Financial Pros Help Families Budget for Soaring College Costs

The cost of a college education has grown significantly in the past two decades. And with rising inflation taking its toll across every aspect of our economy, the trend shows no sign of stopping soon.

If you’re wondering how you can afford to send your children to college, it may be wise to consider financial resources and financial advisors that could help you.

When hiring a financial advisor, you’ll want to ensure that the one you choose is the best fit for your family and has the necessary designations to help you make the best financial choices. Here are some qualifications to look for in potential college financial advisors.

CCFC (Certified College Financial Consultant)

Many financial planners assist students after they have already incurred student loan debt, but CCFCs focus on supporting students before, during, and after college planning.

The CSLP program is the only professional training program that focuses exclusively on student loan management in financial planning. You can rest assured that you’re in good hands with a CSLP, as FINRA recognizes the designation.

CSLP (Certified Student Loan Professional)

CFSLA (College Funding and Student Loan Advisor)

The CFSLA program teaches financial advisors about college funding and the financial aid process. Therefore, financial advisors with this designation know how to save for college and adequately develop a college funding strategy.

College is costly. Long gone are the days when almost everyone could afford to graduate from post-secondary education debt-free. Student loan debt is widespread these days, and the situation is not getting better soon.

Knowing which financial advisors and resources you can turn to can help you better plan for college and improve your finances in the long run.

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