LoanBuddy posted in Blog @ January 6, 2020

Learn How To Advise Clients on Student Loans in Just a Few Hours

The Student Loan Practice, a course of comprehensive educational materials, helps advisors implement student loan repayment planning into their practice.

Developed by Ryan Galiotto, CFP at Fields Financial Services in Hopwood, PA and Founder of The Student Loan Practice, who was recently featured in the Journal of Financial Planning. This resource includes 62 invaluable lessons so advisors can master the fundamentals of student loans. 

What is The Student Loan Practice?

About 45 million Americans currently struggle with student loan debt, which affects their lives and their balance sheets. Because this student debt epidemic impacts a third of American workers, financial advisors are beginning to comprehend the importance of helping graduates pay off their debt as efficiently as possible.

Since student loans are incredibly complex, advisors have struggled to find a starting point to learn more about student loans. Effectively sourcing relevant information is challenging, and implementing student loan repayment planning into their practices is expensive and time-consuming. Fortunately, The Student Loan Practice has developed a new methodology to simplify this daunting process.

The Student Loan Practice aims to deliver a “fast track” approach to advising clients on their student loans and offers a course of 62 lessons that cover a wide range of topics that include:

Section 1:     The Basics of Student Loans

Section 2:    The Student Loan Planning Process

Section 3:    Successfully Integrating SLP in To Your Practice 

Bonus:         Navigating LoanBuddy

The entire course can be completed in only 3-4 hours, so advisors can learn essential information quickly instead of spending countless hours researching online.

How can The Student Loan Practice help advisors grow their practice?

The majority of advisors who take initiative to incorporate student debt repayment planning into their practice are overwhelmingly younger, innovative, and ambitious. These advisors seek to grow their practice by attracting high net worth clients who battle with student loans. 

The Student Loan Practice provides the indispensable resources needed to start the conversations, understand student loans, and successfully manage the student debt for HENRYs (High Earners but Not Rich Yet) with recently completed post graduate degrees.

“I wanted to create a resource that was built entirely with the financial advisor in mind. So, this course was created to give advisors all the tools they need to quickly start working with student loan borrowers without causing disruption to their current service models,” Ryan Galiotto, Founder of The Student Loan Practice, said.

The arduous task of generating conversations with these prospective clients is straightforward when advisors are equipped with the knowledge of student loans. And for Advisors looking to work with more clients with student debt we suggest utilizing the LoanBuddy Find An Advisor feature, which routes new potential clients directly to an advisor in the LoanBuddy dashboard. 

Integration with LoanBuddy

The Student Loan Practice provides a bonus course to teach advisors how to implement LoanBuddy. LoanBuddy is the leading solution for financial advisors working with client student debt and a great way to save time generating calculations for the student loan lifecycle with pro forma income and household size scenarios. 

“Since LoanBuddy launched in mid-2018, we have worked with hundreds of Advisors who have faced the dual challenge of desiring to help more clients and simultaneously absorbing the education to deliver a value added offering at their firm. Some advisors lack the confidence or current client demographics to focus on student loan planning. With The Student Loan Practice lessons, an advisor can simply begin with a methodology to quickly ramp up their capabilities and that will help them to add more individuals with student loan debt. We are proud to have our advisor-focused technology incorporated in these lessons. Pairing The Student Loan Practice with our LoanBuddy tools is a powerful combination for an advisor,” Alex Bottom, Co-Founder of LoanBuddy, said. 

Other Student Loan Practice Benefits

The Student Loan Practice incorporates lessons about Public Service Loan Forgiveness (PSLF) a way for qualifying individuals who work within the government, in the armed forces, first responders, in public education or at nonprofit organizations to reduce their repayment timeline to 10 years. The Student Loan Practice lessons cover what PSLF is, how to start the PSLF process, and how to identify and advise clients who may be eligible. 

Cost for The Student Loan Practice

Advisors can access all 62 lessons in The Student Loan Practice for a one-time payment of only $249. To learn more about The Student Loan Practice’s founder, Ryan Galiotto, view his feature in the January issue of the Journal of Financial Planning or The Student Loan Practice website. 

LoanBuddy Courses

In addition to providing a unique, easy-to-use software for student loan management, LoanBuddy also offers five educational courses at a cost of $99 each or $399 for all five videos. Completion of these courses count towards CFP Board and AFCPE continuing education credits.

LoanBuddy and The Student Loan Practice courses are independent but have the same outcome in mind, delivering quality information to advisors. The Student Loan Practice condenses information advisors need, saving time — a methodology that LoanBuddy supports.

The Student Loan Practice, a course of comprehensive educational materials, helps advisors implement student loan repayment planning into their practice.

Developed by Ryan Galiotto, CFP at Fields Financial Services in Hopwood, PA and Founder of The Student Loan Practice, who was recently featured in the Journal of Financial Planning. This resource includes 62 invaluable lessons so advisors can master the fundamentals of student loans. 

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