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5 Ways Financial Advisors Can Promote Their Education Planning Capabilities

From a parent’s perspective, there is zero clarity in college planning. 

They’re confused: recent studies show that nearly 25% of parents think the actual cost of college is about $5,000 a year. Seriously.

They’re in debt: 36% of parents tapped their child’s education funds to cover COVID-19 related expenses. 

They’re paying out-of-pocket: 70% of families are paying an average of $10,127 from their current income to cover the cost of just one year of college. 

If the majority of Americans worked with financial advisors, these statistics likely wouldn’t exist. 

It’s high time that these college-bound families know what you know. So whether you put this information in an email blast, in a social media post, or simply in a one-on-one conversation, these are four statements you can use to promote your education planning capabilities. 

1. “Want to know exactly what you’ll pay for college? Check this out.”

When getting a degree is seen as a moral obligation, families will spend whatever it takes.” Those are the words of Dr. Caitlin Zaloom in The New York Times, ahead of her forthcoming book, “Indebted: How Families Make College Work At Any Cost.”

Dr. Zaloom hits on a defining point: that college represents both social and economic promise for students. With it, the future is yours. Without it…well, you have no future. 

Therefore, students become wide-eyed at the prospect of attending certain colleges, and parents feel the pressure to actualize their childrens’ dreams. 

So they’ll sign for whatever number is on the tab and figure it out later. 

As Dr. Zaloom remarked, “It’s also no wonder that as so many of my interviews ended, parents joked about their financial predicament by saying they might win the lottery. They have come to see outlandish luck as their best chance of dealing with their predicament.”

At College Aid Pro™, we value facts over luck. 

Our tools can instantly show families what they would pay at each school on their shortlist. 

And it’s not a general number. It’s a dollar-specific calculation uniquely customized to the parents’ financial situation.

With CAP, you can take the guesswork out of college planning and provide the clarity that countless families are desperate to receive. 

2. “Want to see your student’s future earnings potential? No problem.”

The realists among us have long shouted, “you’ll never know the future, so don’t even bother!”

It turns out they were wrong (at least when it comes to college). With our tools, you can learn the facts and be future-focused.

In our Outcomes feature, families can see what their son or daughter will earn one, five, and even ten years after graduation. These numbers are specific to each students’ specific major and derived from surveys taken by each college’s alumni. 

Sure, this feature is definitely a bit of a “mic-drop” moment, but more importantly, it helps families look beyond the initial investment and confidently grasp the return on that investment. 

3. “Need to cover some funding gaps? Check out these scholarships.” 

Scholarships are a hugely valuable and highly coveted piece of the college puzzle. The problem is, they can often be difficult to find, largely because they’re dispersed all across the internet.

Scholarships may be a kind of “free” money, but if you don’t know where to find them (or how to apply), they might as well not exist. 

That’s why we’ve consolidated over 5,000 scholarships and grants with a total value of $10 billion. And we’ve done so in a way that allows your clients to actually get on College Aid Pro™, find the scholarships they like, and apply to them in one fell swoop. 

It’s the best way to cover funding gaps and protect families from paying out-of-pocket.

4. “Stuck choosing between two colleges? Here’s how to make the right call.”

Too often, families narrow down their list of top choices and then rush to choose the “name brand” college.

As a result, they take out a slew of high-interest loans without asking one key question: “are the outcomes of College X demonstrably better than College Y?” In other words, are the long-term rewards of the name brand college obviously superior to the lesser-known schools? And are they worth the heavier up-front costs?

As we discussed above, CAP can show you the outcomes of both schools. But more importantly, our tools can provide a full cost analysis of every school on your client’s shortlist, so families can compare and contrast all of the numbers at all of the colleges.

Therefore, they’ll be able to plainly notice that while the chic college costs 30% more to attend, it has an identical outcomes profile to the more humble university. 

And that’s the moment where parents can see past the marketing and hype and actually make the best investment decision for their family. 

After all, as an advisor, you’re not tasked with making the choice — you’re just responsible for providing the facts. At CAP, our tools give you access to essential metrics that all college-bound families deserve to know. 

Want to learn more? Click below to schedule a free demo with our team. 
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