Financial Aid Director Salary
Financial Aid Directors who are practiced in their profession and carry more than 10 years of experience make up over one-half of Financial Aid Directors. Pay fluctuates from $42K to $93K per year, but expected earnings average $62K per year. Residence and career duration each impact pay for this group, with the former having the largest influence. Men are in the minority of survey respondents, with female Financial Aid Directors making up 74 percent. Most people in this profession are content with their work, and moderate levels of job satisfaction are reported. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to more than half.
|Salary||$44,852 - $90,836|
|Bonus||$0.00 - $3,425|
|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).)
|$42,869 - $90,044|
|Hourly Rate||$17.70 - $31.28|
|Bonus||$0.00 - $3,425|
|Total Pay (||$42,869 - $90,044|
Job Description for Financial Aid Director
Financial aid directors are hired by various institutions that have financial aid departments; any operation that facilitates payment for products or services can be referred to as financial aid. These operations include offering grants, managing loans, providing payment plans, and determining eligibility for aid. The director of the financial aid department has to orchestrate all these operations by managing the existing financial aid programs and implementing new ones as needed.Read More...
Financial aid departments generally have a hierarchy of employees handling tasks that range from answering phones to extending loan offers. It is ultimately the director's job to ensure that the financial aid staff is applying protocol when running operations. The director holds regular meetings to discuss the protocol of their institution and any pending cases; something becomes a pending case when the relevant committee is not able to reach a decision as to whether or not an applicant qualifies for financial aid. It is the financial aid director's job to rule in these cases, sometimes after meeting with the applicant.
It might occasionally be necessary for this director to work extra hours (i.e. when meeting bank deadlines or at the end of the fiscal year). Otherwise, a financial aid director work standard daytime office hours. Most jobs require at least a bachelor's degree in business, finance, or a related field, as well as extensive relevant experience. (Copyright 2017 PayScale.com)
Financial Aid Director Tasks
- Propose and implement financial aid policies and procedures, and ensure compliance with state and federal regulations.
- Hire, train, supervise, direct, and evaluate staff working in the financial aid department.
- Provide information to students on aid programs, maintain student records, evaluate aid applications, and ensure aid is correctly disbursed.
- Manage the operation of the financial aid office and administer programs which provide financial aid to students.
- Prepare applications for private, local, state, and federal funding and coordinate department during audits.
Financial Aid Director Job Listings
Popular Skills for Financial Aid Director
Financial Aid Directors generally report applying a varied skill set to their work. Most notably, skills in Budget Management, People Management, Federal Grants, and Regulatory Compliance are correlated to pay that is above average, with boosts between 4 percent and 7 percent. Skills that are correlated to lower pay, on the other hand, include Loan Processing. Those proficient in Budget Management are, more often than not, also skilled in People Management.
Pay by Experience Level for Financial Aid Director
Pay by Experience for a Financial Aid Director has a positive trend. An entry-level Financial Aid Director with less than 5 years of experience can expect to earn an average total compensation of $46,000 based on 58 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Financial Aid Director with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $60,000 based on 90 salaries. An experienced Financial Aid Director which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $73,000 based on 88 salaries. A Financial Aid Director with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $70,000 based on 51 salaries.
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Key Stats for Financial Aid Director
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