I believe the contract is like for one year. If you fail to complete the year, you owe the total of the education back in the amount of say 6,000.
HELP please! I didn't qualify for Financial assistance. Loan Reimbursement OK?
Discussion in 'Questions From New Drivers' started by Cypher, Jul 8, 2009.
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Basically you sign a contract stating that you will work for that company for said amount of months and then you dont have to pay them back for school. Some places have a year contract, some have 18 months just depends on the company. You can get screwed because you might not like that company after 6 months and want to leave then you have to pay them back. But if you can make it through the contract then more doors with better companies will open for you.
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When I was trying to get my CDL at the time WIA did not have any funds.
Luckily they had a similiar program for people who have worked on a farm or
the like called M.E.T (Motivational Education Training). It may well be worth
a shoot to at least check in to it.
As for the work contracts, you will have to work for the company that does it
for a year or two and if for any reason you quit or fired you will have to repay
the schooling. And most of the time it will be a whole lot more than if you actually
pay for it yourself.
Before you sign your life away to one of the bottom feeding companies I would
check to see if any bank or goverment program would loan you the money for
schooling. It would be cheaper and your interest rate would be alot lower.kickin chicken Thanks this. -
Thanks so much for the reply's I will consider deeply all the above and make a thoughtful decision. Hopefully I can get the ball rolling very soon! ALSO on a side note! I was at the flying J in ohio on 280 yesterday. What a stop! Loved it. I got a gas card and a cb and antenna from them. Yeah I was that dumb 4 wheeler with the black car trying to figure out how to use the CB properly and testing to make sure everyone could hear me LOL!
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Another thing to think about. It will take you 20 months with Swift to break even on the cost of training. But if you either have or borrow the money to pay them up front for the training they will repay you in full after just 6 months. That way you aren't tied to them for too long and you will need at least 6 months experience to get on with other companies anyway.
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The contract for Swift is for 26 months. For the first 13 months you will pay the loan and Swift will repay you half of your payment so that at 13 months your tuition is paid. You'll have paid half and Swift will have paid half. For the next 13 months Swift will repay you that same half payment so that by the end of the 26 months Swift will have paid you every dime you paid except for your initial $150 fee at the start.
It's not a break even it's a Swift pays for it if you honor your contract.
Now a number of people act like Swift is so horrible for wanting the tuition paid if you don't honor your contract but frankly if you borrow money from the bank and go to school elsewhere you have to pay it back so why wouldn't you do the same here?
Anyway........you sent me a pm and asked me to help. All I know is that if you can't get a gov't grant/loan and you don't have the money then the only option I know is to go to a company that trains their own students and get the training that way.
Do your research, read everything on this forum about those companies; good stuff and bad stuff. Ask questions of those that work or have worked for the companies. Talk to the recruiters and believe half their promises or less. Look........would you believe the Army recruiter who says you can pick your own post, job and rank? No you wouldn't. A recruiter is a recruiter no matter who he recruits for.
Swift works for us, we don't expect to make experienced driver wages as newbie drivers. But it doesn't work for everyone. Some people have been very unhappy with Swift.
You're going to have to do something about your job experience. You sure don't have to explain to us about only one job at 29 years old but you can't hide anything from a company. And do NOT lie to them. They'll never touch you if you lie. Be honest with them and ask them for suggestions. It's just tough right now because there's less freight and more people wanting to be drivers. It also varies area to area. May I ask what part of the nation you're in?
I do wish you luck and will be praying for you. -
IL i've had more than 1 job just the last job i felt was a REAL job
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I'm not one for going into debt but do you have a credit card you could charge it to? That's what I did for the community college and it was 2K...didn't qualify for financial assistance. I would almost rather do that than sign a contract with a company. They trap you and use and abuse you.
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Have you tried looking at community colleges with driving programs? Some of them might be able to help you money wise with a grant or student loan.
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