About This Chapter
Education Financial Planning - Chapter Summary
This chapter centers around key considerations of financially planning for college. You'll learn about tips for surveying potential schools in a financial context while familiarizing yourself with related terminology and planning strategies. A full list of topics discussed includes:
- Methods of educational analysis
- Calculating the real cost of a college
- Education savings vehicles
- Requirements and sources of financial aid
- Gift and income tax methods of preparing for education costs
- Comparing major options of education financing
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1. Education Needs Analysis: Definition & Methods
In this lesson, we will review how Certified Financial Planners conduct an education needs analysis for a client by comparing the cost of attending a desired program with their ability to save, as well as explore options if the first plan fails.
2. Finding the Real Cost of College: Tips for Students
Many students think tuition is the only cost they need to worry about when calculating their college budget, but the cost of college goes beyond tuition. This lesson will help you learn to estimate your financial needs when planning your education.
3. Education Savings Vehicle: Definition, Pros & Cons
This lesson includes an overview of the various types of education savings accounts as well as the features, advantages, and disadvantages of each option.
4. What is Financial Aid? - Requirements & Sources
Financial aid is an important issue to understand when planning for college. This lesson will discuss what students need to qualify and apply for financial aid, as well as the different types of aid that may be available.
5. Planning for Education Costs: Gift & Income Tax Strategies
In this lesson, we will review some of the tools available to minimize income tax payments and avoid gift taxes while saving and paying for a college education.
6. Major Options for Education Financing
With the rising costs of schooling, planning for the expenses of an education and preparing financing options ahead of time is critical to ensure a student has the resources to attend college.
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Other chapters within the CFP Certification Exam Study Guide - Certified Financial Planner course
- CFP Board Rules & Regulations
- Financial Planner Professional Conduct & Regulation
- General Principles of Financial Planning
- Individual Insurance Planning
- Risk Management & Business Insurance Planning
- Types of Investment Vehicles
- Investment Planning
- Tax Planning
- Retirement Savings & Income Planning for Individuals
- Retirement Savings & Income Planning for Businesses
- Estate Planning Strategies
- Financial Planning for Personal Life Situations
- CFP Client Relationship
- CFP Certification Exam Study Guide - Certified Financial Planner Flashcards