Financial Aid Counselors in the United States are not likely to strike it rich; they only make around $37K annually on average. Career length is the biggest factor affecting pay for this group, followed by geography. Most Financial Aid Counselors survey respondents are women (78 percent). Medical benefits are awarded to most, and a strong majority earn dental coverage. The majority of Financial Aid Counselors claim high levels of job satisfaction. Respondents to the PayScale salary survey provided the data for this report.

$29,811 - $49,092
(Median)
$30K
$37K
$49K
MEDIAN: $37,384
10%
50%
90%

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$13.23 - $22.06
(Median)
$13
$17
$22
MEDIAN: $17.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$17K$34K$51K
Salary
$29,811 - $49,092  
   
Bonus
$0.00 - $1,468  
Profit Sharing
$500  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$29,451 - $48,142  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 223
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$11$22$33
Hourly Rate
$13.23 - $22.06  
   
Overtime
$19.27 - $32.37  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$22K$44K$66K
Bonus
$0.00 - $1,468  
   
Profit Sharing
$500  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$29,451 - $48,142  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 49
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Job Description for Financial Aid Counselor

Financial aid counselors work with students to discuss financial aid options. These professionals are employed almost exclusively by institutes of higher learning, which includes for-profit schools and non-profit institutions; counselors may also consult at college fairs. Financial aid counselors typically work with other counselors and the employees in the bursar's office to provide correct information to students, who may have little to no knowledge about financial aid. A typical day for financial aid counselors includes working during regular business hours, making appointments with students or helping walk-ins, discussing a financial plan with those students, and researching new developments in financial aid.

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Financial Aid Counselor Tasks

  • Coordinate and administer financial aid appeals.
  • Package, award, and disburse funds to students.
  • Assist in the review of students' financial aid applications.
  • Counsel students and parents about self-help financial aid programs, eligibility requirements, and application processes.
  • Plan and perform financial aid workshops to staff and students.

Common Career Paths for Financial Aid Counselor


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Financial Aid Counselors who transition into a Financial Aid Director role may receive large pay increases as the latter position pays an average $55K per year.

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Pay by Experience Level for Financial Aid Counselor

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience is an important factor influencing the compensation of Financial Aid Counselors. Average salaries for inexperienced employees average out to around $36K, but folks who have five to 10 years of experience earn a higher median of $39K. After working for 10 to 20 years, Financial Aid Counselors make a median salary of $42K. Seasoned veterans with 20 years under their belts enjoy a median income of $55K.

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Experience Affects Financial Aid Counselor Salaries

Late-Career
up arrow 47%

Experienced
up arrow 14%

Mid-Career
up arrow 5%

National Average
$37,000


Skills That Affect Financial Aid Counselor Salaries

Federal Grants
up arrow 12%

Financial Advisor
up arrow 8%

Counseling
up arrow 3%

Financial Aid
up arrow 2%

National Average
$37,000

Customer Service
up arrow 1%

Financial Analysis
up arrow 4%

Financial Applications
up arrow 4%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 32 votes.

Gender

Female
78 %
Male
22 %

Years of Experience

Less than 1 year
3%
1-4 years
55%
5-9 years
25%
10-19 years
15%
20 years or more
2%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 78%
medical benefits
Vision: 66%
dental benefits
None: 10%
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