The CSLP program is an online course and specialty certification for financial advisors who want to make sure they are providing clients with accurate and relevant advice about their student loans. They want to understand how to incorporate this advice as a part of a holistic financial plan.
The program contains over 45 presentations, resources, and comprehension checks to help you become proficient in the advising of clients with student debt.
Yes, but you should gain approval from your broker. If you are a registered representative it is best to check with your compliance department before promoting yourself as a CSLP. Many firms are encouraging their representatives to take the course because of the number of student loan borrowers and their need for student loan advice, but not all firms have approved the CSLP for marketing.
Also, you may only promote yourself as a CSLP when you have completed the required coursework and successfully passed the exam.
The time it takes to complete the material, review, study, and pass the exam depends upon how much you invest. Many people complete it after 4-6 weeks of 8-10 hours a week. Some complete faster and others take longer. It depends upon your commitment.
CE Credits are optional. You can obtain 12 credits depending upon your location and licensing. (CFP, CPA)
We are continuing to add relevant topics to help you enhance your knowledge and advising practice.
The program will help you to provide accurate advice to clients about the ways they manage student loan repayment. As a fiduciary, you must account for how to address this debt instead of ignoring it. Student loan debt is not the same as mortgage, cars, or credit card debt. The CSLP program will help you understand how to help clients create appropriate repayment choices that fit within their larger financial goals. This knowledge will also provide a marketable skill to address the 1 in 4 households repaying student loans.
If you are a financial professional working with consumers, this program provides critical information for your present and future clients who have student loans. Over 43 million consumers are already in repayment and more entering the pipeline.
The program is for financial professionals who advise clients in areas of investment, planning, insurance, and tax. Participants must have at least 2 years of experience working in the financial service industry with designations such as CFP, CPA, EA, or RIA OR a bachelor’s degree in business or finance.
If you do not meet these qualifications, a certificate program is available.
The exam can be taken after all of the course material has been reviewed. Once complete, a notification will be sent via email with exam instructions. The exam consists of 90 multiple-choice questions. There is a 2-hour time limit. The exam is administered online and monitored by a remote electronic proctoring company.
70%. If you do not pass, you may retake the exam for a fee after a 1 week wait time.
The course and certification exam are designed to be completed in 6 months or less. Your CSLP is renewable annually and this will allow continued access to all of the content. The sooner you complete the exam, you will be able to promote your practice and service clients with student loans.