Read the full article about financing for international students here >>>
The pursuit of education abroad opens up avenues for personal and professional growth, but the financial challenges associated with it can be daunting. Recognizing this, Aerocadet is delighted to announce its administrative support for students seeking financial aid from their respective banks and financial institutions. Through conditional employment offer letters and training bond contracts, Aerocadet is dedicated to assisting students in navigating the complex landscape of education financing.
For the Indian students who are unable to pay for their flight training program, there is an option to take out a student loan from local bank/s and pay it back later. This system is used by 75% of our students from India.
To facilitate a streamlined student loan application process, we offer a special administrative support package called SLAS (Student Loan Application Support) . This highly comprehensive package will help you solicit a student loan or scholarship from local financial or government institutions in your own country.
With the SLAS package, you will receive the following documents in electronic format for a fee (see current pricing here):
- Aerocadet Official Program Acceptance Letter: This letter will be addressed to you, the applicant, and will confirm your selected flight training program objectives, post-completion internship, and employment placement guarantees (conditional). It will also assess your suitability for flight training and pilot career development based on a multi-stage enrollment assessment conducted by a leading aviation training expert (an active or retired Airline Pilot Captain). The letter will include a QR code for instant online verification of your student status.
- Global Air (BVI) Inc Conditional Employment Offer Letter: Global Air, an international ferry company, will provide an official letter expressing their intent to employ you as a trans-Atlantic ferry pilot, subject to certain conditions, such as the completion of your flight training and internship program with Aerocadet.
- Flight Training and Internship Contract: Raich Aerospace Group LLC / Aerocadet will issue you a flight training and internship contract that outlines the terms and conditions, costs, and conditional internship and employment guarantees.
- Raich Aerospace Group LLC Welcome Letter: This letter serves as a cover sheet for your Flight Training and Internship Contract.
- Electronic Status Verification Student ID: Your official program acceptance letter will include a QR code for instant online verification of your student status. Your student status can be verified by viewing your student ID online on the studentverify.aerocadet.com server directory.
These documents will support your application for a student loan or scholarship from local institutions in your country. They demonstrate your commitment to your flight training program and future career in aviati
Success stories from India
Aerocadet takes pride in sharing the success stories of numerous Indian students who successfully secured student loans with the help of our Special Administrative Support (SLAS) package. Our SLAS package provides a crucial framework, including conditional employment offer letters and training bond contracts, facilitating the approval of student loans. For those interested, Aerocadet is ready to share Indian student reviews and recommendations, providing firsthand insights into the positive impact of our support.
We have decided to include several testimonies form some of our Indian students who used SLAS packages, allowed us to disclose their names and post their reviews on our site:
A lot more is available – email us for more references!
From our experience working with hundreds of students from India, around a vast majority of qualified applicants were able to secure student loans from India using our SLAS paperwork!
So, where to apply for a student loan in India?
There are several options offered by the leading banks in India. These banks are known to accept our SLAS package and full FPAP-IND, FPAP-IND-US, FCPP-IND-US, PA-ATP, PA-ATP-C program contracts to issue student loans. Remember: if one student loan is not sufficient to cover your program cost, you can also approach several banks to take out more than one student loan. Of course, certain restrictions may apply, and we ask that you contact these banks directly to discuss your personal situation.
Top Education Loan Providers in India for Studying Abroad:
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Indian banking sector, SBI stands out for offering educational loans at competitive rates to support students. It caters to both domestic and international students aiming for prestigious institutions. For more details on their educational loans, visit their official site.
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Union Bank of India (UBI): Known for its wide reach across the country, UBI supports students with education loans for a range of courses in recognized institutions both in India and abroad. Information on their education loans can be found here.
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Axis Bank: This private sector bank is ready to support students’ educational journeys with loans starting from Rs 50,000, covering various academic expenses without processing fees for loans under Rs 10 lakhs. For more details, visit Axis Bank Education Loan.
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HDFC Bank: A leading private sector bank, HDFC provides education loans for studying in India or abroad, with a simple process for loan disbursement directly to the educational institutions. Loans up to Rs 20 lakhs are available, with or without collateral. For further information, check their website.
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IDBI Bank: Offers educational loans for students pursuing their studies either domestically or internationally, covering a wide range of expenses. Security requirements vary based on the loan amount. Visit IDBI Bank Education Loan for more details.
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Punjab National Bank (PNB): With a variety of schemes, PNB aims to cater to students pursuing higher education in India and abroad, including vocational and skill development courses. More information can be found on their education loan page.
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ICICI Bank: Offers education loans up to Rs 50 lakhs for studies in India and up to Rs 1 crore for abroad, supporting undergraduate and postgraduate courses. Visit ICICI Bank Education Loans for more information.
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South Indian Bank (SIB): Known for its tailored education loan solutions, SIB supports students studying in India and abroad with a variety of schemes to choose from. Detailed information is available at SIB Education Loan.
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Canara Bank: Offers need-based finance for students, covering a broad spectrum of academic expenses with no margin on loans up to Rs 4 lakhs. For more information, refer to Canara Bank Education Loans.
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Bank of Baroda: Provides financial support for school and higher education in India and abroad, with no margin for loans up to Rs 4 lakhs. Details on their education loan schemes can be found at Bank of Baroda Education Loans.
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Kotak Mahindra Bank: Known for its competitive interest rates, it offers up to Rs 10 lakhs for courses in India and up to Rs 20 lakhs for courses abroad. Visit Kotak Mahindra Bank’s education loan page for more information.
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Federal Bank: Offers up to Rs 10 lakhs for courses within India and up to Rs 20 lakhs for international courses, with an interest rate of 10.05%. More details are available on Federal Bank’s special Vidya loan page.
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Tata Capital: With interest rates starting at 10.99%, it provides loans up to Rs 30 lakhs, including a processing fee that varies. For more, visit Tata Capital’s education loan section.
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Avanse Financial Services: This RBI-regulated NBFC offers flexible education loans with no upper limit, starting from Rs 50k for courses in India. Learn more at Avanse’s official site.
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South Indian Bank: It offers up to Rs 1.5 crores for global education, with interest rates between 10.05% and 10.80%. Check out South Indian Bank’s education loan offerings.
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Corporation Bank (Now Union Bank): Offers competitive interest rates of 8.80% for education loans, with a straightforward process. For more information, visit Union Bank’s education loan page as Corporation Bank has merged with Union Bank.
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Central Bank of India: With an interest rate of 8.50% for education loans, it provides financial support for students in India and abroad. Detailed information can be found at Central Bank of India’s loan index.
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Indian Bank: Offers education loans with an interest rate of 7.15%, supporting students domestically and internationally. Visit Indian Bank’s official website for more details.
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Karnataka Bank LTD: Provides loans with interest rates of 9.85% in India and 9.98% abroad, including a subsidy scheme for eligible students. Learn more at Karnataka Bank’s Vidya Nidhi.
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Oriental Bank of Commerce (Now PNB): Offers competitive rates, up to 7.05% for domestic courses and 10.65% for courses abroad. Since it has merged with PNB, visit Punjab National Bank’s education loan page for current offerings.
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Can I get a full or partial scholarship? Yes, you can.
Unlike academic scholarships for traditional educational programs, there are no widely available “flight training scholarships” for pilot training in North America, Europe, or other developed countries. This distinction arises from the fundamental differences between traditional academic studies and flight training.
Academic scholarships are typically offered by large colleges and universities to a small fraction of their top-performing students. These scholarships are not costly to the academic institutions, as they can accommodate a few additional students at minimal extra expense. For example, a university conducting a lecture class for one hundred paying students can easily admit an extra ten students (10%) to the class without substantial additional cost.
In stark contrast, flight training is highly personalized activity and demands extensive one-on-one flight instruction with each student. It can not be done in a classroom, and the schools can not fit an extra 10% of students inside a 2-seater training aircraft. Flight training involves the use of expensive equipment, such as flight simulators, FTDs, aircraft, fuel, and more. In other words, the nature of flight training necessitates individualized instruction tailored to each student’s unique needs. Thus, aviation schools, colleges, and universities cannot afford to provide free flight training programs on scholarship to either local or international students.
Read our lead consultant’s article from the “Captain’s Journal” for more information about the scholarships.
Ready to start your journey to the prestigious airline pilot career?
Aerocadet’s commitment to empowering students extends beyond flight training, encompassing support for their educational journeys abroad. With administrative support and partnerships with leading financial institutions, Aerocadet is dedicated to making dreams a reality. For detailed information, prospective students are encouraged to contact each bank directly to inquire about their application process and eligibility requirements. The collaborative efforts of students, Aerocadet, and financial institutions pave the way for a brighter educational future.
You can apply for the SLAS package directly on our website here >>>