Student Loan Repayment Essentials
Topic
General Principles of Financial Planning
Program ID
301642
Hours
7
Format
Self-Study / Traditional course (50+minutes)
Complexity
Intermediate
Description
As student debt continues to increase, the demand for student loan repayment will become more important for attracting and retaining clients. Of the 45 million people who have student debt only about half are actually in repayment. With more legislation being added to help people solve this growing financial crisis, financial advisors have a great opportunity to provide the proper advice with customized student loan repayment answers that impact families' financial future. This program will explain the various federal loan repayment options both fixed, variable, and Income-Driven Methods (IBR, PAYE, REPAYE, and ICR). Learn an approach to analyze a borrower's repayment options for both the short-term and long term. The course will explain the advantages of the federal repayment methods, federal consolidation, and private refinancing options. This program is part of the two FINRA listed designation
Learning Objectives
Attendees will learn how to create the proper strategies for student loan repayment options based on student debt structure, personal tax options, employment, benefits, and forgiveness. It will explain the following topics: Fixed and Income-Driven Repayment methods, Tax filing strategies, Proper use of employee benefits, Negative amortization risk, Loan data sources, Student Loan Assistance Benefit, Consolidation, Refinancing, Secure Act 2.0, Parent PLUS loan repayment strategies and business implementation.