs, IITs, IISc, XLRI, NIFT, NID etc.

v Regular Degree/Diploma courses like Aeronautical, Pilot training, Shipping etc., approved by Director General of Civil Aviation/ Shipping , if the course is pursued in India.

v In case of the Aircraft Maintenance Engineering /Pre Sea training courses must be either a Degree course recognized by a competent University or Diploma course recognized by appropriate State Body to be eligible for loan.

v Research course/Ph.D courses for study in India are not eligible for loan under the scheme.

v Approved Courses offered in India by reputed Foreign Universities.

v Teachers training /Nursing/B.Ed courses provided the training institutions are approved either by Central Govt or by State Govt and such courses should lead to Degree or Diploma course and not to Certificate course.

v Correspondence courses/Part time /Certificate/Short duration /?Vocational / skill development study courses , off-campus courses and On-site/Partnership programme are not eligible for loan under the scheme.

For Studies abroad:

v Graduation: For job oriented Professional/Technical courses offered by reputed Universities .

v Post Graduation: MCA, MBA, MS etc.

v Course conducted by CIMA- London, CPA in USA etc.

v Degree/Diploma courses like aeronautical, pilot training, shipping etc provided these are recognized by competent regulatory bodies in India/Abroad for the purpose of employment in India/Abroad.

v Diploma courses for study abroad is not permitted. However, PG diploma courses for study abroad is permitted.

v Research course/Ph.D courses for study abroad are not eligible for loan under the scheme.

3. Eligible Expenses 

v Fee payable to College./School/Hostel /Examination/ Library/ Laboratory fee.

v Travel expenses/Passage money for studies abroad.

v Caution Deposit, Building Fund/Refundable deposit, though supported by Institution bills/receipts, are not eligible.

v Purchase of books/equipments/instruments/uniforms[Refer –Note]

v Purchase of computer at reasonable cost, if required for completion of the course[Refer –Note] .

v Any other expenses required to complete the course like study tours, project work, thesis etc.[Refer-note]

Note: It is likely that expenditure under the above item may not be available in the schedule of fees and charges prescribed by the college. Therefore, a realistic assessment may be made of the requirement under these heads. However, the maximum expenses may be restricted to 20% of the total tuition fees payable for completion of the course.

v Hostel fees/expenses may be considered as an eligible item for finance under the Scheme. Payment of hostel fees should be made directly to the hostel authorities.

v Reasonable lodging and boarding charges will be considered in case the student chooses/is required to opt for outside/private/paying guest accommodation.

v In such cases, payment towards accommodation and food may be made directly to the student.

v Insurance premium for life of student borrower.

Quantum of Loan 

Studies in India - Maximum upto Rs. 10 lakh
Studies Abroad - Maximum upto Rs. 20 lakh


Upto Rs. 4 lakh - Nil
Above Rs. 4 lakh - Studies in India 5% 
Studies abroad 15%
Margin may be brought–in on year-to-year basis as and when disbursement are made on a pro-rate basis.


v Up to Rs. 4.00 Lakh : Co-obligation of Parent/s, Grand Parent/s ( if parents are deceased). No other security.

v Above Rs. 4.00 Lakh & up to Rs. 7.50 Lakh : Co obligation of Parent/s Grand Parent/s (if parents are deceased) together with collateral in the form of suitable third party guarantee.

v Above Rs. 7.50 Lakh : Co-obligation of Parents/Grand Parents ( if Parents are deceased) together with tangible collateral security along with the assignment of future income of the student for payment of instalments. The loan to be fully secured after maintaining prescribed margin on respective securities.

v In case of married person, co obligant can be either spouse, or the parents or parents -in-law.

6.1 Security- Margin 

v Margin for various type of securities is as under:

Immovable property : 35%
Govt Securities ( face value of NSC/KVP etc..) : 25%
LIC Policy ( Surrender Value) : 10%
Deposits ( Balance outstanding) : 10%

7. Rate of interest 

v Simple interest will be charged during repayment holiday period.

v Note: 1% interest concession is available during repayment holiday period if the interest is serviced as and when debited, but not later than 30 days of debit. In the event of intermittent default, concession will be extended for the period of regular interest servicing.

The aggregate concession that may be extended are as below : 
SC/ST Category

Maximum Interest 
Concession Permitted

Physically challenged Men
Physically challenged Women
Other Than SC/ST Category


Physically challenged Men


Physically challenged Women


8. Processing Charges 

v No Processing Charges for studies in India
v Rs. 2000/- only for studies abroad to be refunded once the loan is availed
Note : The charges are exclusive of applicable service tax

9. Prepayment Charges - NIL 

10. Repayment 

For loans upto Rs.7.5 lakhs : 10 years - Fixed
For loans above Rs.7.5 lakhs : 15 years -Fixed
[fixing repayment tenor lower than prescribed above is not permitted]

Since prepayment penalty is not applicable under the scheme, borrower may prepay the loan at any time during the currency of the loan.

The loan has to be repaid within a period of 10 /15 years after completion of initial repayment holiday.

Repayment holiday is the course period + 1 year OR 6 months after getting the job whichever is earlier.

11. Other Guidelines 

v Loan should be availed preferably from the Bank/ Branch situated near to the place of domicile of the parents.

v Take over of loan from other banks is strictly not permitted.

v Second loan may be considered for higher study in India or Abroad. In such case repayment period/holiday period of the existing loan may be extended.

v Reimbursement of fees only for the first year of the course is permitted only for Studies in India.

v Student may be covered under Bank's Corp Suraksha Insurance scheme, at his/her option.

v The loan to be disbursed in stages as per the requirement/demand directly to the Institutions/Vendors of equipments/instruments to the extent possible.

The next way is to participate in the “All India Pilot Challenge ” scholarship exam and earn a scholarship!

The Indian aviation industry has lead the global industrial growth in recent years, leading to a significant increase in the number of pilots being employed. Despite this, there is still a huge lack of awareness among students on the scope of career opportunities as a Pilot. It is important this awareness is brought among students ready to make one of the most important decisions of their life. Their career! 

This examination is conducted once a year between the summer months of April and June.

Aspiring student pilots across the nation graduating this academic year are invited to participate in this scholarship competition.

Participating students will be sent a series of information emails on the following:

Career opportunities as a pilot
Requirements and training involved in becoming a pilot
Competition details
This will be followed by a written aptitude test in four major cities across the country following the end of the 12th standard exams. The top 200 participants of this exam will be invited for an interview and pilot aptitude test on our flight simulator at Delta Flight School, Chennai. The top 120 students from this selection process will be offered appropriate scholarship awards in a dedicated award ceremony to be held at Chennai. 

The topper who cleafs all the stages of the competition will be sponsored a Commercial Pilot License, worth Rs. 25 Lakh. The top 120 students in the selection process will be awarded other scholarships. 
Please see terms and conditions for additional information.  


 Registration of the candidate for the examination is not guaranteed, if any of the columns in the form is not filled in. Candidates should not send more than one application, at a time, for the examination. Examination Fee : Rs.1000/- 
Mode of Payment : Demand Draft / Cash.

DD for Chennai Exam Centre : The Demand Draft should be in favor of “Flight Point Aviation Private Limited” payable at Chennai. Fee paid is non refundable.Mailing Address : 24, 3rd Cross Street, Bakkiyathammal Nagar, Padi, Chennai - 600 050.

Candidates are advised to arrive at the examination centre 15 minutes ahead of the examination. Candidates will not be admitted to the examination hall after the commencement of the examination. Candidates must sit at the designated seats. 
Before entering the examination room all candidates must show a valid official photo identity such as, passport, student identity card, driving license, voter’s identity card and hall ticket so that names and personal data can be checked against the registration list for the examination. Those who fail to produce such identification will not be allowed to sit for the examination. Each candidate’s Identity must be verified beyond doubt. During the examination the photo identity must be placed on the candidate’s desk in such a way that the invigilator can inspect it. The invigilator will ascertain that the personal data on the answer sheet matches the data on the identity.

Candidates are not allowed to bring dictionaries and technical devices for storage and transmission of information including electronic calendars, mobile phones, pagers, calculators, scan pens, cameras and other electronic devices inside the examination hall. Candidates are required to bring their own pen / pencils / erasers / sharpners. Only the following items may be placed on the candidates’ desks: hall tickets, Identity proof, examination booklets, pencils, pens, erasers, sharpners. All personal and study items must be placed at the designated areas during the examination. Drinking, eating or smoking during the examination is not permitted. Candidates must observe strict silence, remain seated at all times and raise hands if assistance is required. Should an emergency alarm be raised during the examination, candidates should await and adhere to further instructions from the invigilator.

Candidates are not allowed to remove any stationery supplied by Delta Flight School from the examination hall. All examination and study materials both electronic and non-electronic medium remain property of Delta Flight School. They are protected by copyright. Under no circumstances may candidates remove complete examination booklets or parts of examination Booklets from the examination hall. It is expressly prohibited to copy, publish, exhibit, quote, transmit, show or store any texts, images, sound recordings or digital recordings of examination material including question paper. All question papers must be checked immediately upon receipt and return as to the accuracy and completeness.Only one candidate at a time will be allowed to leave the room. Candidates who finish their examination early and leave may not re-enter the examination hall.

If a candidate is absent on their designated examination schedule, the examination fees cannot be reimbursed, waived or carried over to a future examination date. If the candidate seeks to appear on a future date for this examination, a new application form and examination fee needs to be submitted.

Invigilators reserve the right to confiscate items deemed prohibited during the examination. Delta Flight School will not be liable for any personal injury to the candidate or loss, theft or damage of personal property of the candidate during the examination or while in the examination centre. All examination results are determined at Delta Flight School according to standardized procedures. Decisions made by Delta Flight School management is final. An appeal cannot be made for the re-evaluation or assessment of examination. No legal action can be taken in disputes in which claims are raised against Delta Flight School as to annulment, revision or the issue of examination results. A candidate is only eligible to take the scholarship examination once. Re-examination is not allowed.

Candidates who cheat or attempt to cheat, who use unauthorized aids or allow others to use them, will be excluded from the examination immediately. In this case, there will be no assessment or rating of the performance. The decision to exclude candidates will be made by the invigilator. This decision cannot be appealed or challenged. If evidence that cheating has occurred is found only after the conclusion of the examination, Delta Flight School will declare the respective examination invalid.

The candidate who have been declared guilty of the following will be summarily rejected:
Obtaining support for his candidature by any means; or Impersonating; or Procuring impersonation by the person; or Submitting fabricated documents or documents which have been tampered; or Making statement which are incorrect or false suppressing material information; or Resorting to any other irregular or improper means in connection with his/her candidature for the examination; or Using unfair means during the examination; or Writing irrelevant or obscene language in the script or misbehaving in any other manner in the examination hall or harassing or doing bodily harm to anyone.

Qualifying marks and rank to qualify for scholarship :

Minimum pass percentage in all aviation examinations under the International Civil Aviation Organization (ICAO) is 70%.

Delta Flight School will follow the ICAO standard for pass percentage.

All India First Place : 100% Full Free Scholarship: To qualify for this scholarship the minimum percentage in the written examination is 95%

Category 1 : $7000 scholarship : To qualify for this scholarship the minimum percentage in the written examination is 80%

Category 2 : $5000 scholarship : To qualify for this scholarship the minimum percentage in the written examination is 75%

Category 3 : $3000 scholarship : To qualify for this scholarship the minimum percentage in the written examination is 70%

If there is more than one candidate achieving the minimum percentage in each category of scholarship, the award of scholarship will be based on ranking.
There are 40 scholarships in each category with a total of 120 scholarships.
The top 200 ranking candidates in the written examination will be invited for a Personal interview and Simulator check. These candidates must bring with them the DGCA Class II medical certificate, 12th standard or equivalent certificates and a valid official photo identity such as, passport, student identity card, driving license, voter’s identity card. Following the interview and simulator check the top 120 candidates will be awarded the scholarships.

If a scholarship is awarded, the enrollment should be done within 4 weeks from the date of result announcement. If an enrolment is not received within this prescribed time period, the scholarship is null and void. Please see admission procedure on the FAQ page of our website for enrollment procedure.

Examination Centre:

The examination is conducted only at Chennai centre.


Surbhi Maheshwari [MBA Fin / Mktg ] 
Manager Finance
On Line Assistence :


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