Funding Loss Imperils Driver Training Schools
Thousands of truck driving students have been sent home and scores of training schools may yet be forced to shut down because of the loss of funding for student loans, according to industry sources.
Student Finance Corp., a Wilmington, Del.-based company that has been a principal source of loans for students enrolled in driving courses throughout the country, halted all financing activity in February, forcing many schools to suspend operations and potentially cutting off a major source of new truck drivers.Several other private lenders also have pulled back in the face of rising defaults on student loans, sources said.For the full story, see the March 25 print edition of Transport Topics. Subscribe today.
Student Finance Corp., a Wilmington, Del.-based company that has been a principal source of loans for students enrolled in driving courses throughout the country, halted all financing activity in February, forcing many schools to suspend operations and potentially cutting off a major source of new truck drivers.Several other private lenders also have pulled back in the face of rising defaults on student loans, sources said.For the full story, see the March 25 print edition of Transport Topics. Subscribe today.
