Master of Science Degree in Consumer Sciences with a Concentration in Family Financial Planning and Counseling
In this 30-credit-hour Master of Science degree program, students will study economic and social influences on the family and learn how to help individuals and families achieve their financial goals. By taking two courses each semester, students may complete this M.S. degree in less than two years. The program is offered both in Tuscaloosa and by asynchronous online format.
Students must earn 30 hours of graduate coursework for the degree including 9 hours of core courses and 21 hours of family financial planning and counseling concentration courses to include electives in the area of specialization.
Required Courses:
CSM 500 Personal Insurance Planning and Management (3 hours). Survey of the myriad of personal risks facing consumers and families throughout the life cycle. An emphasis is placed on the fundamentals of risk management. Includes a comprehensive study of insurance products.
CSM 504 Personal Investment Planning and Management (3 hours). Focus on personal investing in marketable securities. Covers the basics of investing, including detailed definitions of investment terms, descriptive materials on how securities are purchased and sold, theoretical models of security valuation and practical examples of how to calculate growth rates.
CSM 510 Personal Retirement Planning and Employee Benefits (3 hours). Fundamentals of personal retirement planning and the selection of employee benefits.
CSM 520 Personal Estate Planning (3 hours). Techniques of personal estate planning within the family life cycle.
CSM 554 Personal Income Tax Management and Planning (3 hours). An analysis of personal income tax management and planning as it relates to consumers and families throughout the life cycle.
CSM 558 Spreadsheets in Financial Decision Making (3 hours). The focus of this course is to develop a working knowledge of Microsoft Excel as it may be used to analyze problems related to personal financial planning. The course emphasizes life-cycle planning and computer literacy. The course is designed to help students in becoming better prepared for the actual workplace environment.
CSM 559 Techniques of Counseling (3 hours). Introduces students to basic interactional interviewing skills and strategies. Course is beneficial to those entering the fields of financial planning, business, management, sales or any commercial activity that involves interpersonal communication. Students who plan to supervise and manage others would benefit by expanding theory with practical application. Students with career goals involved in counseling families, couples and individuals regarding life decisions will benefit from this course.
CSM 560 Financial Planning Case Study Capstone (3 hours). The Capstone focuses on developing and practicing the skills required to develop a client financial plan. The course will culminate in a presentation of a financial planning case appropriate for a client, in fulfillment of the CFP Board case planning requirement.
Prerequisites: Applicants are best prepared for our M.S. coursework when they have successfully completed courses in introductory microeconomics (such as EC 110 at UA), elementary statistics (such as ST 260 or BER 345 at UA), and introductory personal finance or financial planning (such as CSM 204 at UA). Applicants who have not completed these or similar courses with a grade of C or higher will be advised to complete one or more of the following courses: CSM 517 Financial Planning Foundations (1 credit), CSM 518 Statistics Foundations for Consumer Sciences (1 credit), and CSM 519 Consumer Economic Foundations (1 credit). Foundations courses do not count toward degree requirements.
Students must conduct a culminating experience prior to graduation. These 0-3 credit hours may be earned through a practicum, a portfolio, or a capstone project.
CERTIFICATION:
Students completing the family financial planning and counseling specialization are taking an important step toward establishing professional credentials. The specialization is registered with the Certified Financial Planner Board of Standards, Inc., so that students who successfully complete the specialization will be eligible to sit for the CFP® certification examination that leads to the professional certification as a CERTIFIED FINANCIAL PLANNER™ professional and CFP®. The University of Alabama does not certify individuals to use the CFP® and CERTIFIED FINANCIAL PLANNER™ marks. Please see footnote for more information.
The degree is also an AFCPE® Approved University Program. Students that successfully complete the degree will qualify to sit for the AFC® Exam.
KT Kim, PH.D., Graduate Coordinator
Department of Consumer Sciences
College of Human Environmental Sciences
The University of Alabama
Box 870158
Tuscaloosa, AL 35487-0158
CFP® and CERTIFIED FINANCIAL PLANNER™ are certification marks owned by the Certified Financial Planner Board of Standards, Inc. (CFP Board). These marks are awarded to individuals who successfully complete the CFP Board’s initial and ongoing certification requirements. The University of Alabama does not certify individuals to use the CFP® and CERTIFIED FINANCIAL PLANNER™ marks. CFP® certification is granted solely by the CFP Board to individuals who, in addition to completing an educational requirement such as this CFP Board-Registered Program, have met ethics, experience and examination requirements.
Students must earn 30 hours of graduate coursework for the degree including 9 hours of core courses and 21 hours of family financial planning and counseling concentration courses to include electives in the area of specialization.
Required Courses:
CSM 500 Personal Insurance Planning and Management (3 hours). Survey of the myriad of personal risks facing consumers and families throughout the life cycle. An emphasis is placed on the fundamentals of risk management. Includes a comprehensive study of insurance products.
CSM 504 Personal Investment Planning and Management (3 hours). Focus on personal investing in marketable securities. Covers the basics of investing, including detailed definitions of investment terms, descriptive materials on how securities are purchased and sold, theoretical models of security valuation and practical examples of how to calculate growth rates.
CSM 510 Personal Retirement Planning and Employee Benefits (3 hours). Fundamentals of personal retirement planning and the selection of employee benefits.
CSM 520 Personal Estate Planning (3 hours). Techniques of personal estate planning within the family life cycle.
CSM 554 Personal Income Tax Management and Planning (3 hours). An analysis of personal income tax management and planning as it relates to consumers and families throughout the life cycle.
CSM 558 Spreadsheets in Financial Decision Making (3 hours). The focus of this course is to develop a working knowledge of Microsoft Excel as it may be used to analyze problems related to personal financial planning. The course emphasizes life-cycle planning and computer literacy. The course is designed to help students in becoming better prepared for the actual workplace environment.
CSM 559 Techniques of Counseling (3 hours). Introduces students to basic interactional interviewing skills and strategies. Course is beneficial to those entering the fields of financial planning, business, management, sales or any commercial activity that involves interpersonal communication. Students who plan to supervise and manage others would benefit by expanding theory with practical application. Students with career goals involved in counseling families, couples and individuals regarding life decisions will benefit from this course.
CSM 560 Financial Planning Case Study Capstone (3 hours). The Capstone focuses on developing and practicing the skills required to develop a client financial plan. The course will culminate in a presentation of a financial planning case appropriate for a client, in fulfillment of the CFP Board case planning requirement.
Prerequisites: Applicants are best prepared for our M.S. coursework when they have successfully completed courses in introductory microeconomics (such as EC 110 at UA), elementary statistics (such as ST 260 or BER 345 at UA), and introductory personal finance or financial planning (such as CSM 204 at UA). Applicants who have not completed these or similar courses with a grade of C or higher will be advised to complete one or more of the following courses: CSM 517 Financial Planning Foundations (1 credit), CSM 518 Statistics Foundations for Consumer Sciences (1 credit), and CSM 519 Consumer Economic Foundations (1 credit). Foundations courses do not count toward degree requirements.
Students must conduct a culminating experience prior to graduation. These 0-3 credit hours may be earned through a practicum, a portfolio, or a capstone project.
CERTIFICATION:
Students completing the family financial planning and counseling specialization are taking an important step toward establishing professional credentials. The specialization is registered with the Certified Financial Planner Board of Standards, Inc., so that students who successfully complete the specialization will be eligible to sit for the CFP® certification examination that leads to the professional certification as a CERTIFIED FINANCIAL PLANNER™ professional and CFP®. The University of Alabama does not certify individuals to use the CFP® and CERTIFIED FINANCIAL PLANNER™ marks. Please see footnote for more information.
The degree is also an AFCPE® Approved University Program. Students that successfully complete the degree will qualify to sit for the AFC® Exam.
KT Kim, PH.D., Graduate Coordinator
Department of Consumer Sciences
College of Human Environmental Sciences
The University of Alabama
Box 870158
Tuscaloosa, AL 35487-0158
CFP® and CERTIFIED FINANCIAL PLANNER™ are certification marks owned by the Certified Financial Planner Board of Standards, Inc. (CFP Board). These marks are awarded to individuals who successfully complete the CFP Board’s initial and ongoing certification requirements. The University of Alabama does not certify individuals to use the CFP® and CERTIFIED FINANCIAL PLANNER™ marks. CFP® certification is granted solely by the CFP Board to individuals who, in addition to completing an educational requirement such as this CFP Board-Registered Program, have met ethics, experience and examination requirements.
Applying for admission to the M.S. degree in consumer sciences with the financial planning concentration
The application process begins by being admitted to The University of Alabama’s Graduate School. List Consumer Sciences as the major and mark the track in Family Financial Planning and Counseling. Indicate main campus or distance learning as appropriate on the application. During the application process prospective students will submit transcripts for all previous undergraduate coursework. Official transcripts should only be sent after admission. UA students do not need to submit transcripts.
Final application deadlines: April 15 for summer, July 1 for fall, and November 1 for spring.
Requirements:
satisfy one of the following:
Please articulate your reasons for applying and include all of the following elements:
Prerequisites Note:
CSM prerequisite courses may be waived by the graduate coordinator in consultation with the graduate admissions committee. In the absence of these or when a timely decision must be made to meet an imminent deadline, the Department Head may make the decision. Circumstances for waiver include:
If you wish to apply for a Graduate Assistantship, please complete the assistantship.pdf form in addition to the above requirements.
The application process begins by being admitted to The University of Alabama’s Graduate School. List Consumer Sciences as the major and mark the track in Family Financial Planning and Counseling. Indicate main campus or distance learning as appropriate on the application. During the application process prospective students will submit transcripts for all previous undergraduate coursework. Official transcripts should only be sent after admission. UA students do not need to submit transcripts.
Final application deadlines: April 15 for summer, July 1 for fall, and November 1 for spring.
Requirements:
satisfy one of the following:
- 3.0/4.0 GPA or 3.0 GPA on last 60 hours, minimum of two recommendation letters, a resume, and a statement of purpose OR
- An acceptable MAT, GMAT or GRE entrance examination score, minimum of two recommendation letters, a resume, and a statement of purpose
Please articulate your reasons for applying and include all of the following elements:
- Indicate whether you intend to complete either the Accelerated Master’s Program (for current UA undergraduates only) or the M.S. with a concentration in family financial planning and counseling.
- Please describe your educational and/or career goals and how the degree program would help you reach those goals.
- Describe any experiences you have had that demonstrate your commitment to pursuing graduate training. For example, prior academic achievements, research and/or publication experiences, professional experiences, volunteer activities, or any other formative experiences.
- Briefly describe how you became aware of our graduate programs.
- Anything else you would like our faculty to know when evaluating your application.
Prerequisites Note:
CSM prerequisite courses may be waived by the graduate coordinator in consultation with the graduate admissions committee. In the absence of these or when a timely decision must be made to meet an imminent deadline, the Department Head may make the decision. Circumstances for waiver include:
- Successful completion of a demonstrably similar course.
- Two or more years of closely‐related work experience. Applicants must describe how their work experience supplants the need for the coursework.
- Hold, in good standing, a designation such as Certified Public Accountant (CPA), Chartered Life Underwriter (CLU), Certified Financial Planner® (CFP®), Chartered Financial Consultant (ChFC), Chartered Financial Analyst (CFA), applicable FINRA licenses, Accredited Financial Counselor (AFC), or similar.
- Previously earned a graduate degree in a closely‐related field.
If you wish to apply for a Graduate Assistantship, please complete the assistantship.pdf form in addition to the above requirements.