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Master of Financial Planning - UNSW or Kaplan?

Discussion in 'Financial Planning Study Group' started by atm1991, 17th Mar, 2016.

  1. atm1991

    atm1991 New Member

    Joined:
    17th Mar, 2016
    Posts:
    3
    Location:
    Sydney, NSW
    I graduated with a Bachelor of Business in Accounting (high credit average) from UTS in 2012. Did a co-op placement in Big 4 Audit earlier that same year which was the last time I worked in a corporate role.

    Several years along, I'm looking into doing a Masters in Financial Planning part-time and am looking at both UNSW and Kaplan. Naturally, UNSW has the better standing as a university, however the course fees are significantly higher ($3,900 vs $2,275 per subject). Both ultimately would lead to the same CFP exemptions and whilst not fully online, UNSW also offers a portion of it's subjects this way.

    Accordingly, my questions are:

    1. Has anyone got any knowledge of whether major employers such as banks actually hire Kaplan graduates (notwithstanding academic performance)? I've got several family members at major banks who say they put they're people through Kaplan courses, but this is different to hiring their fresh graduates.

    2. Does anyone have any insight on the differences in rigour between the two? For example, I know UNSW offers electives from the Tax and Business Law faculty which seem like they would cover at more depth these elements of financial planning at least.

    Any other advice is more than appreciated.

    Thanks!
     
  2. Terryw

    Terryw Well-Known Member

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    9th Jun, 2006
    Posts:
    653
    Location:
    Sydney
    Go UNSW. Greater reputation and rigor and many more subjects to choose from.
     
  3. atm1991

    atm1991 New Member

    Joined:
    17th Mar, 2016
    Posts:
    3
    Location:
    Sydney, NSW
    Thanks very much Terry, much appreciated. I've gained a lot of knowledge from your presence on various forums!
     
    Last edited by a moderator: 27th Mar, 2016
  4. atm1991

    atm1991 New Member

    Joined:
    17th Mar, 2016
    Posts:
    3
    Location:
    Sydney, NSW
    Also, a bit of a deviation from my initial question by still relevant to my decision to pursue further studies in this area.

    Say hypothetically I could secure an entry level position as a Financial Planning Assistant prior to commencing the studies, I believe then tax deductibility would apply to the subject fees and other related expenses as self education expenses. Accordingly:

    Would this deductibility (in particular for the subject fees) only apply if I were to pay the subject fees upfront or also if I defer via FEE-HELP as a non-CSP student? Also, if I defer via FEE-HELP and this is still eligible, would the date at which the expenses become deductible (i.e. when I have incurred them as liability in the form of a FEE-HELP debt) be the census date in a given semester?

    In terms of the course fees and possible employment I outlined previously, it is unlikely my taxable income (and therefore tax payable) as a PAYG employee in such an entry level position would exceed the incurred subject fees (assuming 2 subjects per semester at UNSW). However, I also am the Sole Executor of a deceased estate (all assets currently in cash or term deposit, no debts and it is administered to the point that all assets can be distributed) and in which I have an equal share with one other beneficiary, who is my brother. Accordingly, I am also looking at ways to structure this so that I may increase my taxable income for the purposes of claiming deductions for the expenses outlined above in full, such as establishing a discretionary family trust and distributing income generated form the trust investments accordingly.

    Happy to provide more details and apologies in advance for any confusion my post causes!

    Thanks!
     
    Last edited by a moderator: 27th Mar, 2016