Financing CDL Training through a Bank?

I see...that sux...another option for you might be to talk with your state's vocational rehabilitation office. They might pay for your school based upon your medical issues. (hence, you must have something medically wrong with you) Good news is that it can be anything from muscle spasms to cancer. So, think about your medical issues and give them a call.

p.s. This is a very quick and easy process in Arkansas. However, your state may be different.

 

I have been told that the schools that offer the 160, 200, or 240 hour training are not eligible for federal student loans or pell grants because they are not enough hours.

The 20 week schools that are out there are eligible for the federal programs because they have enough hours to meet the minimum hours needed for these federal programs. They purposely make the school that long to meet those minimum hours. Those schools tuition is $9-10k.

The lesser hour schools can be WIA approved, so that is an option to get a grant. But, you may need to go through a lot of bureaucratic mumbo jumbo to see if you are eligible. My local state workforce office told me it is about a 2-3 month process, and it's still not a given that you would be eligible after going through the hoops for 2 or 3 months.

To the OP, look for a state tecnical college that is close to you and see if they offer the driving school. It's a lot cheaper.

 

Taking an interest bearing loan over working a year for a company to get a CDL is a terrible, terrible idea.