CCPS Certified College Planning Specialist Practice Exam

CCPS Certified College Planning Specialist Practice Exam Outline 1. Introduction to College Planning and the Role of the Specialist o Overview of the role and responsibilities of a Certified College Planning Specialist (CCPS) o The importance of college planning in the context of financial aid and higher education o Understanding the comprehensive nature of college planning: financial, academic, and personal considerations o Key principles and strategies used by college planning specialists to guide students and families o Ethical and legal considerations for college planning professionals 2. College Admissions Process o Overview of the college admissions process for undergraduate students o Steps in the application process: choosing a college, application submission, essays, and recommendations o Understanding college application requirements (e.g., SAT/ACT scores, GPA, extracurriculars) o Early decision, early action, and regular decision processes o Role of standardized tests (SAT, ACT, AP exams, SAT Subject Tests) in the admissions process o Interview preparation and tips for applicants 3. Choosing the Right College o Factors to consider when selecting a college (academic programs, campus culture, location, cost) o Researching colleges: tools and resources (college websites, rankings, college fairs) o Understanding different types of colleges: public vs. private, liberal arts colleges, community colleges, and technical schools o The importance of campus visits and interviews in the decision-making process o Balancing academic aspirations, career goals, and personal preferences in choosing a college 4. Financial Aid Overview o Overview of financial aid: need-based vs. merit-based aid o Types of financial aid: scholarships, grants, loans, and work-study o How to apply for financial aid: Free Application for Federal Student Aid (FAFSA), CSS Profile, and institutional forms o Determining financial need and the role of Expected Family Contribution (EFC) o Understanding the financial aid award letter and the components of a financial aid package 5. Scholarships and Grants o Identifying and researching scholarship opportunities: merit-based, need-based, and specific-field scholarships o Finding local, national, and school-specific scholarships o Applying for scholarships: essay writing, recommendation letters, application processes o The importance of maintaining scholarship eligibility (e.g., GPA, extracurricular activities) o Federal and state grants: Pell Grant, state-based financial aid programs, and other funding sources o Private and institutional grants, including specific grants for nontraditional students 6. Student Loans and Financing Options o Overview of student loans: federal vs. private loans o Federal student loan programs: Direct Subsidized and Unsubsidized Loans, PLUS Loans o Understanding the loan application process: FAFSA and loan eligibility o Federal student loan repayment options, interest rates, and deferment options o Private student loans: when they may be necessary, interest rates, and terms o Consolidation and refinancing options for student loans o Loan forgiveness programs: Public Service Loan Forgiveness (PSLF), Teacher Loan Forgiveness 7. Understanding College Costs and Budgeting o Breakdown of college expenses: tuition, fees, room and board, books, and personal costs o Understanding the cost of attendance (COA) and how it affects financial aid packages o Tips for creating a college budget: managing expenses, controlling costs, and estimating living expenses o Managing on-campus and off-campus housing costs o Financial planning for study abroad programs, internships, and additional educational experiences o Utilizing financial planning tools and apps for budgeting during college 8. Tax Benefits and College Savings Plans o Overview of tax benefits for college savings: 529 Plans, Coverdell Education Savings Accounts o How to use tax-deferred savings plans for college expenses o Understanding tax credits and deductions for families with college students: American Opportunity Tax Credit, Lifetime Learning Credit, and Tuition and Fees Deduction o State-specific tax benefits for college savings o Financial implications of using savings for education and how it impacts financial aid eligibility 9. College Planning for Special Populations o Planning for nontraditional students (e.g., adult learners, veterans, transfer students) o Supporting students with disabilities and understanding accommodations in the college admissions process o Planning for students who are athletes, artists, or have special talents o College planning for first-generation college students and those from underrepresented backgrounds o International students: navigating admissions, visa requirements, and financial aid options 10. The Financial Aid Award Process o Understanding the financial aid package: cost of attendance, EFC, and financial need o Interpreting the financial aid award letter and understanding each component o Understanding loan offers and how to assess loan terms o Comparing offers from different colleges and understanding the true cost of attending o Negotiating financial aid packages and appealing decisions for more aid o Understanding the impact of family income, assets, and special circumstances on financial aid 11. Student Employment and Work-Study Opportunities o Exploring the role of student employment and work-study programs in college financing o Overview of federal work-study programs and eligibility criteria o Finding and securing part-time jobs both on-campus and off-campus o Managing work and academic responsibilities: balancing work-study with coursework o Benefits and limitations of student employment in managing college costs 12. Financial Aid Sourcing and Third-Party Resources o Using third-party resources for scholarships and financial aid guidance o Overview of private scholarship search engines and platforms o Nonprofit organizations and foundations that provide college funding opportunities o Using community resources, foundations, and local businesses to support financial aid needs o The role of financial planners, college consultants, and professional associations in college planning 13. Retirement and College Planning o Balancing college savings with retirement savings o How to incorporate college funding into long-term financial goals o Impact of saving for college on retirement planning and vice versa o Understanding tax implications of college savings in relation to retirement savings 14. Financial Aid for Graduate and Professional School o Overview of financial aid options for graduate school: fellowships, assistantships, and loans o Applying for graduate school aid: FAFSA for graduate students, institutional funding, and scholarships o Managing the cost of professional school (e.g., law, medical, business) and how to plan for it o Loan options for graduate school students and the impact of student debt on future financial plans 15. Loan Repayment and Debt Management After College o Overview of federal loan repayment plans: Income-Driven Repayment, Standard Repayment, Graduated Repayment o Managing student debt after graduation: budgeting and loan management strategies o Refinancing student loans for lower interest rates and better terms o Strategies for tackling private student loans and consolidating debt o Financial planning for life after college: building credit, savings, and wealth-building 16. Legal and Ethical Considerations in College Planning o Understanding confidentiality and privacy issues in college planning and financial aid o Legal responsibilities and fiduciary duties of college planning specialists o Ethical practices in recommending financial products and services for families o Ensuring compliance with regulations like FERPA (Family Educational Rights and Privacy Act) o Avoiding conflicts of interest and promoting transparency with clients 17. Personal Financial Planning for Families o The role of family financial planning in college preparation o Understanding family financial situations and the impact on college affordability o Managing assets and income in a way that maximizes financial aid eligibility o Working with families to develop long-term financial strategies for education o Helping families plan for both the immediate and long-term costs of education 18. Career Planning and College Major Selection o The importance of career planning in choosing a college major and determining educational paths o Understanding the intersection of academic choices, career goals, and financial planning o Assisting students in selecting majors that align with their career aspirations and market demand o Researching job prospects, salary potential, and job growth for various fields of study o The role of internships, co-op programs, and career services in preparing students for post-graduation employment 19. Test Preparation and Academic Support o Resources for preparing for standardized college admissions tests (SAT, ACT) o Understanding the role of test preparation in the college admissions process o How to support students in improving their academic records (e.g., GPA, class ranking) o Academic resources and tutoring services for students who may need additional support 20. Practical College Planning Tools and Resources o Software and online tools for managing college planning tasks (budgeting, application tracking) o Planning checklists, timelines, and worksheets for families and students o College planning workshops, seminars, and community resources o Building an organized college planning strategy and timeline from freshman year to senior year