Yes...University Of petroleum and Energy Studies(UPES) located in dehradun offers such a course..
Lateral Entry - B. Sc. | CAS
I don't know how valuable it is because this industry requires professional courses like AME, flight dispatcher, pilot, ATC , etc.
The price of this correspondence course is also very high( 2 lakh rupees!!!)
if a pilot is medically unfit for some reason in the future, i don't see how this course will be helpful.
i was planning to do the same but am holding off until January 2011 when they will take the next batch to think about it.
A few colleges in Mumbai also offer such a course.
it would be great if someone could shed some more light on this.
besides, the present aviation senario is offering a lot of opportunities( Indigo and Jet).The best use would be to study for them as well.