The Financial Planning Association has partnered with Capstone College Partners, which helps advisors give better college funding advice, to build a self-guided course for advisors who want to create a college planning niche at their practice.
“College education can be one of the most important investments a family can make,” says FPA executive director and CEO Lauren M. Schadle. “FPA’s partnership with Capstone College Partners helps financial planners build their expertise in this area so they can provide families the advice they need to save and plan for the rising costs of higher education.”
The Financial Planner’s Guide to College Funding Advice has eight sections, each dedicated to a particular aspect of family funding of higher education, including the details of financial aid policy, loan strategies and ways to avoid plunging families into inappropriate debt.
Mass-affluent and wealthier households do not always qualify for needs-based financial aid, but many don't have the resources to pay for ever-higher tuition costs, according to the course description. An investment in college education could cost $100,000 to $250,000 per student, and the prices are rising at double the rate of inflation, according to the FPA.
Student loan debt in the United States topped $1.56 trillion in February, according to the Federal Reserve Bank of St. Louis. In addition to the financial peril borrowers risk facing—especially without proper planning—there is concern the debt could be burdensome to the government; 90 percent of student loans are guaranteed by the U.S. Department of Education.
CFP holders can earn up to 11 continuing education credits for completion of the course, found here.