Who Backs The Financing For The Swift Sponsored Student Training? Is This A Federal Student Loan?

Topic 18783 | Page 1

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JM's Comment
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I will be attending TDA1 in Fontana under the Swift Sponsored Student CDL A program. I am concerned about how a "student loan" is established. The Student Loan Department is closed right now. Maybe someone on here can answer that question. Is Swift taking out a Federal Student Loan on my behalf and calling it "company sponsored"? Is this a FAFSA type of student loan? Is this purely a private loan financed by Swift and they referred to the loan as a "student loan"? This is actually really important to me and I need to know how they finance the loan. If anyone has any information regarding my questions, I greatly appreciate your assistance.

CDL:

Commercial Driver's License (CDL)

A CDL is required to drive any of the following vehicles:

  • Any combination of vehicles with a gross combined weight rating (GCWR) of 26,001 or more pounds, providing the gross vehicle weight rating (GVWR) of the vehicle being towed is in excess of 10,000 pounds.
  • Any single vehicle with a GVWR of 26,001 or more pounds, or any such vehicle towing another not in excess of 10,000 pounds.
  • Any vehicle, regardless of size, designed to transport 16 or more persons, including the driver.
  • Any vehicle required by federal regulations to be placarded while transporting hazardous materials.
Errol V.'s Comment
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I believe Swift is self-financed. I signed their tuition contract, which did not involve any Student Loan type paperwork.
JM's Comment
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I believe Swift is self-financed. I signed their tuition contract, which did not involve any Student Loan type paperwork.

Thank you! Big help and a weight lifted off my shoulders.

G-Town's Comment
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I believe Swift is self-financed. I signed their tuition contract, which did not involve any Student Loan type paperwork.

Ditto for me.

Adam S.'s Comment
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What’s the difference? Can I avoid paying off swifts so called “student loan”?

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I believe Swift is self-financed. I signed their tuition contract, which did not involve any Student Loan type paperwork.

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Thank you! Big help and a weight lifted off my shoulders.

PackRat's Comment
member avatar

Sure you can.

Either attend the Swift training on your dime, or hire on after the training, drive for them anywhere from 10 to 24 months and the cost of training is covered in full.

This is how it works with any carrier that offers training.
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