Sushant,
You have to ask yourself what will you do after one year and 500 hours of BE1900 hours? Do you think you will be more employable in India? I do not think so. Almost all the airlines in India prefer time on type and they don't care if you have 500 hours of BE1900 hours.
So, you have been sitting at home for past 3 years but at least you do not have the $27,000 (plus all the other expenses in the USA) debt and bank breathing on your neck asking for their borrowed money back.
The scheme may have worked for someone in the past, but in your case it will be a complete waste of money.