Financial Aid Counselor (School/College/University) Salary
College Financial Aid Counselors in the United States are not likely to strike it rich; they only make around $39K annually on average. Lower pay rates hover around $28K, and the higher rates verge on $50K per year. Most get medical and dental insurance, and the larger part get vision plans, too. Most workers in this position report moderate levels of job satisfaction. Women account for the majority of College Financial Aid Counselors who took the survey — 83 percent to be exact.
|Salary||$29,497 - $51,017|
|Bonus||$0.00 - $2,007|
|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).)
|$28,044 - $50,093|
|Hourly Rate||$12.70 - $21.51|
|Overtime||$19.94 - $40.50|
|Bonus||$0.00 - $2,007|
|Total Pay (||$28,044 - $50,093|
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.Read More...
A bachelor's degree in a relevant field is generally required for this position, and courses in accounting, business, communications, and psychology are beneficial. Financial aid counselors must provide pertinent information regarding financial/educational matters to students and/or their parents. They often meet students/parents in-person or via phone, e-mail, or the "contact" section of their organization's website. Upon request, these counselors may help develop students' budgets and explain loan repayment procedures, as well. Excellent written and oral communications skills are essential, and strong computer skills including proficiency with Microsoft Office (Word, Excel, Outlook, etc.) and the particular organizations' computer systems are also required.
Those in this position must be able to maintain computer databases for students' records. They must be friendly and able to work efficiently and objectively with diverse students and coworkers; the ability to speak a second language is useful, but not necessary. They are encouraged to take training and/or workshops conducted by Department of Education and various financial aid associations to further the development of their own careers; the National Association of Student Final Aid Administration (NAFSA) also offers such workshops, training and conferences. Financial aid counselors generally receive on-the-job training, and senior counselors may be required to coach and train new workers.
Financial Aid Counselor (School/College/University) Tasks
- 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.
- Assist in the review of students' financial aid applications.
- Coordinate and administer financial aid appeals.
- Package, award, and disburse funds to students.
Common Career Paths for Financial Aid Counselor (School/College/University)
Many College Financial Aid Counselors move into a Financial Aid Director role, and folks who currently hold that position report a much higher median income of $56K per year. As College Financial Aid Counselors progress in their field, many go on to become Financial Aid Counselors. In fact, this transition is more common than anything else, and median pay for the role is $34K. Another common career choice for College Financial Aid Counselors is to move into an Assistant Director of Financial Aid role — this promotion usually pays $45K.
Financial Aid Counselor (School/College/University) Job Listings
Popular Skills for Financial Aid Counselor (School/College/University)
College Financial Aid Counselors report a narrow range of specific skills. Those who have experience with Microsoft Excel, Customer Service, and Microsoft Office can expect to be compensated well for these skills. Skills that are correlated to lower pay, on the other hand, include Microsoft Office and Customer Service. Experience with Customer Service is often linked with knowledge of Microsoft Office.
Pay by Experience Level for Financial Aid Counselor (School/College/University)
Pay by Experience for a Financial Aid Counselor (School/College/University) has a positive trend. An entry-level Financial Aid Counselor (School/College/University) with less than 5 years of experience can expect to earn an average total compensation of $35,000 based on 111 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Financial Aid Counselor (School/College/University) with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $40,000 based on 69 salaries. An experienced Financial Aid Counselor (School/College/University) which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $39,000 based on 44 salaries. A Financial Aid Counselor (School/College/University) with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $40,000 based on 13 salaries.
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