Financial Aid Counselor (School/College/University) Salary
College Financial Aid Counselors aren't exactly in the most profitable line of business; these folks earn a belt-tightening average of $39K annually. Compensation ranges from $28K on the lower end to $50K per year on the higher end. Most claim medical and dental insurance and the larger part get vision coverage. Women make up the vast majority of College Financial Aid Counselors (83 percent) who answered the questionnaire. Most workers in this position report moderate levels of job satisfaction. The data in this summary comes from the PayScale salary survey.
|Salary||$28,603 - $50,901|
|Bonus||$0.00 - $716|
|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).)
|$28,002 - $49,908|
|Hourly Rate||$12.98 - $21.22|
|Overtime||$14.74 - $34.82|
|Bonus||$0.00 - $716|
|Total Pay (||$28,002 - $49,908|
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. (Copyright 2018 PayScale.com)
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)
College Financial Aid Counselors often transition into Financial Aid Director positions, for which compensation tends to be much higher. On average, Financial Aid Directors earn $56K per year. The most common career progression for College Financial Aid Counselors leads to becoming a Financial Aid Counselor, where pay is typically $34K. However, many College Financial Aid Counselors also opt to become Assistant Directors of Financial Aid, a position that pays $45K on average.
Financial Aid Counselor (School/College/University) Job Listings
Popular Skills for Financial Aid Counselor (School/College/University)
College Financial Aid Counselors who responded to the survey report just a handful of professional skills. Those who have experience with Microsoft Excel, Customer Service, and Microsoft Office can expect to be compensated well for these skills. Skills that seem to negatively impact pay include Microsoft Office and Customer Service. Aptitude in Customer Service tends to also indicate an understanding 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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