What does a Financial Aid Counselor do?
Published 4 min read
A financial aid counselor helps students and their families understand and navigate the financial aid process. They work with students to complete the Free Application for Federal Student Aid (FAFSA) and provide information about other types of financial aid, such as scholarships, grants, and loans. Financial aid counselors also help students understand the terms and conditions of their financial aid awards and advise them on how to manage their money while in school.
Financial Aid Counselor job duties include:
- Advise students and parents on financial aid process and eligibility
- Assist in the completion of financial aid applications
- Determine eligibility for federal, state, and institutional aid programs
- Calculate awards based on student need and program guidelines
- Notify students of award packages and disbursement of funds
- Monitor student progress to ensure continued eligibility for aid
- Assist with loan entrance and exit counseling sessions
- Work with students who have defaulted on their loans to develop repayment plans
- Refer students to other campus resources as needed
Financial Aid Counselor Job Requirements
A financial aid counselor typically needs a bachelor's degree, although some employers may prefer or require a master's degree. Certification is available but not always required. Financial aid counselors usually need several years of experience working in the financial aid field before they can advance to a senior-level position.
Financial Aid Counselor Skills
- Finance
- Financial aid
- Scholarships
- Grants
- Loans
- Budgeting
- Money management
- Financial planning
- Student loans
- College planning
- Career planning
- Educational counseling
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How to become a Financial Aid Counselor
The first step to becoming a financial aid counselor is to complete your undergraduate degree. Many financial aid counselors have a bachelor’s degree in finance, accounting, or a related field. Once you have completed your undergraduate degree, you should consider pursuing a master’s degree in financial counseling or a related field.
While completing your undergraduate or graduate degree, you should also look for internships or entry-level jobs in the financial aid office of a college or university. These experiences will help you learn more about the financial aid process and gain valuable experience working with students and their families.
After completing your education and gaining some experience, you can start looking for full-time positions as a financial aid counselor. Many financial aid counselors work for colleges and universities, but there are also opportunities to work for private companies or nonprofit organizations.
When working as a financial aid counselor, you will be responsible for helping students and their families navigate the financial aid process. This includes providing information about different types of financial aid, assisting with the completion of financial aid applications, and answering questions about the process. You will also need to stay up-to-date on changes in financial aid regulations and requirements.
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