5 Ways to Pay for Trucking School

So you're looking to get into the trucking business, but what school should you go to and how should you pay for it? Paying for trucking school can be a big expense and depending on what school you go to could make a difference on who hires you (we will examine that in another article).

The tuition cost for trucking school can be a heavy burden. Assuming you don't have the money to pay out of pocket, there are several ways to cut down on the cost and still start a new career in the trucking industry. I'll explain five of those ways for you right here.

1. Use a Credit Card with 0% interest. I use to be in the banking business before I started recruiting truck drivers. Our bank decided to pursue trucking schools in an effort to boost our credit card clients. What we found was that the average trucking school was charging 21% for student financing, but our card was 0% for the first 12 months and between 7-13% after. This is a huge savings in the end. Many times new students couldn't get approved on their own, but with the help of a supportive relative were able to. First, try on your own and if you're not approved explain to your family member that you're looking to better yourself with a new career and need a little assistance.

2. Use trucking school finance. Yes, the rates are much higher, but you have a very high chance of getting approved.

3. Go to work for a company that provides your schooling upfront. Typically you will not make as much as you would going in with a CDL, however you will have little upfront expense and in a month or two you'll be making just as much as everyone else. Classausa.com has several companies that will finance your education upfront. Just keep in mind, most companies that pay your education upfront will require that you stay with them for a period (typically 6-9 months).

4. Borrow the money from family on contract. These days there are several low cost legal services online. For a small fee you can draw up a legally binding contract that may give your family member or friend more confidence when loaning money to you.

5. Apply for private or government funding that is offered to provide grant money for skills training. Some of these programs include the Workforce Investment Act (WIA), vocational rehabilitation (VocRehab), Trade Adjustment Assistance (TRAY/TAA), and the welfare-to-work (WtW) programs. Military veterans have the additional option of applying for funding through the Veterans Administration (VA).




IndyHealthAgent.com is your connection to finding health insurance in the trucking industry. Hundreds of owner operators have found the affordable health coverage they need to keep them and their family safe.

The Best Paying Jobs in Trucking

Driver jobs are increasing, so is enrollment to driving schools. Higher paying jobs require more skill and can be more dangerous. Once school is done, a driver must get a few years of experience to qualify for higher paying jobs. The state drivers live in or work from has an impact on what truck driving jobs pay the most.

Once a new class A driver is finished with instruction, the average pay is around $35,000 per year. As the driver gains experience, more class A truck driver jobs become available for them to choose. The higher paying truck driver jobs are reserved for those with the most experience and best driving record. In just a few years, a good driver can increase annual income significantly.

The highest paying state for class A truck driver jobs is Mississippi. The average class A driver makes around $68,000 per year. Wyoming and New York are a close second averaging $60,000 annual income. A driver's salary depends equally on load, driver experience, and danger involved. More experienced drivers will get the higher paying jobs. The more dangerous a haul is, the more it pays.

Ice Road drivers must drive on 414 miles of road that are mostly ice. The drivers can only drive these roads in the extreme cold of winter as a lot of these roads cross water. The water must be frozen solid to be driven on by heavy trucks and their loads. Ice Road truck drivers average $120,000 for 3 hauling months. Some loads pay even more.

The mining industry needs experienced truck drivers too. They pay well to move product with a dump truck. In Australia, mining companies pay dump truck drivers an average of $100,000 per year to drive for them.

If a class A driver is interested in living in another country, Iraq is the top choice for pay. On average, a truck driver in Iraq can earn between $125,000 to $250,000 per year. Of course a significant amount of income is because of the danger involved driving truck in a war torn country.

Other high paying class A truck driving jobs includes other heavy and dangerous hauling. The bigger the load, and the more danger involved, the higher the pay. The oil industry also pays drivers well for hauling large machinery or hazardous material. Hauling large or dangerous loads requires only the best class A licensed drivers with a lot of experience driving.

IndyHealthAgent.com is your connection to finding health insurance in the trucking industry. Hundreds of owner operators have found the affordable health coverage they need to keep them and their family safe.

Health Insurance Benefits For The Owner Operator

So you've decided to take the big step of becoming a owner operator in the trucking industry.  Your income potential is now in your hands and the goal is to boost that income as much as possible.  However, there is now one problem, you are left without the much needed benefits that your previous employer offered you.

The USA has one of the highest cost of healthcare in the world and while we all hope we never become a statistic, thousands of people become a statistic every year.  Money you earned and worked for stripped from you in a instance.  There is a need as a owner operator to protect yourself and your business.  However, it does not need to cost a lot.

The fact is you will likely (and hopefully) go all year without any major procedure, any hospital stays and if your like most of us, just a annual checkup with your doctor.  This is the goal and with a healthy lifestyle it may very well be a reality.  Because of that I personally go with a somewhat high deductible myself ($5,000) and I don't pay for extras like doctors co-pays and over-priced Rx(annual check-ups are free under most plans).  I personally have a policy that will pay for my medical care in the event that I have a major medical problem and am looking at serious financial ruin.

Let's do the math.  Take a 35 year-old female and a 38 year-old male making $50,000 (income is important because of new subsidies) a year and in good health living in Indiana.  In June of 2014 a policy with a $5,000 individual deductible would cost that couple about $245 a month.  Doctors visits and Rx would not be covered until the deductible is met.  The couple would receive the network discount (which is usually significant).

That same couple would pay about $587 for a $750 individual deductible with doctors co-pays and Rx before the deductible is met.  That’s $342 more a month though.  $4,104 more a year in premiums.  There are other factors to consider (co-insurance, upfront doctors co-pays etc.), but I don't think it makes since to pay $4,104 more a year to get a deductible that is $4,250 less.  The point is to protect yourself, but be smart about it.

So where do you look for health coverage?  There are many sources available to help you find health insurance.  The best thing to do is research companies that have a large network and have polices available that meet your personal needs.  A local health insurance agent can assist you with this search.  In addition, there are also several resources available at local hospitals and government agencies. 



Larry Medcalf is a licensed health insurance agent. His main focus is on serving the life, health, Medicare and long-term care insurance needs of small businesses and middle-income families and individuals.  His website IndyHealthAgent.com is your connection to finding health insurance in the trucking industry. Hundreds of owner operators have found the affordable health coverage they need to keep them and their family safe.