Financial Aid Counselor (School/College/University) Salary

It's impossible to make it big as a College Financial Aid Counselors in the United States; the average employee scrapes together only around $39K per year. Lower pay rates hover around $28K, and the higher rates verge on $50K per year. Medical and dental benefits are awarded to a large number, and the larger part earn vision coverage. The vast majority of College Financial Aid Counselors (83 percent) who responded to the survey are women. Most workers in this position report high levels of job satisfaction. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$29,382 - $50,827
$29K
$39K
$51K
MEDIAN: $39,134
10%
50%
90%

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$12.84 - $21.08
$13
$16
$21
MEDIAN: $15.92
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
$29,382 - $50,827  
   
Bonus
$0.00 - $2,020  
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).
)
$27,907 - $49,737  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 136
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$12$24$36
Hourly Rate
$12.84 - $21.08  
   
Overtime
$19.73 - $35.76  
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$24K$48K$72K
Bonus
$0.00 - $2,020  
   
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).
)
$27,907 - $49,737  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 53

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Job Description for Financial Aid Counselor (School/College/University)

Financial aid counselors are responsible for helping students at post-secondary institutions to obtain private and/or government financial aid, grants, and scholarships, as well as provide information regarding available student loans from both private and government institutions.

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Financial Aid Counselor (School/College/University) Tasks

  • Create, negotiate, and communicate financial aid plans for students that fit with existing resources and policies.
  • Oversee specific programs like the federal work-study program, exchange/visiting students, Title IV, etc.
  • Verify and certify loan applications, then follow through to collections, including all documentation.
  • Assist students and parents with paperwork, eligibility questions, and handling awards.

Common Career Paths for Financial Aid Counselor (School/College/University)


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College Financial Aid Counselors might see a strong upturn in salary after transitioning into upper-level roles such as Financial Aid Director, a seemingly popular career choice. People currently working in the latter position report a noticeably higher median income of $56K per year. The most common promotion for College Financial Aid Counselors is Assistant Director of Financial Aid, a position that typically pays $45K annually. Another standard transition for College Financial Aid Counselors seeking advancement is to assume a Financial Aid Counselor role, where pay is often $34K.

Financial Aid Counselor Job Listings

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Popular Skills for Financial Aid Counselor (School/College/University)


Typical College Financial Aid Counselors report a focused set of job skills. Those who have experience with Microsoft Excel, Customer Service, and Microsoft Office can expect to be compensated well for these skills. Skills that pay less than market rate include Microsoft Office and Customer Service. Employees educated in Customer Service are typically practiced in Microsoft Office, too.

Pay by Experience Level for Financial Aid Counselor (School/College/University)

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


Those in the early stages of their career can expect to make around $35K; however, individuals with five to 10 years of experience bring in $41K on average — a distinctly larger sum. College Financial Aid Counselors see a median salary of $40K after reaching one to two decades on the job. Folks who have racked up more than 20 years in the field report incomes that aren't higher than less experienced individuals' earnings.

Financial Aid Counselor (School/College/University) Reviews

Q: What is it like working as a Financial Aid Counselor (School/College/University)?

Financial Aid Counselor (School/College/University) in Houghton:
"Financial Aid - being honest with families."
Pros: Helping students; awarding scholarships; learning about what students are studying and what plans they have for the future. I also found the level of stress to be much lower then my previous job. Being able to obtain my MBA while working is also a huge perk.
Cons: Having tough conversations with families; not having enough gift aid (institutional, state and federal) to help every student; explaining the rising costs of education and having absolutely no say in the matter (deflecting blame from our administration); dealing with educational policy is also frustrating.

Financial Aid Counselor (School/College/University) in Memphis:
Make sure your learn all the rules and regulations of the federal government such as Title IV funds to award students.

Related Job Salaries

Key Stats for Financial Aid Counselor (School/College/University)

Gender

Female
83 %
Male
17 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 28 votes.
Less than 1 year
3%
1-4 years
41%
5-9 years
28%
10-19 years
21%
20 years or more
7%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Financial Aid Counselor (School/College/University) Salaries

Mid-Career
▲9%

Experienced
▲6%

Late-Career
▲6%

National Average
$37,000

Entry-Level
▼5%

Skills That Affect Financial Aid Counselor (School/College/University) Salaries

National Average
$37,000

Microsoft Excel
▼2%



Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 28 votes.

Gender

Female
83 %
Male
17 %

Years of Experience

Less than 1 year
3%
1-4 years
41%
5-9 years
28%
10-19 years
21%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 82%
dental benefits
Dental: 79%
vision benefits
Vision: 62%
dental benefits
None: 14%
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