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3 Ways to Excel at College Planning Overnight

middle-aged white couple and their son planning for college with an advisor

We have good news – and more good news.

Here’s the first part: college planning is a goldmine for financial advisors. It’s a primary gateway to increasing assets under management through trusted, multi-generational relationships.

Here’s the second part: most advisors don’t offer college planning in their suite of services. Some don’t recognize the financial opportunity; others feel unprepared to help parents prepare for one of life’s biggest investments. 

If you’re in that camp, it’s not your fault. College planning is among the most neglected areas of financial planning. Even the most prestigious certifications treat college planning like a footnote amid the larger constellation of financial matters.

We’re here to fix that today with these 3 Ways to Excel at College Planning Overnight: 

1. Know The Facts

College is rapidly getting more expensive, and student loan debt is currently topping $1.7 trillion

Knowledge is power. If you’re considering adding college planning to your financial services suite, these are the facts you need to know:

  • College planning isn’t merely a part of the modern family’s financial picture. It’s their #1 financial concern. According to Gallup, a whopping 73 percent of parents with kids under 18 are “moderately or very worried” about paying for college. 
  • In view of these egregious costs, who can blame parents for their ensuing panic? The average annual price-tag of sending a child to a private college is $54,880. Even in-state, public colleges average $26,820 per year. If you send a child to a prestigious university, you could be looking at an investment in excess of $300,000. 
  • Despite a temporary, pandemic-induced decline in 2020-2021, the National Center for Education Statistics predicts an overall increase in enrollment by 2028. College will continue to be a fixture of American life.  
  • Over the next quarter century, the “Great Wealth Transfer” will pass on $68 trillion to different generations, including Gen X (those born between 1965-1979 — i.e. the parents of the next decade’s college-bound kids). 

All of these facts tell the same story: while college grows more expensive, the vast majority of parents are growing more worried about how to pay for it. 

They need help. They need you. 

2. Invest In Technology

As an advisor, your time is limited. And while you may not have the bandwidth to become a college planning specialist, you can invest in technology to help you make an impact.

College Aid Pro™ is the solution to serving college-bound families in an efficient and profitable way. 

Here’s a snapshot of our software’s major benefits:

  • Comprehensive Analysis: Gone are the days of spending hours manually comparing a handful of schools. With College Aid Pro™, you can automatically calculate Expected Family Contributions (EFCs), access merit-based scholarship details, and run advanced net-cost comparisons of over 2,400 schools around the U.S – all in a matter of minutes. 
  • Future Focused: Where other companies only look at the near term, we handle our projections on a four-year basis. Our software not only provides a detailed look at your clients’ Cost of Attendance (COA) (while demonstrating how to pay for it) — it also generates anticipated repayment plan information.
  • Client-Centered: With the College Aid Pro™ Family Portal, clients can get involved in the process on their own. As a self-service marketplace, the Family Portal gives clients the ability to see which schools offer the most free money while aggregating their top choices and providing “How to Pay” strategies. 

College Aid Pro™ is the gateway to offering elite college planning solutions. But how do you actually attract and retain college-bound clients?

That’s where The College Money Report comes into play. This proprietary lead acquisition tool plugs directly into your website and affirms your advisory firm as an industry leader in college planning. 

Here’s how it works:

1) A Brief FAQ: The parents first enter high-level info like their top schools, their gross earnings, and their household size. 

2) The Custom Report: Based on the information provided, we then send your prospect a tailored report right to their email. This report answers pressing questions including, 

  • How much do colleges think I can afford? 
  • Will I qualify for grants and scholarships? 
  • How much will I have to pay out of pocket?”

3) Ongoing Lead Generation: While your prospects read the report, we collect their contact information on your website to help grow your email list. 

Between College Aid Pro™ and The College Money Report, you position yourself as an expert in the education planning field. 

3.  Get Coaching (& Join Your Community)

You don’t have to go it alone. At College Aid Pro™, our community of advisors will give you the guidance you need to confidently support your clients. 

Our braintrust includes bi-weekly round table webinars, active user forums, and ongoing support from our team. 

Want us to be hands-off? We can do that too. 

But know that College Aid Pro™ is much more than a piece of software. It’s an all-encompassing commitment to ensuring your firm excels at college planning the way you excel at everything else. 

Whenever you have questions, you’ll have a battle-hardened team of veterans ready to back you up with answers. 

Ready to learn more? Click below to sign up for a demo. 

Let’s Go!

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