Student Loans for Truck Driving School: How To Pay for CDL Training

If you're planning to earn your commercial driver's license (CDL), you'll likely need to cover several up-front costs, including tuition, licensing fees, and required medical exams. Depending on where you train, the total can reach several thousand dollars.

The good news is there are multiple ways to pay for your CDL training. You may be able to use federal or private student loans, apply for workforce grants, or even qualify for an employer-sponsored program that covers the full cost of tuition.

Here's how to pay for truck driving school and what to consider before borrowing.

Current private student loan rates

Can you get student loans for truck driving school?

You may be able to use student loans to pay for CDL training, but it depends on where you enroll. Some truck driving schools are eligible for federal financial aid, but only if they're accredited and participate in the Title IV federal student aid program. These schools are often community colleges or accredited technical schools.

Private student loans are another option. While most lenders limit borrowing to students in degree programs, some, like Sallie Mae and Ascent, offer loans for career and vocational training, including certain CDL programs.

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Federal student loans for truck driving school

If you're attending an accredited truck driving program that participates in the federal Title IV aid program, you may qualify for federal student aid. This can include Direct Subsidized and Unsubsidized Loans, PLUS loans, Pell Grants, and federal work-study. To apply for this aid, you'll need to submit the Free Application for Federal Student Aid (FAFSA).

Most community colleges and some vocational schools meet the accreditation and Title IV requirements. A few CDL schools that qualify for federal aid include:

• HDS Truck Driving Institute (Tucson, Arizona)
• U.S. Truck Driver Training School (Michigan)
• American Institute of Trucking (Phoenix, Arizona)

You can use the Department of Education's accreditation search tool to check if your program is eligible.

Private loans for truck driving school

If you're not eligible for federal student loans, private student loans may be an option. But not all lenders cover truck driving programs, so it's important to confirm that your school is on the lender's approved list before applying.

Some lenders that may offer student loans for CDL training include:

• Ascent: Ascent offers a Career Training Loan with flexible repayment options, including a deferred outcome plan that allows you to wait to make payments until you receive a job offer.
• Sallie Mae: Students can borrow up to 100% of their program's cost through Sallie Mae's Career Training Smart Option Student Loan.
• College Ave: College Ave offers a Career Training Loan if you're enrolled in a CDL program through an accredited community college.

If you're considering private loans, be sure to compare interest rates, fees, repayment terms, cosigner requirements, and any payment relief options the lender offers. You can prequalify with multiple lenders at once on platforms like Credible to compare rates without affecting your credit.

Best ways to pay for CDL training

Before taking out a loan, explore other funding options that don't require borrowing. Some of the most common ways to pay for CDL training include:

• Employer-sponsored CDL programs: Many trucking companies cover the full cost of CDL training for new hires, and some even pay you while you complete the program.
• Workforce grants: The Workforce Innovation and Opportunity Act (WIOA) offers grants for adult education and job training. You may qualify if you've been laid off, aged out of foster care, are an English language learner, or have a low income.
• School-based payment plans or financing: Most truck driving schools offer payment plans that let you pay over time instead of up front. Some also partner with third-party lenders to offer in-house financing.
• Tuition reimbursement: Some employers will reimburse your CDL training costs after you're hired. Check with your HR department to see if tuition assistance is available.

How to decide if a CDL loan is worth it

It's easy to focus on the potential salary boost from earning your CDL, but it's important to think through the financial commitment first.

“Like any investment, borrowing money for career training requires thoughtful review,” says Jim Blankenship, a certified financial planner based in New Berlin, Illinois.

Before taking out a loan, Blankenship recommends asking yourself:

1. Will the training pay off relatively quickly in the form of a higher salary?
2. Is the program recognized within the trucking industry?
3. Is this a career path you can stick with long-term?

That last question is especially important. Truck driving often means being away from home for days or even weeks at a time. If the lifestyle isn't a good fit, taking on debt for training you won't use could be a costly mistake.

Blankenship also suggests preparing for a slower return on investment. “Make sure you can take care of repayment in your current situation, even if it takes some time to see the return on investment from the training,” he advises.

See Also: Pros and Cons of Student Loans: Are They Right for You?

Cost of truck driving school and CDL training

Truck driving school typically costs between $3,000 and $7,000, though some programs may charge $10,000 or more, depending on the school and location. But tuition isn't the only cost to plan for. Earning your CDL also involves several additional expenses, including:

• Application, exam, and licensing fees: States charge various fees for your CDL learner's permit, written and skills exams, and the license itself. These can total over $100.
• Department of Transportation (DOT) physical and drug test: The FMCSA requires drivers holding a CDL to undergo a physical examination and drug test by an approved, licensed medical professional. Together, these tests can cost between $50 and $200.
• Materials: You may need to buy textbooks, logbooks, uniforms, or study guides. Expect to pay around $100 to $500 for supplies.
• CDL endorsements: If you plan to transport hazardous materials, drive tankers, or operate other specialized vehicles, you'll need additional endorsements. Each requires a separate exam and fee, typically ranging from $10 to $45.

Truck driver salary and career outlook

Truck driving can be a well-paying and stable career. According to the U.S. Bureau of Labor Statistics (BLS), the median annual wage for heavy and tractor-trailer truck drivers is $57,440.

However, industry data shows many drivers earn more. The American Trucking Associations' 2024 Driver Compensation Study reported a median salary of $76,420 for truckload drivers in 2023. Drivers who own and operate their own trucks tend to earn significantly more. Owner-operators had a median annual income of $186,016 in 2023, according to the same study.

Beyond salary, truck driving offers strong job security. The BLS projects around 240,300 truck driver openings each year over the next decade, driven by consistent demand for transporting goods across the country.