Parents can save on the cost of a college education by being an informed buyer and working with a qualified college financial planning specialist. Steve Stanganelli, CFP(R) of Clear View Wealth Advisors outlines the value of the College Cash Pro services he offers.
Presentation for College Cash Pro: Value of a College Financial Planner
1. Steve Stanganelli, CFP®
Save ON the Cost of College …
Not Just FOR College
The More You Plan, The Less You Pay … for College
2. A Brief Introduction
Steve Stanganelli, CFP®
CERTIFIED FINANCIAL PLANNER™ Professional
Registered Financial Advisor (NAPFA)
Advanced Training as College Advisor
Principal, Clear View Wealth Advisors, LLC &
College Cash Pro
Assisting Local Families since 1999
www.CollegeCashPro.com / 978-388-0020
12. Action Plan for Middle-America:
Financial Aid Client
$100,000+ in free-money and tax savings including:
•Contribute $3,000/year to Cafeteria 125 plan for tax benefits:
worth $1,000/year
•Converting UGMA to 529 Plan: worth $1,500/year
•Liquidate and Transfer under-performing stock to 529 plan:
worth $1,000/year
•Reallocate $90k savings into non-assessable assets:
worth $5,000+/year
•SAT Test Prep increases score and secures scholarship:
worth $7,000/year
•Reallocate $500/month college savings to 401k: worth $2,000/year
•Grandparent $10,000/yr gifting strategy: worth $7,000+/year
•Education tax credits: worth $2,500/year
•College Care Center Premier Service: Other College Leverage Tips:
Scholarship & loan strategies, college search, appeals: $3,000+/year
13. BEFORE
•Single Mom,
• Self-employed,
• Divorced,
• One-child (HS
Sophomore)
• Hampshire College
(estimated cost $60,200)
• Expected Family
Contribution = $27,000
Sample Case
AFTER
•Identified 4 merit-
based scholarships
•Identified Income
and Asset Strategies
•Lowered EFC to
$19,000
14. BEFORE
•Grandparents
• Guardians of grand-
daughter in HS
• Concerned about costs
and impact on
retirement
• UVA, Northwestern,
UNC – Chapel Hill
(estimated cost $17,000
to $70,000)
• Expected Family
Contribution = ????
Sample Case
AFTER
•Identified private
scholarships
•Completed
preliminary FAFSA
and CS/Profile
•Automatic ZERO
EFC
•Increased 401(k)
retirement savings
15. BEFORE
•Hi-Tech CEO
• Daughter attending
college and 2nd
daughter
in HS
• Concerned about costs
and impact on
retirement
• Emory University (cost
$60,000+)
• Expected Family
Contribution = > $40,000
Sample Case
AFTER
•Identified
scholarships
•Assisted with PLUS
loan
•Implemented PLUS
Strategy to defer
payments 10 years
until company
‘liquidity event’
16. BEFORE
•Raytheon Engineer + Self-
employed spouse
• 2 Kids – one starting HS
and one in elementary
• Concerned about costs
and impact on
retirement
• UMass – Amherst one
option (cost $27,000+)
• Expected Family
Contribution = > $62,000
Sample Case
AFTER
•Identified
scholarships
•Income Shifting
•Asset Positioning
•“Tax Scholarships”
for business owner
•Projected EFC =
$17,000
17. BEFORE
•Self-Employed Business
Owner with comm. Property:
• 1 son starting college
after daughter finished
law school
• Concerned about costs
and impact on
retirement
• Colby (cost $54,000+)
• Expected Family
Contribution = > $64,000
Sample Case
AFTER
•Identified
scholarships
•“Tax Scholarships”
for business owner
• Hire son:
Income Shifting
• Set up FLP
• Start solo 401k
•Asset Positioning
•Home refi to 529
•Kiddie Condo
18. Value of a College
Financial Plan
Return on Investment > Fee
<$1 per day – FAFSA
$1.40 per day - Consult
$4 per day – Gold
$9 per day – Premier Service
19. Who Do I Work With?
Grandparents
Growing Families
•Category 1: Financial Aid Likely
•Category 2: Stuck-in-the-Middle
•Category 3: No Needs Based Aid
No Geographic Limitation but Generally Newburyport to Burlington
20. Who Do I Work With?
Medical Professionals: Doctors,
Dentists, Nurses, Chiropractors
Business Owners, Managers,
Directors in Hi Tech, Software,
Manufacturing, Consulting
Investment Property Owners
21. Identifying My Ideal Client or Referral Source:
Memory Joggers:
Who do you know who …
• Works in Company Located Along 495 / 95
• May be going through a Divorce
• Owns Rental Property and Has Kids (> Age 5)
• Has kids attending High School, Junior High or Elementary
School (ideal if at least 3 years until college)
Phrases to Listen For Individual Services:
“College is so expensive. How will we pay for it?”
“My kid’s thinking of attending XXX College.”
22. Ideal Sponsors for
Workshops
• Guidance Counselors – Private Schools
• PTA/PTO Groups
• Service Groups – Kiwanis, Rotary, Lions
• Youth Sports
• Churches, Synagogues, Temples
• HR Departments
Opportunity for Fundraiser for Group
23. Referral Tips
• Linked In
–Introduction to Contacts
• Facebook
–Like “College Cash Pro”
–Share posts through your Timeline
24. Q&A
• #1 Consideration for College Bound
Students?
– Too Many to List
– Focus on Grades
– Line Up References / Network
– Do Self-Assessment to Match College Major with
School
25. Q&A
• Pros & Cons of 529 Savings Plans?
– Con: Limited Investment Choices
– Pro: Tax-Free Accumulation & Distribution
– Impact is only 5.64% of Parent Contribution
– Better to Own in Name of Grandparent and
Disburse AFTER last FAFSA Filed
26. Q&A
• Best Options to Refinance or Consolidate
Student Loans?
– Default is 10-Year Repayment
– Options depend on TYPE of loans and STATUS
– Government Loans More Flexible
– Check www.NSLDS.ED.gov for status
– http://loanconsolidation.ed.gov/
– Income-based and Pay As You Earn options
(federal only)
27. Q&A
• Annuities vs Insurance?
– Depends
– Everyone NEEDS insurance
– Not a countable asset
– Consider costs and time
28. NEXT STEPS & SPECIAL OFFERS
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Hinweis der Redaktion
The PPT needs to be branded for your business!
To do so, you’ll want to:
Replace the generic ABC Company banner with yours
Update the footer with your company name
Swap in your company name for &lt;Name/Company&gt; in the slide
In order to brand the PPT, you’ll do so in the “Slide Master”:
Click “View” option and select “Slide Master”
Replace the generic header and footer with your branded version
When complete – SAVE the PPT
To return to Normal view, Click “View” and select Normal
Any questions, call CFS at 919 469-1996
The PPT needs to be branded for your business!
To do so, you’ll want to:
Replace the generic ABC Company banner with yours
Update the footer with your company name
Swap in your company name for &lt;Name/Company&gt; in the slide
In order to brand the PPT, you’ll do so in the “Slide Master”:
Click “View” option and select “Slide Master”
Replace the generic header and footer with your branded version
When complete – SAVE the PPT
To return to Normal view, Click “View” and select Normal
Any questions, call CFS at 919 469-1996
The PPT needs to be branded for your business!
To do so, you’ll want to:
Replace the generic ABC Company banner with yours
Update the footer with your company name
Swap in your company name for &lt;Name/Company&gt; in the slide
In order to brand the PPT, you’ll do so in the “Slide Master”:
Click “View” option and select “Slide Master”
Replace the generic header and footer with your branded version
When complete – SAVE the PPT
To return to Normal view, Click “View” and select Normal
Any questions, call CFS at 919 469-1996
The PPT needs to be branded for your business!
To do so, you’ll want to:
Replace the generic ABC Company banner with yours
Update the footer with your company name
Swap in your company name for &lt;Name/Company&gt; in the slide
In order to brand the PPT, you’ll do so in the “Slide Master”:
Click “View” option and select “Slide Master”
Replace the generic header and footer with your branded version
When complete – SAVE the PPT
To return to Normal view, Click “View” and select Normal
Any questions, call CFS at 919 469-1996
The PPT needs to be branded for your business!
To do so, you’ll want to:
Replace the generic ABC Company banner with yours
Update the footer with your company name
Swap in your company name for &lt;Name/Company&gt; in the slide
In order to brand the PPT, you’ll do so in the “Slide Master”:
Click “View” option and select “Slide Master”
Replace the generic header and footer with your branded version
When complete – SAVE the PPT
To return to Normal view, Click “View” and select Normal
Any questions, call CFS at 919 469-1996
The PPT needs to be branded for your business!
To do so, you’ll want to:
Replace the generic ABC Company banner with yours
Update the footer with your company name
Swap in your company name for &lt;Name/Company&gt; in the slide
In order to brand the PPT, you’ll do so in the “Slide Master”:
Click “View” option and select “Slide Master”
Replace the generic header and footer with your branded version
When complete – SAVE the PPT
To return to Normal view, Click “View” and select Normal
Any questions, call CFS at 919 469-1996