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).




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