Financial Aid Counselor: Training and Salary Information

(Last Updated On: September 2, 2021)

If you are looking for careers with a bachelor’s degree in psychology, then you might want to consider a job as a financial aid counselor. A financial aid counselor works in the financial aid office at colleges and universities. These individuals are responsible for filing, reviewing, verifying, and awarding financial aid packages to both new and continuing students. In addition to making award decisions, they also advise and counsel students who are interested in applying for financial assistance.

What Does a Financial Aid Counselor Do?

Some of the typical job duties include:

  • Determining budgets for student aid awards
  • Reviewing student aid applications
  • Awarding financial aid to students
  • Determining financial needs
  • Advising students of their eligibility for financial aid including grants and loans
  • Counsel students who are leaving school about their loan and aid return options
  • Advising students about their financial aid options
  • Education students about debt management and loan repayment

What Training Does a Financial Aid Counselor Need?

Minimum requirements for these positions are generally a bachelor’s degree, excellent communication skills, good organizational skills, and a willingness to travel periodically to conferences and other events. An understanding of Title IV and school institutional policies is also essential.

How Much Does a Financial Aid Counselor Earn?

Median annual salaries for financial aid counselors are around $35,000, with a high end salary of around $45,000 per year.