If you’ve ever considered getting your commercial driver’s license (CDL), you know it’s a huge undertaking. The average cost of CDL training is $10,000, which doesn’t include purchasing or leasing a truck. So whether you’re looking to become a driver, thinking about becoming an owner-operator, or want to get a better understanding of the trucking industry in general, CDL training is something that all drivers should consider.
However, getting funding for truck driving school is the first step that most students should consider. Education for a career does not have to be costly if financial options are available to students.
Here are some great ways how you can fund your education –
1 – Company-sponsored CDL training programs.
Company-sponsored CDL training programs are an excellent way for a company to attract new drivers. Often, the company will pay for the cost of your training, and in return, you agree to work for them as an employee for at least six months after graduating from school.
This is an excellent opportunity because it allows you to secure a job with one of these companies before you finish your training.
2 – Federal and State financial aid programs.
Federal and state financial aid programs are a great way to help pay for your CDL training. In addition, you can receive student loans, grants, and scholarships to help fund your education if you’re eligible.
These programs include –
- Pell Grants: These are need-based grants awarded by the federal government through the U.S. Department of Education. You just have to fill out a Free Application for Federal Student Aid (FAFSA) to be considered for this type of funding from your state university or college.
- Workforce Investment Act (WIA) Funding: Various employment services are offered through this program, such as job search assistance, placement into jobs, and follow-up visits with employers after completing a WIA-approved training program
3 – Trucking School Scholarships
Scholarships are a great way to get money for CDL training. Many different types of scholarships are available – including those from organizations, private companies, and government agencies. Then, there are scholarships specifically for women, veterans, or low-income families.
These scholarships can be based on your gender or military service record (if you’re a veteran). Some require that you be a member of an association or live in a particular geographic area.
Scholarship funding varies from $200 – $5,000 depending on the type of program you apply for and whether it is funded by the government or private sources.
4 – Truck Driving School Loans
A truck driving school loan is a financial aid option that helps you pay for your training. You can apply for one through your trucking school, which will then direct the loan to you in whole or in installments as you work toward completing your training.
The benefit of this type of funding is that it provides a convenient way to pay for CDL training before graduation to begin working as a driver.
CDL training is an excellent investment for your future but can be expensive. That’s why you should consider all your options for funding for truck driving school. Truck driving is a good career choice, especially if you’re located in the United States, as the demand for drivers continues to increase.