Both the CSLP and SLRA designations are FINRA listed and earn the advisor CFP CEs. Each designation has its own software platform. The biggest difference is the learning approach each program takes. The CSLP is designed as a college course that requires over 40 hours of learning, while the SLRA designation is designed for experienced financial professionals requiring only about 15 hours of training.
| Course Description | Cslp designation | SLRA Designation |
|---|---|---|
| # of CFP Approved CEs | 12.5 CEs | 13.0 CEs |
| Program Cost | $1,495 | $995 |
| Hours to Complete Program | Over 40 hours | 13 - 15 Hours |
| Boot Camp Training Option | No | Yes |
| Add College Funding Training Designation | No | Yes |
The types of loans and timing of the loans will determine the borrowers repayment and forgiveness options
There are four traditional fixed loan repayment methods and five Income-Driven Repayment (IDR) Methods. Both courses cover these in detail.
There are two federal types of student loan forgiveness. Public Service Loan Forgiveness (PSLF) and End of Term Forgiveness. Both methods require different planning strategies, use of an IDR method and have different tax exposures.
The IRS data integration requires additional tax planning for both individuals and businesses.
| Software Features | Cslp designation | SLRA Designation |
|---|---|---|
| Pricing Method | $3/per client per month | Fixed Cost |
| Maximum Cost per Month | $100 | $30 |
| Importing Federal Student Loan Data | Yes | Yes |
| View of All Repayment Options | Yes | Yes |
| Projections of Tax & Forgiveness Amount | Yes | Yes |
| Help & Coaching Videos | No | Yes |
| Couples Tax Analysis & Repayment Options | No | Yes |
| Company Student Loan Assistance Platform | No | Yes |
| College Funding & Graduate School Solutions | No | Yes |
Only $995.00 – Earn 13+ CFP CEs
Two years of industry experience in financial services OR a Bachelor’s degree from an accredited college or university
Hold a license and/or registration in a regulated financial services industry (brokerage, investment adviser services, insurance, CPA, EA) and in good standing based on PayForED’s review.
Earn 10 CE credits every two years on financial-related topics – student loan repayment, college funding, personal finance and taxes after the first year.
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