Financing Options For Truck Driving School

by Tanya Bons

You have decided that you're ready to commit and hit the road as a trucker but then you check into the costs of truck driving schools. You're unemployed, or underpaid, and you certainly can't dish out three grand or more to attend a school. So how can you can afford to get your truck driving career started? Fortunately, there are numerous financing options available.

State and Federal Grants For Trucking School


The first option you want to check into is State and Federal grants. WIA, the Workforce Investment Act, has many different grant programs available that often pay the entire training cost.

You may be eligible for funding if you are a dislocated worker. Dislocated workers are workers who have been let go or laid off from their current job and are unlikely to return to the industry due to a permanent plant closure, foreign competitors, or lack of skills. Dislocated workers can also be self-employed or unemployed people who can no longer make a living due to natural disasters or the lack of skills to obtain a job that can support the household.

To get more information about WIA, the Workforce Investment Act, you should contact your local unemployment or job office/center and ask about getting a training grant. These programs do take some time for approval and often run out of money early, so I would advise you to make contact with an agency as soon as possible.

If you are not eligible for the dislocated worker program, you may be eligible for TAA funding. Trade Adjustment Assistance (TAA) funding is available to people that may have lost their job due to foreign competition or trade.

If you are currently in a rehabilitation program or if you have had to switch careers due to an injury, you may be eligible for training funds. Contact your local rehabilitation office.

Contract Training or Company-Sponsored Training

Some truck driving schools offer contract training. Contract training, also known as CDL training">company-sponsored CDL training, is when a trucking company will offer you free or inexpensive CDL training. In return for this training, you must agree to sign a contract to work for their company for a set amount of time, normally a year or more. If you do not fulfill your end of the agreement, you will have to pay back the full cost of your tuition.

Contract Training can be a viable way to obtain training but it should be a second choice, not a first choice. Contract Training requires a detailed contract that is not only confusing but highly in favor of the company. Some contracts include large amounts of interest and exaggerated pricing for the training you receive. This may not be an issue, unless you cannot fulfill the contract.

Obviously, if you are signing the contract you expect to complete the obligation successfully but there are factors that may interfere. You should begin by reviewing the sections that refer to your abilities to obtain a CDL. Some contracts mention that you can be expelled from the program, even before the end of the first week, and you will still be responsible for the full cost of training. If you have a family emergency, have to delay training, or you must quit your job to be home with the family, you can find yourself owing the company thousands of dollars for reneging on your contract.

Truck driving school graduates should drive for the same company for a year, ticket and accident free, but signing a contract that you will do so is jeopardizing your ability to move on and up if the opportunity provides itself. So be careful. As always, when signing a contract, know what you are agreeing to.

Student Loans

Many truck driving schools offer loans through financial companies they work with. Loans can be obtained by individuals with bad credit, often with a co-signer, but be wary because some of these loans have outlandish interest rates. As with the Contract Training, when you sign, know what you are agreeing to.

Company Grants or Loans

Another option, if you are currently employed, may be loans or grants made available through your company. Some of the larger companies offer their employees incentives to get training or education, and truck driving courses fall under some of these approved programs. Contact your Human Resources Department and ask them if they offer funding for truck driver training.

Funding For Native Americans

Many Native American students are eligible for funding through their tribal council or the Bureau of Indian Affairs. These programs often pay the full tuition for truck driving school so you should check with your local chapter for eligibility requirements. If you or an immediate family member are now or once were a union member, you may have funds available for training in an educational annuity. Often people think of using an educational annuity for higher learning but many can be used for vocational training, including truck driving school. Check with your union for more information.

Funding CDL Training With Credit Cards

Credit Cards are a great way to fund truck driver school. If you have a good credit history you can often get a new card with an interest free period. Depending on the length of time, you may be able to pay off the full tuition before the card accumulates any interest. Most truck driving schools accept Visa, MasterCard, Discover and American Express.

Alternate Types Of Financing

Some schools may offer alternative financing, such as putting a deposit down and paying the balance before you graduate. You can check with your chosen truck driving school and ask about additional options for financing the class.

VA Loans

Most college-sponsored programs (courses offered by community colleges) accept VA loans. Check with the college to verify that it does offer the loans and how much in the way of out-of-pocket costs you will have to incur. Some colleges will send students through with no upfront cost to them, others will have the students pay all tuition and fees upfront and wait for reimbursement from the government. Some private schools will also accept VA loans so check with all local truck driving schools.

Tuition Reimbursement

After you complete training and venture out into the trucking industry you will find that many of the companies offer tuition reimbursement. Though this program does not help you pay for school, it will help you regain the costs of training. Companies will need a receipt from the school and they will issue a stipend, normally on a monthly basis, that will pay you back for your training costs. Reimbursements will not be available for individuals that received training with a federal or state grant.

The monthly stipend varies from company to company and it does take a substantial amount of time to get all of your money back. But it's a nice bonus and can help with credit card payments or loans from family members.

Call or visit local truck driving schools and speak with the admission coordinator. They will help lead you through funding options. Read and review all contracts, know what you are signing, and enjoy your journey!

Drive safe, Tanya Bons Spirit CDL Training


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.


Dispatcher, Fleet Manager, Driver Manager

The primary person a driver communicates with at his/her company. A dispatcher can play many roles, depending on the company's structure. Dispatchers may assign freight, file requests for home time, relay messages between the driver and management, inform customer service of any delays, change appointment times, and report information to the load planners.

Company-sponsored Training:

A Company-Sponsored Training Program is a school that is owned and operated by a trucking company.

The schooling often requires little or no money up front. Instead of paying up-front tuition you will sign an agreement to work for the company for a specified amount of time after graduation, usually around a year, at a slightly lower rate of pay in order to pay for the training.

If you choose to quit working for the company before your year is up, they will normally require you to pay back a prorated amount of money for the schooling. The amount you pay back will be comparable to what you would have paid if you went to an independently owned school.

Company-sponsored training can be an excellent way to get your career underway if you can't afford the tuition up front for private schooling.


Hours Of Service

HOS refers to the logbook hours of service regulations.


Operating While Intoxicated

by Brett Aquila

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