What does a finance aid advisor do?
A finance aid advisor specializes in helping clients, mostly students and parents, understand financial aid programs available in learning institutions. They primarily provide advice, such as which programs will suit the students' needs, their requirements, or how the procedures will be. To carry out their duties, a finance aid advisor must conduct interviews with students, assess their background information and financial histories, respond to inquiries and concerns, review financial aid requests, perform extensive research and analysis, and coordinate different services while adhering to the institutions' policies and regulations.
Finance aid advisor responsibilities
Here are examples of responsibilities from real finance aid advisor resumes:
- Manage project for the development and implementation of a university-wide scholarship database, STAARS.
- Review incoming student ISIR, notifying students of the required documents need to complete the financial aid process.
- Assemble files according to school and distribute to designate coordinators.
- Perform cross-selling of banking products to help maximize company's profits.
- Work with Microsoft office as well as internet and campus vue database.
- Assist with collection and verification of PELL intake forms at the front counter.
- Initiate problem solving and cross-selling bank relate services in a call center environment.
- Monitor NSLDS reporting activity; monitor wages earn to prevent students exceeding their award.
- Import ISIR's on a daily basis for students who have been admit to SJC.
- Learned the software, CampusVue, and ensure that the financial aid are properly originated/award.
- Receive and process mortgages, HELOC's, personal and commercial loans as well as annuities.
- Originate loans, create disbursements, and print miscellaneous reports and financial aid information in EdExpress database.
- Monitor NSLDS to check students who previously attend college as well as responded to student queries and counsele them when need.
- Maintain student financial confidentiality through FERPA regulation.
- Process Pell payments electronically, while resolving applicable errors.
Finance aid advisor skills and personality traits
We calculated that 16% of Finance Aid Advisors are proficient in Financial Aid, Customer Service, and FAFSA. They’re also known for soft skills such as Computer skills, Interpersonal skills, and Organizational skills.
We break down the percentage of Finance Aid Advisors that have these skills listed on their resume here:
- Financial Aid, 16%
Counseled and advised students regarding available student financial aid opportunities, reviewed eligibility requirements and assisted with the federal application process.
- Customer Service, 15%
Created monthly customer service leadership/communication publication.
- FAFSA, 6%
Assisted students in proper completion/modification of FAFSA application and other required documentation, including loan applications and institutional forms.
- Financial Aid Programs, 5%
Advised students and parents regarding the availability of financial aid programs, eligibility requirements, and information on the application process.
- Student Loans, 4%
Counseled students on financial strategy and responsibility concerning financial aid and student loans; increasing graduation rates.
- Title IV, 4%
Audited files, ensured students met eligibility requirements for Title IV programs including completing verification and resolving c-codes.
"financial aid," "customer service," and "fafsa" are among the most common skills that finance aid advisors use at work. You can find even more finance aid advisor responsibilities below, including:
Computer skills. The most essential soft skill for a finance aid advisor to carry out their responsibilities is computer skills. This skill is important for the role because "postsecondary education administrators need to be comfortable working with computers so they can use software to manage student and school records." Additionally, a finance aid advisor resume shows how their duties depend on computer skills: "prepare and maintain manual and computerized permanent records and filesof financial assistance awarded to students. "
Interpersonal skills. Many finance aid advisor duties rely on interpersonal skills. "postsecondary education administrators need to build good relationships with colleagues, students, and parents," so a finance aid advisor will need this skill often in their role. This resume example is just one of many ways finance aid advisor responsibilities rely on interpersonal skills: "trained work-study students in the area of interpersonal, communication and customer service skills. "
Organizational skills. finance aid advisors are also known for organizational skills, which are critical to their duties. You can see how this skill relates to finance aid advisor responsibilities, because "administrators need to be organized so they can manage records, prioritize tasks, and coordinate activities with their staff." A finance aid advisor resume example shows how organizational skills is used in the workplace: "disseminated information to financial aid liaisons by attending meetings and providing updates regarding changes in regulations and organizational policies. "
Problem-solving skills. finance aid advisor responsibilities often require "problem-solving skills." The duties that rely on this skill are shown by the fact that "administrators need to react calmly when a difficult situation arises and develop creative solutions." This resume example shows what finance aid advisors do with problem-solving skills on a typical day: "provided assistance, solutions and educated students and parents with questions or concerns regarding financial assistance. "
The three companies that hire the most finance aid advisors are:
- University of St. Augustine for Health Sciences56 finance aid advisors jobs
- Universal Technical Institute8 finance aid advisors jobs
- Bryant & Stratton College7 finance aid advisors jobs
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Compare different finance aid advisors
Finance aid advisor vs. Mortgage loan counselor
These skill sets are where the common ground ends though. The responsibilities of a finance aid advisor are more likely to require skills like "financial aid," "fafsa," "financial aid programs," and "student loans." On the other hand, a job as a mortgage loan counselor requires skills like "fha," "loan process," "payment arrangements," and "loan modifications." As you can see, what employees do in each career varies considerably.
Mortgage loan counselors tend to reach lower levels of education than finance aid advisors. In fact, mortgage loan counselors are 6.6% less likely to graduate with a Master's Degree and 0.5% less likely to have a Doctoral Degree.Finance aid advisor vs. Farm mortgage agent
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that finance aid advisor responsibilities requires skills like "financial aid," "customer service," "fafsa," and "financial aid programs." But a farm mortgage agent might use other skills in their typical duties, such as, "real estate," "mortgage loans," "fha," and "mortgage products."
Average education levels between the two professions vary. Farm mortgage agents tend to reach similar levels of education than finance aid advisors. In fact, they're 2.2% less likely to graduate with a Master's Degree and 0.5% less likely to earn a Doctoral Degree.Finance aid advisor vs. Loan counselor
The required skills of the two careers differ considerably. For example, finance aid advisors are more likely to have skills like "financial aid," "customer service," "fafsa," and "financial aid programs." But a loan counselor is more likely to have skills like "phone calls," "payment arrangements," "outbound collection calls," and "fdcpa."
Loan counselors earn the best pay in the finance industry, where they command an average salary of $49,414. Finance aid advisors earn the highest pay from the education industry, with an average salary of $38,318.loan counselors typically earn lower educational levels compared to finance aid advisors. Specifically, they're 5.4% less likely to graduate with a Master's Degree, and 0.1% less likely to earn a Doctoral Degree.Finance aid advisor vs. Mortgage counselor
Even though a few skill sets overlap between finance aid advisors and mortgage counselors, there are some differences that are important to note. For one, a finance aid advisor might have more use for skills like "financial aid," "fafsa," "financial aid programs," and "student loans." Meanwhile, some responsibilities of mortgage counselors require skills like "mortgage loans," "foreclosure," "fha," and "va."
In general, mortgage counselors hold similar degree levels compared to finance aid advisors. Mortgage counselors are 3.1% less likely to earn their Master's Degree and 0.7% more likely to graduate with a Doctoral Degree.Types of finance aid advisor
Updated January 8, 2025
