HOW TO FINANCE YOUR PILOT TRAINING..??

For many aspiring commercial airline pilots, the greatest barrier to becoming a pilot is securing the funding for pilot training. At NARAIN AVIATION, we are committed to ever-widening access to pilot training and a flying career for those who demonstrate the talent, passion, and motivation to become a pilot.   Let’s face it, paying for flight/ pilot training is very ritzy and upmarket, but no matter where you are from, your dreams are valid. Gone are the days when only one from an affluent and lavish family could dream to become a pilot. Now the world wants to see the instinctive dexterity inside you and not the greenbacks inside your pocket. If you truly believe in the power of your dreams, you can accomplish something that you love passionately, by finding or making your own pathway to success.   Unfortunately, the overhead to learn flying with any pilot training institutes has been the biggest obstacle in becoming a commercial airline pilot. Unless you have a trust fund from your rich dad, the costs to become commercial pilots can seem to be an impassable mountain. But when you are investing in an education and skills that can literally take you anywhere you want to go in life, the sky is the limit for you. While a pilot earns an attractive salary during the course of his career, but the training expenses of a pilot range from 40-50 lakhs.     Let’s learn how people with dreams of making a career in aviation can find their way to pay for flight school.
  • One can look for educational loans from the trusted sources.
  • Ample Nationalized Banks do furnish the student loans for commercial pilot training such as State Bank of India, Canara Bank, Corporation Bank and Punjab National Bank, ICICI, HDFC, and many other private banks at an attractive rate of interests.
  • One can opt for a private loan from an NBFC’S, credit union, person-to-person lender a loan secured typically against a property.
  • Help from your family
Receiving financial help from family members whether it be parents or grandparents, is another common solution to funding your pilot training.  While it can be a big ask from your parents, it is a valuable investment into your future career as a pilot.   Not forgetting the incredible benefits and the future that lies ahead of you as a pilot, from an attractive salary, having an office above the clouds to making life-long friendships around the globe.   Once you have completed your pilot training and obtained your CPL, you can begin earning as soon as you qualify. The starting salary for newly qualified First Officers is typically above the average starting salary for a University graduate. You can expect to earn anywhere between 2-2.5 lakhs per month depending on the Airline.   General eligibility criteria of the banks:
  1. One must be an Indian national
  2. One must be aged between 16-35 years
  3. The flying school opted by the student must be approved by DGCA in India or any equivalent approving body abroad.
  Expenses covered under the loan:
  • Fee payable to College/ School/ Hostel
  • Exam/ Library /Lab fees
  • Caution deposit / Refundable deposit asked by the institution
  • Purchase of Books/ equipment’s/ instrument/ uniforms
  • Travel expenses/ passage money for studies abroad
  • Purchase of computers – essential for completion of the course
  • Any other expense required
  To make a long story short, chances are, you may need a combination of the resources listed above for your flight/ pilot training financing. The bottom line is that if you really, really want to learn to fly, you’ll do whatever it takes to earn your wings. And that’s a good thing because nothing is sweeter than achieving your lofty aviation goals. So, go out there and make it happen!