The Certified Student Loan Advisor program is a CE Approved course for financial professionals focused on the complexities of student loan repayment programs.Today, the average graduate leaves school with more than $25,000 in student debt. For professionals debt loads can meet or exceed $300,000. Traditional financial advice has been to pay off the loans as quickly as possible. Unfortunately, the increased debt loads along with modest income increases over the last 2 decades has made that philosophy outdated and difficult to achieve for many graduates.
The future of financial planning will demand that one consider alternative repayment options and more sophisticated strategies allowing for the next generation of professionals managing student debt while allowing for future plans.
The CSLA program is designed to educate financial professionals on current student loan programs, debt repayment options, and how to advise the client about their financial matters while mitigating the impact of their student debt.
Who should take this course?
CFP, RIA, CLU and other advisors who will be providing financial advice to young professionals and college graduates with student loans.
The CSLA program provides you with the tools to attract new clients for life. In addition to all of the important information you need to know when advising a student loan borrower, we promote you as the best resource for help because of your specialized knowledge and ability to provide comprehensive financial advising.
We also provide an optional software package to help with your consultations. It provides you with the capability of calculating multiple scenarios for the client to deliver their optimal repayment plan for this point in their life. As their situation changes, you can create new scenarios and repayment plans. Visit the CSLA Institute to find out more.
The course consists of video segments from 10-25 minutes each with quizzes to test comprehension. If you need continuing education credits, our course is approved. Specific availability depends on state and type of credential you hold. Find out more at the CSLA Web Site Here.
- The student loan debt problem and how it affects your clients
- The basics of student loan programs
- Understanding the impact of subsidized and unsubsidized loans
- Incorporating student loan advising in annual client reviews
- Navigating the national student loan web site
- Helping your client with choosing a repayment program
- Understanding how life changes require updating their repayment program
- The counter-intuitive nature of tax filing status and student loans for married borrowers
- Understanding deferment, forbearance and default status
- How to consolidate loans and the associated risks/rewards
- Filing annual documentation – what borrowers need to have
- Understanding Direct Loans, Parent Plus and FFEL
- Perkins Loans, health profession and other types
- Helping a client determine program eligibility
- Understanding loan postponement and when it makes sense for your client
- Mandatory and discretionary forbearance, limited deferment
- Legal notes, current laws, implications, updates
- Income driven repayment programs, PAYE, RPAYE, ICR programs
- Understanding tax implications of forgiven debt
- Planning for forgiven debt – strategies and options
- Loan forgiveness options, requirements, process and eligibility
- Qualifying your borrower – key steps
- Community property implications for repayment plans
- How to enroll clients and maintain the advisory relationship
- Other topics are being adding to the next version