The total estimated cost of attending a college or university, including tuition, fees, room and board, books, supplies, transportation, and personal expenses.
Cost of Attendance
A measure of a family’s financial strength used to determine eligibility for federal student aid, calculated based on income, assets, family size, and the number of family members attending college.
Expected Family Contribution
A tax-advantaged investment account that allows for the accumulation of funds to cover qualified education expenses for K-12 and higher education.
Coverdell Education Savings Account
The total amount of financial aid offered to a student, including scholarships, grants, work-study, and loans.
Financial Aid Package
A form used by the U.S. Department of Education to determine a student’s eligibility for financial aid, including federal grants, work-study, and loans.
Free Application for Federal Student Aid
Financial aid that does not need to be repaid, typically awarded based on academic, athletic, or other achievements.
Scholarship
Financial aid, often need-based, that does not require repayment, commonly provided by federal, state, or institutional sources.
Grant
Borrowed money that must be repaid, with interest, used to cover education-related expenses. Loans can be federal or private.
Student Loan
A federal program that provides part-time jobs for students with financial need, allowing them to earn money to help pay education expenses.
Work-Study Program
Financial assistance awarded based on a student’s academic, athletic, artistic, or other talents, regardless of financial need.
Merit-Based Aid
Financial assistance awarded based on a student’s financial situation, determined by the family’s income, assets, and the cost of attendance.
Need-Based Aid
A summary of the information provided on the FAFSA, including the Expected Family Contribution (EFC) and eligibility for financial aid.
Student Aid Report
An online tool that provides an estimate of the actual cost of attending a specific college or university after considering financial aid.
Net Price Calculator
The target amount needed to cover future education expenses, taking into account factors like inflation, investment returns, and savings strategies.
Education Savings Goal
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A.1 CFP Board’s Code of Ethics and Standards of Conduct21
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A.2 CFP Board’s Procedural Rules25
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A.3 Function, purpose, and general structure of financial institutions10
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A.4 Financial services regulations and requirements19
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A.5 Consumer Protection Laws20
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A.6 Fiduciary standard and application20
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B.7 Financial Planning Process28
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B.8 Financial Statements29
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B.9 Cash Flow Management30
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B.10 Financing Strategies and Debt Management39
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B.11 Economic concepts40
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B.12 Time value of money concepts and calculations15
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B.13 Education needs analysis14
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B.14 Education savings vehicles15
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B.15 Education funding14
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B.16 Gift / income tax strategies15
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C.17 Principles of risk and insurance9
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C.18 Analysis and evaluation of risk exposures8
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C.19 Health insurance and health care cost management (individual and group)10
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C.20 Disability income insurance (individual and group)10
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C.21 Long-term care insurance and long-term case planning (individual and group)7
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C.22 Qualified and Non-Qualified Annuities10
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C.23 Life insurance (individual and group)10
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C.24 Business owner insurance solutions10
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C.25 Insurance needs analysis10
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C.26 Insurance policy and company selection12
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D.27 Characteristics, uses and taxation of investment vehicles9
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D.28 Types of investment risk12
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D.29 Market cycles10
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D.30 Quantitative investment concepts and measures of investment returns10
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D.31 Asset allocation and portfolio diversification9
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D.32 Bond and stock valuation concepts10
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D.33 Portfolio development and analysis9
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D.34 Investment strategies7
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D.35 Alternative investments and liquidity risk10
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E.36 Fundamental and current tax law10
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E.37 Income tax fundamentals and calculations3
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E.38 Characteristics and income taxation of business entities10
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E.39 Income taxation of trusts and estates10
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E.40 Tax reduction/management techniques8
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E.41 Tax consequences of property transactions11
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E.42 Tax implications of special circumstances9
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E.43 Charitable/philanthropic contributions and deductions10
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F.44 Retirement needs analysis10
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F.45 Social Security and Medicare planning10
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F.46 Eldercare and special needs planning9
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F.47 Types of retirement plans7
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F.48 Qualified plan rules and options8
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F.49 Non-qualified plan rules and options10
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F.50 Key factors affecting plan selection for businesses10
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F.51 Distribution rules and taxation10
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F.52 Retirement income and distribution strategies10
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F.53 Business succession planning10
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G.54 Property titling and beneficiary designations18
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G.55 Strategies to transfer property17
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G.56 Estate and Incapacity Planning Documents39
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G.57 Gift, estate, and GST tax compliance and calculation9
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G.58 Sources for estate liquidity10
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G.59 Types, features, and taxation of trusts10
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G.60 Marital deduction10
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G.61 Intra-family and other business transfer techniques10
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G.62 Postmortem estate planning techniques9
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G.63 Planning for divorce, unmarried couples and other special circumstances9
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G.64 Planning for special needs and circumstances10
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H.65 Client and planner attitudes, values, biases6
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H.66 Behavioral finance7
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H.67 Sources of money conflict10
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H.68 Principles of counseling10
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H.69 General principles of effective communication10
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H.70 Crisis events with severe consequences10
