Cash issue for school

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  #11  
Old 03-26-2007, 02:36 PM
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I just got out of school and I know alot of my fellow students put their tuition on credit cards. You gotta take a hit to get somewhere sometimes. Alot of companies LOVE students. Some will hire ONLY students and will pay you back for every dime you spent on tuition !!!! It's your best interest to go to SCHOOL. I loved it and will recommend it to anyone interested in learning how to drive that many lug nuts.
 
  #12  
Old 03-26-2007, 02:41 PM
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Yeah, I'm toying with paying for the schooling myself, I just haven't been able to find any good schools locally. I figure if the company is good I don't mind doing a year otr since I need that anyway to get a good local job round these parts.

Plus...I'm kind of a homebody so am considering that Roehl 7/3-7/4 program. I just hope the other 2 drivers aren't complete pigs.

:wink:
 
  #13  
Old 03-26-2007, 03:01 PM
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Default Re: re;cash

Originally Posted by NevadaJim
Originally Posted by kc0iv
Originally Posted by GTR SILVER
put it on a credit card................and pay it of in a year!
Putting anything like that on a credit card is about the worst thing you could do. Just look at the interest rate credit cards charge.

kc0iv
Not necessarily. You can beat the banks a little. If someone has decent enough credit they can apply for a card that is offering a 0% balance transfer for 12 months. Put the cost of school on one card and then transfer it to the new card at 0% for a year. I've been doing this for years.
Here's a few sites about those 0% interest cards.

http://www.bankrate.com/brm/news/cc/20020430a.asp

http://www.nasafcu.com/l2.aspx?ci=431

http://www.mdmproofing.com/iym/artic...arbitrage.html

http://www.bargaineering.com/article...-interest.html

http://www.oag.state.md.us/Consumer/edge118.htm

kc0iv
 
  #14  
Old 03-26-2007, 05:32 PM
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Originally Posted by groovemachine
Wouldn't you still pay the 75 bucks for the balance xfer fee? Regardless, that would be really cheap interest...not a bad idea! :wink:
With some, yes. The way to approach it is to take whatever your company is paying in tuition reimbursement and match it. For instance, if the company is reimbursing you 150 a month, make a 300 dollar payment each month. The cost, depending on the tuition, could easily be paid off in a year. And, if it did run a few months past 12 you'd only be paying the higher rate on a few hundred versus a few thousand. Just an idea for those that are fairly disciplined with their money matters.
 
  #15  
Old 03-26-2007, 11:56 PM
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Default Re: Cash issue for school

Originally Posted by nightbright1
I found a school for $3,000 but I only have $3,300 to my name.

Do I pay for school and hope I get hired with only $300 left over
or
do I go work for Schneider or Millis and get free schooling and start working with $3,300 safe in the bank??
If you go with Schneider or Millis, you can use the $3300 to live on until you are making the miles you want.

However, if you do that, DON'T tell your trainer about it, unless you fell like giving out loans until it's gone. I know their are a few good trainers out their. When I went with Schneider, I got a real scumbag. I got in his truck, which smelled like urine, and got out after a week. Refused to climb back, and requested another truck. That's another story by itself.

Otherwise, I have heard really good things about their trainers, so I would go that route.

Or you could go with a school loan. Talk with your bank about a goverment secured school loan. They will talk with the school, and see if they and you qualify.

Just my .02 cents.
 
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  #16  
Old 03-27-2007, 01:58 AM
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just don't forget to try your local employment security division. All of these are great suggestions unless you could get someone to pay for your schooling without it costing you a dime and no contract.

Arky
 
  #17  
Old 03-27-2007, 04:53 PM
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Looking around to start, I was in a similar situation. The local Community College just started offering a course to a Cdl. But can't do this due to the cost and the course time (still got a family to support).

So my answer was one of the training companies. Swift wanted a "seating fee" of $125 for their class (training at a local Community College). Plus deductions then adding an amount to your weekly pay. Overall, a two year commitment to be free and clear.

Big Orange, Schnieder, required no money upfront. Training at THEIR academy in Dallas (in my case), plus room and meals furnished. No payback of any type. However, there is (for Dallas) a commitment of 18 months to be free and clear. If you leave before (or get fired) then you will pay for the schooling. Pay during training on the road is $350 per week. This seems to me the best for my situation. 8)

Right now, I have my DOT physical on Thursday, then on to the academy for two weeks. Then I are a Pumpkin Driver !!
 
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  #18  
Old 03-27-2007, 06:09 PM
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Originally Posted by El Segundo
Looking around to start, I was in a similar situation. The local Community College just started offering a course to a Cdl. But can't do this due to the cost and the course time (still got a family to support).

So my answer was one of the training companies. Swift wanted a "seating fee" of $125 for their class (training at a local Community College). Plus deductions then adding an amount to your weekly pay. Overall, a two year commitment to be free and clear.

Big Orange, Schnieder, required no money upfront. Training at THEIR academy in Dallas (in my case), plus room and meals furnished. No payback of any type. However, there is (for Dallas) a commitment of 18 months to be free and clear. If you leave before (or get fired) then you will pay for the schooling. Pay during training on the road is $350 per week. This seems to me the best for my situation. 8)

Right now, I have my DOT physical on Thursday, then on to the academy for two weeks. Then I are a Pumpkin Driver !!
Good Luck. Make sure you keep us posted on how it's going.
 
  #19  
Old 03-27-2007, 09:41 PM
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Originally Posted by NevadaJim

With some, yes. The way to approach it is to take whatever your company is paying in tuition reimbursement and match it. For instance, if the company is reimbursing you 150 a month, make a 300 dollar payment each month. The cost, depending on the tuition, could easily be paid off in a year. And, if it did run a few months past 12 you'd only be paying the higher rate on a few hundred versus a few thousand. Just an idea for those that are fairly disciplined with their money matters.

Excellent advice. I'm thinking of paying up front on a cc for the Roehl tuition, xferring to my other card which usually is offering a 4.99 or lower apr for the life of the loan on a balance xfer.

I could pull the 300 or 400/month payment on the card especially if I don't renew my lease with Ford Credit that will be up in may.

Brilliant

:!:

arty:
 
  #20  
Old 03-28-2007, 02:07 AM
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