The Financial Planner's Guide to College Funding Advice teaches a proven, step-by-step process for helping families manage their college-education investment. In the second part of this eight-module, self-study course, financial planners will take a deeper dive into the process and strategy around the College Pre-Approval process that identifies the client journey in college funding planning from budgeting and determining a maximum student loan amount, to reviewing and appealing financial aid offers, utilizing tax strategies and coordinating specific payments to the institution. In addition, the course provides real-world scenarios to analyze how to wisely manage assets and tax opportunities to maximize aid and minimize debt. A special FPA bonus section includes important updates since the new tax laws were implemented, as well as education on how to effectively serve college-bound families with more impactful and meaningful late-stage college funding advice.
Please note: Planners must complete the entire course (five modules and quizzes) to receive CFP CE credit.
Joe Messsinger, CFP®, is the course presenter and a leading authority on late-stage college funding and frequently speaks to organizations and parent groups, such as NAPFA, FPA, and XY Planning Network. He started Capstone Wealth Partners because of his struggles at large national firms to find and provide good financial advice,especially in the area of college planning. The large national firms seemed to focus on selling products to clients. After months of soul-searching, Messinger and his partner formed Capstone College Partners, an independent fee-only practice, with the intent of creating client relationships built on trust.
Level of Complexity: Intermediate
February 13, 2019
- Review the basics of financial aid policy and student loan process to help clients determine an affordable college, and appropriate student loan amount.
- Create a family college budget to project a family's out-of-pocket cost at individual institutions, income and asset strategies to maximize financial aid offers, and cash flow planning for college.
- Review how the new tax regulation impacts college planning strategies and tools including updates for EE Savings Bonds, Coverdell Education Savings Accounts, 529 College Savings Plans, education tax credits, education loan deductions, the Child Tax Credit, asset and income strategies, the Kiddie Tax, income shifting strategies.
- Analyze Expected Family Contribution to help clients reduce EFC and increase need-based financial aid.
- Identify eligible tax deductions and tax credits for education, reducing AGI and income to increase need-aid eligibility, and multi-generational tax planning strategies to reduce EFC, and coordinating 529 distributions.
- Review types of loans available to students and their parents to determine funding options and loan-repayment plans, merit-based financial aid versus need-based financial aid planning.