"The Truth About Trucking" by Allen Smith

$50 a week for two years is $5200..

 

This is true with Swift, yes....I've looked into their program and they lay out the whole shebang for you right off the bat:

"Cost of the program is $3900 and each student will sign a contract that they will work with Swift for 13 months. Over the 13 months, Swift will deduct $37.50 from your weekly paychecks, and by the end of the 13th month, you will have paid in $1950. At that point, Swift will match your $1950 and pay off the $3900 loan; so basically, it is only costing you $1950 if you stay the entire 13 months. If you leave sooner, you are responsible for the balance of the total $3900 minus what had been paid in toward the loan. After your 13th month, Swift will reimburse you $37.50 per week until you have been paid back the $1950 that had been deducted the prior year."

So theoretically if you quit or get fired after 3 months, they're gonna be sending you a big fat bill for $3450.00. If you stay for 13 months and then leave or get fired, you owe nothing but will have paid $1950 for the training. If you stay for 26 months, they'll have given you your entire $1950 back and you'll have essentially paid $0 for the training. (Although it takes a long time to get your money back).

The downside here is you're stuck working OTR for Swift for over a year unless you want a hefty penalty. If everything goes perfectly, it can work out well, but you're obviously tempting Murphy and his law here a little bit that everything will go right, so it would be wise to have that money in the bank anyway just in case some thing goes wrong. Honestly Swift is the only big carrier I know of that is offering this sort of deal to newbies.

 

The wide range in prices can be accounted for by who's providing the training. Private schools in my area are in the $3750-$4700 range, which are privately owned, for profit businesses. (Usually family run but still.)

Cheaper programs given by Community Colleges are part of your state's public education system, so they are non-prof and relatively cheap just like community college credits in general. They might spread the training out over a longer period of time, or may not even be available in your area. None of the CC's in my area offer CDL training but in many areas they do.

 

Hey Joker. I noticed you live in NC. I would highly recommend going the community college route. I'm currently attending JCC in Smithfield, NC and this program is just a little over $800. The program may take a little longer than some private schools, but the extra time in my opinion is well worth it. And if you go to JCC and graduate then you have definitely earned it. They are the oldest driver training school in the nation and are really detailed and strict. They're not just going to give you a certificate. Plus, once you graduate, the job market is wide open and a few of the instructors have some good contacts with local companies. I'm looking to go with a fuel tanker outfit that hires straight out of that school, but still leaving the door open for other opportunities. If I'm not mistaken, I believe there are also financial assistance opportunities. If you want, I'll be more than glad to give you the lady's contact info who can give you more details.

 

How is paying even money without interest considered a "hefty penalty" when if you take the same class privately and come out owing over $5K plus interest merely considered an investment in your future? It is reasonable for an entity to expect a return on its investment, similar to the expectation of someone "buying" their CDL on the open market. The only difference is who you owe and the interest rate.

You are no more tied to Swift by taking their class than you are if you get your CDL through a $6K private CDL mill. Both expect payment for services rendered.

 

My point was that for the guys that are hard up that don't have the money in the first place who are counting on being subsidized by a company like Swift, they could in theory end up getting bit in the butt if things go awry for them.

I have no idea how lenient or not Swift is in dealing with (former) drivers who still owe them money for training. If they allow you to make payments on the remaining balance, that's not too bad at all. If they give you 2 weeks to pay it in full and then send it to collections to wreck to your credit, I would say buyer beware.

 

They are willing to work with students who move on for whatever reason. They will set up a payment plan as long as you talk to them. I know this from personal experience.

BTW: that payment plan remains interest free.

But you have to talk to them. They won't automatically do it for you.

 

Yep, Della is the one you want to talk to. She is super nice and a great person to deal with and very knowledgeable. I believe she even went through the course a few years ago. If you want to know any particulars about the class from a student's prospective, just let me know. I'll be happy to share my experience so far.

 

I stayed two years, but my "schooling" was paid off in 12 months.