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CSLP Course Modules

Debt and Borrowing For Education

This CSLP module provides the student loan advisor a basis in the problem of student debt as it is affecting many of his or her clients.

The modules explains how the size of debt and borrowing for higher education in the U.S. has grown and provides a current and historical perspective on the types of debt used to finance undergraduate and graduate programs. Other areas discussed include:

  • private and federal programs
  • costs of borrowing
  • federal protections
  • the private loan market
  • secured and unsecured debt
  • student loan planning and KEY facts

Analysis of the current problem

This CSLP module shows how the increasing costs of higher education and the student debt effect on the U.S. economy. A review of the scope of debt across demographics and how it is impacting all areas of consumer financial well-being.

  • Consumer default rates
  • The loss of school funding
  • Declining wages of graduates
  • Home ownership and student loan debt
  • Professionals with student debt in health, law, and business

The essential features of student loan borrowing

The financial elements of student loan debt and how it varies from conventional debt such as revolving and mortgage financing.

  • PxRxT = I
  • Simple interest
  • Student loan debt amortization
  • Calculators
  • Current federal interest rates and fees

Review of student loan types and why it matters

There are many types of loans available in the federal market. Over the years, programs have evolved with some being discontinued and new ones being added. Just because a loan program may have been discontinued doesn’t mean you won’t have a client who is still paying on one. In this program you’ll always be able to reference material about past programs if needed.

Time based repayment plans

Traditionally, debt is paid over a specific period of time. In this module, we review Federal time-based repayment plan. We also provide a brief on the repayment estimator.

Income-driven repayment plans

Potentially one of the most complex and confusing areas where you can provide immense value helping your clients. This module will cover the variety of past and current IDR plans. Also:

  • specific methods for handling IDR for married couples
  • a review of the VIN student loan repayment simulator
  • coverage of the IDR plan request form

Public Service Loan Forgiveness

Public service loan forgivesness (PSLF) programs are available to many student loan borrowers. Like other programs, there are variations in programs and their associated rules for qualification and successful completion. This module will cover this subject extensively and walk through the application and certification process.

Student loan consolidations and refinancing

This module is critical in helping your client make key decisions around changing the terms of their loans. It’s also helpful to understand how to inform your client as there are many misunderstandings about when to consolidate and refinance. There is also quite a bit of misinformation that could cost individuals substantial money.

This module will review how to help your client make the best financial decision around a refinance or consolidation.

Student loan advising foundations

The student loan advising foundations course is essential to the success in your work with clients. You will learn about the basics of student loan repayment programs and their relevance to your clients.

CSLP Financial Advisor Training

Student loan program analysis

This CSLP module begins the advising journey by understanding the process of uncovering all the details about a client’s loans (terms, costs, rates, program rules, and current status).

CSLP Program and Seminars

The advising process

Introducing the student loan advising process. A review of the client facing documents and instructions; the magic spreadsheet; and why the credit report is helpful.

Inventory of Federal loans

The process of determining an accurate, comprehensive review of all of the client’s federal loans, apart private loans.

Private loan inventory

Private loans don’t have the same benefits but they are important to assess in the overall financial review/planning process.

Statutory loan discharge

Learn how some federal loans may be discharged under specific conditions. How to determine if your client qualifies and the steps to take.

Student loan defaults

Understand the impact of student loan defaults and their consequences on a borrower’s finances. Learn the methods to cure the default.

Bankruptcy and Student Loans

The process of discharging student loans in a bankruptcy proceeding is difficult but possible. Learn the procedures and qualification requirements.

Minimizing interest accural

For clients who do not qualify for loan discharge or forgiveness, learn how to minimize interest accrual.

Applied advanced income-driven repayment

Each IDR plan varies in complexities including eligibility, tradeoffs, and costs. Learn how to determine the suitability for your client.  The module also covers:

  • the Income-Contigent Repayment plan
  • ICR income percentage factors
  • the VIN student loan simulator
  • poverty guidelines

Applied advanced double consolidation

Learn about the “Double Consolidation” loophole and the current proposals to close it.

Tax considerations: Credits, deductions, & taxation

Overview of tax considerations affecting various types of student loan repayments. Recommendations on how to advise clients relative to their situation and future goals.  The presentation is supplemented by resource documents and web links.

Tax considerations for clients in community property states

Variables for income driven repayment programs and borrowers, couples both with student debt or without, and how they are affected by community property status.

Tax considerations - The Tax cuts and jobs act

Understand the impact on student loan repayment from the 2019 tax legislation.

Student loans and home purchases

Contrary to popular belief, it is possible to help borrowers qualify for a mortgage. This module explains how student loans affect credit and procedures to improve the chances of loan qualification.

Employee student loan benefit programs

Understanding strategies used by companies to provide student loan repayment benefits. Advisors can learn how to help companies create programs that benefit both the company and student loan borrower through specialty benefit programs.

IDR and Direct consolidation forms

How to properly complete the Federal IDR consolidation forms.

Financial planning and Student Debt - Retirement

Understand the mechanics of pre-tax contributions, tax filing status, and IDR along with strategies for advising. This modules includes a supplemental reading list and related web links.

Financial planning and student debt - insurance

Insurance can play a pivotal part in the overall financial strategy. Learn how to mitigate some of the risk associated with student loans through the use of insurance products.

Financial planning and student debt - Business entities

This module covers the challenges student debt holders face when starting a business. It addresses the business entities and their effect on student loan repayment and approaches to structuring an optimal strategy.

Best practices for working with loan servicers

Inevitably your clients will have to work with their loan servicer(s) to resolve problems or make changes. You can play a pivotal role in educating your client or, if you choose, to work on their behalf. This module provides methods of working with student loan servicers.

Student loan advising & financial planning

The modules in this course cover specific issues relating to legislation, planning using insurance, business entities, and multiple tax considerations your clients will encounter.

CSLP student loan advisor

Student loan advising case studies

The final course consists of examples of advising sessions using fictitious cases. These modules provide detailed walk-throughs much as you would conduct with clients. You’ll review the present situation, goals, conduct analysis, and make recommendations.

CSLP Program from CSLA

Professional Specific - Advising Dentists

How to advise clients with student loans who are dentists. Learn the best approach to advising dentists on how to structure repayment as part of their business and overall financial strategy.

Professional Specific - Advising Attorneys

Advising procedures and recommendations when working with attorneys who are repaying student loans.

Professional Specific - Advising Nurses

Advising procedures and recommendations when working with nurses who are repaying student loans.

Professional Specific - Advising Medical Doctors

Advising procedures and recommendations when working with MD who are repaying student loans.

Professional Specific - Advising Teachers

Advising procedures and recommendations when working with Teachers who are repaying student loans.

Case Study - Sarah

The case studies help you with the application of the material covered in the preceeding sections. After completion of the case studies, you should be able to critically compare and analyze repayment optionis while applyiing financial planning strategies to real life examples.

Client Sarah Profile

  • Single, Age 25
  • New Mexico resident
  • DVM working as a veterinarian
  • No tax returns filed while in school
  • Current income: 85k
    • Began work 6/1/2019
    • Anticipates 3%/yearly increases
    • Small production bnuses
    • Income cap ~150k
  • Benefits:
    • 401k eligible w/3% match
    • Section 125 benefits
    • No long term disability coverage
  • Goals and Concerns
    • travel, pay off 12k debt, marriage, home, retirement
    • concerns about repaying debt on current income and future home purchase

Case Study - Jackson

The case studies help you with the application of the material covered in the preceeding sections. After completion of the case studies, you should be able to critically compare and analyze repayment optionis while applyiing financial planning strategies to real life examples.

Client Jackson Profile

  • Married, Age 32
  • Iowa resident
  • Teacher w/Masters Degree in Education
  • Files taxes married joint
  • 2 children
  • Current income: 43k
    • Wife income: 65k
    • He anticipates 3%/yearly increases
    • Income cap ~63k
  • Student debt:
    • Pays $474/month in graduated income plan
  • Goals and Concerns
    • Home purchases, college planning, retirement
    • Limited ability to save more for goals

Case Study - Casillas family

The case studies help you with the application of the material covered in the preceeding sections. After completion of the case studies, you should be able to critically compare and analyze repayment optionis while applyiing financial planning strategies to real life examples.

Client Jose & Sophia Casillas Profile

  • Jose: 29; Sophia: 27
  • CA residents
  • Jose: DDS at Dept Corrections
  • Sophia: MD GP. Resident medical director
  • Income: 180k & 55k
  • 1 child age 3
  • Student debt:
    • Jose: $4,977 in 10 yr loan; Sophia in forbearance (med residency)
  • Goals and Concerns
    • start own practices
    • student loan debt is extensive

Case Study - Lin

The case studies help you with the application of the material covered in the preceeding sections. After completion of the case studies, you should be able to critically compare and analyze repayment optionis while applyiing financial planning strategies to real life examples.

Client Lin Profile

  • Single, Age 24
  • AL resident
  • Masters in Nursing. Job is lead nurse
  • Income: 64k
  • Anticipates 3%/yr increase
  • 403b eligible
  • Employer student loan plan of 5k/yr
  • Student debt:
    • $1,136/month in 10 yr loan
  • Goals and Concerns
    • Delinquent 2 months
    • payment challenges
    • wants own apartment, buy home, family, retirement planning

Case Study - Daniel

The case studies help you with the application of the material covered in the preceeding sections. After completion of the case studies, you should be able to critically compare and analyze repayment optionis while applyiing financial planning strategies to real life examples.

Client Dan Profile

  • Married, Age 55
  • OH resident
  • Business owner with 30 employees
  • 3 children (21, 24, 28) Parent plus loans
  • Income: 120k Salary + K1 income: 30-90k
  • Wife income: 55k bookkeeping
  • Loans in deferment, forbearance & extended
  • Goals and Concerns
    • retirement 8 yrs, paying off debt, pay off home (5 yr left)
    • concerned about ability to stop working as planned

Case Study - Jimmy

How to create a repayment strategy with 7 student loans at nearly 100k balance?

All of Jimmy’s loans are Federal with a mix of subsidized and unsubsidized debt ranging from 4.5% to 7.9%. What is the best strategy for restructuring this student loan repayment?

Client Jimmy Profile

  • Single, Age 27
  • MA resident
  • MBA, Account manager
  • Income: 55k anticipates 3% annual increases
  • 401k w/3% match
  • Loans in deferment
  • Goals and Concerns
    • marriage, find higher paying job, home purchase, own business
    • concerned about afford marrage and other goals in current situation

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