College Planning
Sending a child off to college can be an exciting, emotional and often a financially nerve-racking time.
For many families, paying for college is the largest financial decision that they will make with little or no support. With other large purchases, like buying a house, a realtor and the bank will work with you to figure out what you can really afford.
At Breakwater Capital, we aim to be a financial partner who is with you through each stage of the college financing process.
What is a CFSLA?
The CFSLA(College Funding and Student Loan Advisor) designation is focused on three main areas as it relates to financing higher education:
- How much to save and what types of accounts to use?
- How do we best maximize accumulated savings, scholarships, grants and loans together to pay during the college years?
- How do you evaluate all student loan, repayment and forgiveness options after college?
We will work with you through each phase of the college planning experience:
Before College
Review savings goals - Retirement, Education, 1st or 2nd home purchaseDevelop a budget
Assess pros and cons of available account registrations
Develop a college specific savings planReview tax filing status
The College Years
Guiding through FAFSA process.
Cost of Attendance
Budgeting - 4 year plan
Review financing options
Planning for how to best structure debt
Post Grad
Evaluating Debt Repayment MethodsExploring Loan Forgiveness Options
Loan Consolidation & Loan Refinancing
Review impact of tax filing status
Tom Mullen, CFP®, CFSLA
Tom Mullen, CFP®, CFSLA
How do we get started?
- Deep dive into current financial condition
- Identify future financial goals
- Determine educational goals
- Develop a budget
- Co-create a plan to achieve desired outcome
Our goal is to remove some stress from this time in life by helping our clients create a solid plan to provide them peace of mind.