Tips For Better Budgeting Your CDL Training

On average, CDL training costs can range from $1,200 to $10,000 in terms of schooling plus additional fees such as drug testing, temporary instruction permits, DOT physicals and other costs. This can vary as well depending on if your training is part-time or full-time. Theres a variety of options available to you whether youre a veteran, looking to navigate a career change or this is your first career. Read below to find what funding options might work best for you:  

Financial Aid: Depending on if you meet the qualifications, there is financial aid available through FAFSA for CDL training school. If youre a first time student, youll have to attend classes at a half-time minimum for 30 days in order to receive funds. After the tuition has been paid and if theres an overage, you can use this money to help pay for any additional costs of the school; for example, if you need to pay for housing in case you have to move to a new location for the duration of your training or drug tests and physicals.  

Veterans Benefits: As a veteran, there are various funding options available to you. A specific funding option is post-9/11 GI Bill benefits you can receive if you served after September 1, 2001. Post 9/11 GI Bill funding can cover partial or full tuition costs, housing, books and supplies if you qualify. You should review your particular benefits as the coverage eligibility varies.  

HELOC: If youre a homeowner you can fund your training by tapping into your homes equity to an extent. A home equity line of credit (HELOC) can give you cash to put towards your tuition that you can pay back over time, typically with a lower interest rate than a personal loan.  

Working While Training: Through our entry-level tractor trailer program-160, we offer a weekend training schedule over a 10-week period. This option can be beneficial if you cant take time off of work for financial reasons but still want to get started on your new career journey part-time. 

Family/Friends: If it seems as if none of these options are working in your favor, you may want to reach out to some family members to be a co-signer on your loan or help pay for your tuition by check, debit or credit card. Family or friends may be able to help you achieve your new career goals with a little financial help and perhaps you can set up a repayment plan once you have a trucking job after your completed CDL training. Some companies even offer tuition reimbursement once youve signed with them without a commitment. 

Discuss with your family and decide on which option is the best fit for you and your program. After successfully completing your training and passing your road test, youll be in a better position to move into a career that provides you with work-life-balance, the opportunity to travel or stay home with the family, and better suit your lifestyle.  

Leave a Reply