Tuition Reimbursement (TR) is a plan some trucking companies have to attract new CDL drivers to the company. Typically, a TR plan will pay a new-hire driver a fixed amount each week/month if they have an outstanding loan which paid for their CDL training. In the few TR programs I have read about TR will not be paid to a driver that has paid cash for their CDL training. The details of any trucking company TR vary a bit. In such an example, you could borrow the money, even if you don’t need to borrow, and then repay the loan while receiving your TR payment. In some cases, you may want to have a written promissory note, if money was borrowed from friend or relative to pay for CDL. Your TR may reqire proof of your outstanding CDL loan.
The amount the trucking company TRs pay may be more or less than your actual weekly/monthly CDL loan payment. If you took out a loan to pay for CDL school, you are obligated to repay your loan on the schedule described in your loan agreement. Your TR may pay you on a different schedule than your loan.
IF YOUR NEW JOB IN TRUCKING DOESN”T PAY MORE THAN YOUR CURRENT JOB PLUS COST OF YOUR LOAN EACH MONTH, you may want to reevaluate if you should work for the trucking company you have in mind.