The CSLP training program is one of the best that I've seen. As someone who has taken and passed the CFP, CLU, and ChFC exams, I am a firm believer in being well-trained to provide your clients with the right advice. The CSLP program is practical, interesting, and prepares participants for tackling one of the greatest concerns that today's client has--what to do about those student loans.
The biggest issue facing many of my clients and prospects is the repayment of their student loans. Until I enrolled in the CSLP program, I did not possess the ability to educate and advise them on this topic. Now that I have completed the CSLP course and certification exam, I have the specialized knowledge required to help student loan borrowers choose the best repayment option for them. Perhaps more importantly, I now understand how the various repayment options fit into more comprehensive financial plans. I can’t wait to start marketing my expertise, as I believe this skillset gives me a huge advantage over most of my peers when it comes to attracting the next generation of financial planning clients. Given the complexity of the subject matter, I was impressed with the quality of the content. In particular, the case studies were incredibly useful. There is so much information to digest, but the case studies helped me piece everything together. Overall, I am very pleased with my decision to enroll in the CSLP course and earn the designation.
I just completed CSLA's Certified Student Loan Professional course. I am a CPA and CERTIFIED FINANCIAL PLANNER, but I did not have the knowledge to properly advise my clients with significant student loan debt. This course provided a great deal of valuable content including the various repayment plans, loan forgiveness programs, and tax issues that have helped me to properly address my client's concerns. I feel that anyone advising clients with significant student loan debt should take this course. - Patti Hughes, CFP®, CPA, MSA, CSLP
The CSLP courses give us the tools and in-depth education to provide clear and objective solutions to borrowers. Mastering this information gives us a competitive edge in, as Jeremy and Ben mentioned, a very competitive market. More importantly, this skill set empowers us to do good. Our purpose as financial advisors is to help our clients get to where they want to be. We simply cannot do that without helping them to tackle their biggest concern – their student loan debt.
The CSLP curriculum has given our clients and myself the confidence and certainty to build student loan repayment strategies, investment strategies, insurance strategies, and retirement planning strategies,
With the student material, the exam, resources, technologies, software, and support of the CSLA material and team, I feel confident that I will be a major resource to clients struggling with student loan debt. It is crazy to look back on the clients I was advising prior to this designation and recognizing how my investment and insurance recommendations actually impacted their loan repayment without me even knowing at the time!
Student loan repayment frequently creates severe financial stress to the borrower. Lower starting salaries and other financial demands can push borrowers to choose income-based repayment plans for reduced payments. Making the optimal choice can be confusing and uninformed choices may create long-term financial problems. Consulting with a financial professional who understands personal finance, investments, taxes, and the implications of each student loan program is essential. The CSLP program prepares advisors to work with clients who have student loans by providing the tools and resources to make recommendations based on sound financial and program rules.
Dealing with student loan debt is not as simple as ‘just live frugally and pay it off’
There is a growing demand for financial advisors to help clients who have student loans or for parents who are co-borrowers. It is unwise to consider student loans as just another debt. Clients with loans need comprehensive financial advice about how their loans integrate with their overall financial picture.
The market for professional student loan advising is substantial and underserved.
If you provide any type of financial service, it is important to understand the impact of student loans on your client. These clients face many options which can be complex and with significant financial risk. Providing accurate advice that is specifically relevant to your client is essential and ethically necessary.
Consumers need access to qualified financial professionals to assist with repayment planning and annual program reviews. The use of Income-Based Repayment plans requires periodic review and recertification to avoid unnecessary expense. Multiple IBR program choices also demand a detailed analysis based on the consumer’s financial information.
Consumers need financial advisors who can evaluate a borrower’s financial situation and future income projections to create an appropriate repayment plan. Borrowers can find it difficult to make the ideal choice because of the need to thoroughly analyze each program’s risks, rewards, and implications for their financial status.
Consumers need more help than the government’s website and calculations because it does not fully account for current and future changes in financial positions (family additions, income changes, marital status, business activities). Financial advisors are more qualified for this type of advice vs. loan servicer employees who are not permitted or qualified to provide financial advice.
For these reasons, the CSLP program was created to help financial advisors (CFP, CFA, Registered Investment Advisors, CPA, etc.) and other industry professionals understand the complexity of a student loan borrower’s challenges and provide a higher quality of direction when considering student loan repayment.
The CSLP courses are a robust training system to inform financial advisors how to identify, assist and incorporate student loan repayment into the financial plans of today’s graduates.
Receive an overview of the CSLP designation program for financial services professionals.