Its not as such funding for pilot training.
Its just they have cobbled together something which gets the under the umbrella of a University and then gives access to national student loans system. The means tested grants are pretty much common with all University's, your family really needs to be renting accommodation and both parents earning less than 16k combined before you will get a look in.
But what it doesn't tell you is that there will also be University fee's on top of the training fees. Currently they are about 7k per year and a normal degree in England is 3 years long. Which is at least 1 year longer than normal for a cadet scheme.
I would be surprised if this changes anything for the majority of wannabies.