Financial aid counselors assist students and parents with financial aid forms and distribution of financial aid. A bachelor’s degree and two years of experience are required. They must have extensive knowledge of financial aid requirements and laws and enjoy working with people.
A financial aid counselor works at a school or university and usually works directly with students and parents, assisting in completing financial aid forms and making discretionary judgments about distributing financial aid to help pay for education costs. Generally, someone wanting to be a financial aid counselor is required to have a bachelor’s degree in the humanities or a related field, as well as at least two years of experience in financial aid or counseling. This job requires a high level of attention to detail as well as extensive knowledge of various financial aid requirements and laws.
On a daily basis, a financial aid counselor meets with students or parents/guardians for a variety of reasons. Initially, a student may have questions about eligibility for financial aid or the various types of financial aid available. The advisor will need to be able to assess a student’s needs and eligibility based on the information and financial data provided and can then explain the differences between grants, loans or scholarships, whether from the government, university or school or a private party.
A financial aid counselor can help students complete financial aid forms. He or she may meet with students one-on-one or in a workshop-type setting to help prepare a larger group of students for higher education. The counselor will need to remain available after applications are submitted in order to answer any questions or help resolve any issues that may arise between the aid recipient and creditors or grant givers.
Some college financial aid counselors are able to make decisions about financial aid disbursement to individual students based on need or extenuating circumstances. Other tasks may include regularly checking that students are meeting educational or financial requirements that make them eligible for financial aid; if a student’s grades drop, for example, he or she may become ineligible for a particular scholarship or aid program.
It is important that a financial aid counselor enjoy working with people. The job requires a lot of interaction with students and caregivers, and the counselor must be able to clearly explain complex financial concepts. It will likely be necessary to work as an assistant in a school’s financial aid department before one can become a financial aid counselor, to ensure a solid understanding of laws and procedures.
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