Schneider Training Academy NOT FREE ANYMORE

I'll let you know if there is anything you should be aware of

 

Now this is why I like this site. it opens my eyes to other things around me. Since I was not completly decisive on where I was going to get my training, I had not checked out contracts yet....but I have now, at least Schneiders. Here goes....this is what I have found out. Tuition is $4500. Interest is 18% set on a 3yr loan. Finance charge is $1357 making total payments $5857. With monthly payments set at $163. Now Schneider pays $50 a week and deducts $12.50 a week from your check, which makes your monthly payment ( providing you put it towards the loan ) $250. That makes the total to loan $4500. Now you have already paid $975 of that $4500 by paying the $12.50 per week and you will have the interest left to pay off which should be less then the $1357 because you are paying more a month which will go to the principal ( and I don't even begin to know where to start figuring that up ). But NO it is not free but then again what is ? Bottom line it is going to cost YOU , the trainee about $1300. So thank you guys again because I would not have got to looking at contracts for several more weeks and up till yesterday I thought it would be wiped clean by them if I stayed 18 months, then found out from them, that I would be paying the $12.50 a week and now find out the extra finance charge too. Lets see.....IF IT SOUNDS TOO GOOD TO BE TRUE.....IT USUALLY IS. But hey again what in life is free and $1300 is not a bad price for training school from what I have seen.

 

I just got off the phone with a recruiter. The cost is $4500.00. They pay lodging and two meals daily. After words they will take about $16 and some change from each weekly paycheck. Schneider will then pay about $52 a week. So after 72 weeks, you have paid about $1200 (including the interest) out of your money and they have paid the rest.

A much better deal than CRE, which is the only other one I have talked to. They will hammer you 18% of $2995.00 (which is about $540.00) and in the end you have paid for all of the schooling, plus a tidy little profit for the CRE.

 

It must be different for different areas or the recruiters may not know for sure. I talked with a person of management he was not a recruiter, I asked first queston. Who knows....but I agree its still not a bad deal. But there are some out there saying that they will wipe debt clean after a certian period. Im still like Schneider tho. Prime you have to go out with a trainer and run as a team for 4months. That scares me away from them. $ months in a cab with a stranger.....who may even be stranger then me.....I dont think so.

 

That should have read....4 months