School Financing???

Discussion in 'Trucking Schools and CDL Training Forum' started by philjo, Sep 23, 2010.

  1. philjo

    philjo Light Load Member

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    Dec 22, 2008
    Indiana
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    Well, I was supposed to be in school a couple of weeks ago but it seems the ads in the paper and online are misleading, kinda like car sale ads. It appears that to enroll into school you must provide your own loan, even though companys give wannabes the impression they provide this. My intended school tells me that I need a co-signer. After completion of school the employer will then make pymts on my loan with money from wages. The loan continues to stay in my name until paid in full to protect the company. Is this the norm?
     
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  3. Emulsified

    Emulsified Road Train Member

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    May 6, 2010
    Dallas, TX
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    It depends on where you are and the school.
    Most private schools arrange financing. Your credit may require a co signer. All loans are 'student' loans (usually) and fall under those guidelines.
    Some states will pay all or most of your school costs if you're on unemployment. California is one of those. Check with your unemployment office for details.
    Many starting companies offer loan payback. Some will make those payments directly to your lender, some will pay you and you will be required to make the payments. Most of these programs are on top of your wages and are something around $25-$30 per week until you reach a maximum or the loan is paid.
    Check with any prospective employer as to their programs.
     
  4. philjo

    philjo Light Load Member

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    Dec 22, 2008
    Indiana
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    Thanks, for now my only alternative is look at companys who provide their own financing and schooling. So far Im looking at Central Ref. and Swift. CRST was on my list till I couldnt find a single good thing said about the company:biggrin_25513:. I wish Schneider would re-open their school.
     
  5. stallardjrs

    stallardjrs Bobtail Member

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    Sep 2, 2010
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    Look into the WIA through your state unemployment office
     
  6. philjo

    philjo Light Load Member

    138
    26
    Dec 22, 2008
    Indiana
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    I have, they dont pay the entire amount, about $1500 short. They also told me its at least a 2mos. wait for approval and even then after going through all of Workones hoops they get to make the final decision whether or not they feel Im a good candidate to become a trucker. I know several here have used it, but here in Indiana it seems quite the pain in the rear.
     
  7. smokies276

    smokies276 Bobtail Member

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    Oct 3, 2010
    Indianapolis, IN
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    Philjo, have you checked out Prime trucking paid training program?
     
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