What is the National Institute of Certified College Planners (NICCP)?
The National Institute of Certified College Planners is the governing body which promotes the Certified College Planning Specialist designation program. The NICCPs mission is to educate and provide ongoing support and assistance to those practitioners who are truly committed to ethical standards and continuous professional education in the college financial planning marketplace.
What is a Certified College Planning Specialist (CCPS)?
A Certified College Planning Specialist is a financial professional who has demonstrated the skills necessary to assist families in preparing for the financial cost of sending children to college. The CCPS is trained to identify the most economically advantageous methods to save and pay for college.
Each applicant must meet one of the following requirements to enter the CCPS certification program.
Professional certification/designation (CFP, RFC, ChFC, CLU, CEP, CPA, etc.), or
Professional financial licensing (securities, insurance, any state financial license, etc.), or
A combination of education and experience deemed satisfactory by the NICCP Advisory Council
Who Needs A Certified College Planning Specialist?
Approximately 13 million families could use the help of a CCPS.
Consider these facts:
The average yearly cost of a public university is $16,000
The average yearly cost of a private college is $32,000
The average yearly cost of an elite private college is $48,000
These college costs are generally paid for with after-tax dollars, which means that the IRS gets their percentage before the college gets their tuition payment. In the 28% tax bracket you must actually earn $18,655 to pay the public university $12,500. Remember that this is ONE years cost for ONE child.
What is the CCPS Designation?
The Certified College Planner Specialist (CCPS) is a professional designation focused exclusively on college financial planning and is awarded to those financial advisors who can meet the high standards of education, experience, and professionalism that are required of all its members.
How do CCPS designees demonstrate their professional capabilities?
Each CCPS designee is required to satisfy the rigorous requirements of the comprehensive CCPS examination, which covers a wide range of relevant subject matter encompassing the following modules:
I. Paying for College
Financial aid overview
Student resources, grants, scholarships
Work-study
College loans
Alternative loans
College admission issues
Advanced financial aid topics (EFC worksheet, Federal vs. Institutional Formulas, etc.)
II. Saving for College
Section 529 qualified tuition programs
Coverdell education savings accounts
UGMA/UTMA
Roth and traditional IRAs
Savings bonds
Life insurance
Tax efficient mutual funds
Real estate
Associated financial planning considerations
III. Advanced College Funding Strategies
Academic strategies
Hope and Lifetime Learning Credits
Parent and child tax planning opportunities, implications, and tax capacity
Coordinating investment contributions and withdrawals
Cash flow & creative borrowing strategies
Funding college and retirement at the same time
Parent and grandparent estate planning considerations
Middle and upper income family issues
Affluent family issues
Are there CCPS Continuing Education Requirements?
Each Certified College Planning Specialist will be required to complete 24 hours of professional continuing education requirements each year to maintain their designation in good standing. This includes academic coursework, educational symposiums, distance-learning programs, and practitioner conferences.
How does the NICCP maintain and disclose the ongoing credibility of its members?
The National Institute of Certified College Planners lists the names of each CCPS designee on the NICCP website. The NICCP will also remove the designation from anyone who fails to maintain proficiency through minimum continuing education, or who betrays the public trust by failing to live up to its Code of Ethics, or by having a professional license revoked or suspended for misconduct or any reason.
