Funding for Truck Driver Training
Now that you have decided to pursue a career as a Commercial Truck Driver, there are several options to finance your training unless you plan to pay for it yourself or with the help of a family member.
- Government Aid
Enrolling in a reputable Truck Driving school can open the door to funding opportunities through Grant Programs or Federal Aid. Be sure to discuss these options with admissions.
- VA Benefits
Many schools may be approved by the U.S. Department of Veterans Affairs (VA) for Educational Benefits and, if you qualify, eligible for the Post-9/11 GI Bill program.
- Student Loans
Many Truck Driving Schools offer student loans. A student loan can be obtained from private loan companies or individuals willing to lend money at a specific rate of interest.
- Reimbursement of Tuition Fees
This option is provided by many trucking companies. If you have not been hired by a company so far and you take your CDL training by paying for it yourself, many companies will reimburse you for your tuition. They will pay you back the agreed amount divided in each of your paychecks as you recover all or a portion of your cost while gainfully employed.
- Sponsorship from Existing Employment
This option is only available for drivers who are already employed or have been recruited by a trucking company. Their company will pay for their full training and licensing. In return, the drivers sign a bond to stay at that company for a prescribed period of time, usually a minimum of 1-2 years. This bond keeps the company’s assets with them for a long period of time and provides job security for the drivers.