A finance aid director oversees finance aid officers that deal with student loans, fees, scholarship grants, insurance, and other loans. They organize cash flow for all funds available. They analyze applications, grant scholarships and loans to students, and provide information on benefits and restrictions included with financial aid. They also help students resolve loan defaults or underpayments. They must have good communication skills to facilitate talks between students and universities.

Finance Aid Director Responsibilities

Here are examples of responsibilities from real finance aid director resumes representing typical tasks they are likely to perform in their roles.

  • Manage cash flow for all funds including, FFEL, PELL, FSEOG, alternative loans, and cash.
  • Manage a majority of payroll ensuring that there are accurate accruals and necessary deductions.
  • Assist students, parents, and staff with navigating the financial aid process, by providing guidance with the FAFSA.
  • Serve as VA certifying official to counsel veterans on various VA educational programs available.
  • Work with veterans and educational benefits.
  • Maintain Pell grant accounts from application processing to monthly reconciliation.
  • Process and educate military and veterans on domicile laws relate to tuition and tuition assistance.
  • Conduct one-on-one financial aid appointments with prospective students to educate them about available financial opportunities, budgeting and general financial literacy.
  • Provide financial leadership and technical advice, improving working capital performance and assuring all transactions are properly record and GAAP compliant.
  • Originate loans, create disbursements, and print miscellaneous reports and financial aid information in EdExpress database.
Finance Aid Director Traits
Computer skills involves understanding how to operate a computer, as well as computer programs and applications.
Problem-solving skills is the way that one is able to effectively solve a problem in a timely manner.
Organizational skills are essential to working as efficiently as possible through being able to focus on projects at hand while also keeping a clean workspace.

Finance Aid Director Job Description

When it comes to understanding what a finance aid director does, you may be wondering, "should I become a finance aid director?" The data included in this section may help you decide. Compared to other jobs, finance aid directors have a growth rate described as "faster than average" at 7% between the years 2018 - 2028, according to the Bureau of Labor Statistics. In fact, the number of finance aid director opportunities that are predicted to open up by 2028 is 13,500.

On average, the finance aid director annual salary is $65,871 per year, which translates to $31.67 an hour. Generally speaking, finance aid directors earn anywhere from $46,000 to $94,000 a year, which means that the top-earning finance aid directors make $48,000 more than the ones at the lower end of the spectrum.

Once you've become a finance aid director, you may be curious about what other opportunities are out there. Careers aren't one size fits all. For that reason, we discovered some other jobs that you may find appealing. Some jobs you might find interesting include a dean, student dean, new member educator, and registrar.

Finance Aid Director Jobs You Might Like

Finance Aid Director Resume Examples

Finance Aid Director Skills and Personality Traits

We calculated that 35% of Finance Aid Directors are proficient in Financial Aid, Title IV, and Procedures. They’re also known for soft skills such as Computer skills, Problem-solving skills, and Organizational skills.

We break down the percentage of Finance Aid Directors that have these skills listed on their resume here:

  • Financial Aid, 35%

    Assisted the financial aid coordinator in advising students and parents regarding the application process and eligibility for federal aid programs.

  • Title IV, 5%

    Enhanced Student Finance operations to include automated Title IV packaging, digital imagining, and electronic scholarship management software.

  • Procedures, 5%

    Performed company-wide analysis of procedures and implemented both software and personnel changes to increase productivity while reducing duplicitous tasks.

  • Ensure Compliance, 4%

    Audited Financial Aid files periodically to ensure compliance requirements are met.

  • State Regulations, 3%

    Administer all aspects of the OVR program through all eligible states to remain in compliance with current state regulations.

  • Enrollment Management, 3%

    Work closely with Enrollment Management to articulate affordability to prospective and current students.

Some of the skills we found on finance aid director resumes included "financial aid," "title iv," and "procedures." We have detailed the most important finance aid director responsibilities below.

  • Arguably the most important personality trait for a finance aid director to have happens to be computer skills. An example from a resume said this about the skill, "postsecondary education administrators need to be comfortable working with computers so they can use software to manage student and school records." Additionally, other resumes have pointed out that finance aid directors can use computer skills to "correct computer-generated awards by reviewing edit reports for seog and fws and making adjustment. "
  • Another trait important for fulfilling finance aid director duties is problem-solving skills. According to a finance aid director resume, "administrators need to react calmly when a difficult situation arises and develop creative solutions." Here's an example of how finance aid directors are able to utilize problem-solving skills: "conducted entrance and exit interviews, completed the verification process, resolved c codes. "
  • Another skill that is quite popular among finance aid directors is organizational skills. This skill is very critical to fulfilling every day responsibilities as is shown in this example from a finance aid director resume: "administrators need to be organized so they can manage records, prioritize tasks, and coordinate activities with their staff." This example from a resume shows how this skill is used: "collaborated with superintendent, assistant superintendent, and other administrators ensuring organizational compliance, policies, and procedures. "
  • A finance aid director responsibilities sometimes require "interpersonal skills." The responsibilities that rely on this skills are shown by this resume excerpt: "postsecondary education administrators need to build good relationships with colleagues, students, and parents" This resume example shows how this skill is used by finance aid directors: "practice strong customer service, interpersonal, organizational, and communication skills. "
  • See the full list of finance aid director skills.

    After discovering the most helpful skills, we moved onto what kind of education might be helpful in becoming a finance aid director. We found that 62.6% of finance aid directors have graduated with a bachelor's degree and 15.8% of people in this position have earned their master's degrees. While most finance aid directors have a college degree, you may find it's also true that generally it's possible to be successful in this career with only a high school degree. In fact, our research shows that one out of every eight finance aid directors were not college graduates.

    Those finance aid directors who do attend college, typically earn either a business degree or a accounting degree. Less commonly earned degrees for finance aid directors include a psychology degree or a finance degree.

    When you're ready to become a finance aid director, you might wonder which companies hire finance aid directors. According to our research through finance aid director resumes, finance aid directors are mostly hired by Stanford University, Baltimore City Public Schools, and Des Moines Area Community College. Now is a good time to apply as Stanford University has 2 finance aid directors job openings, and there are 1 at Baltimore City Public Schools and 1 at Des Moines Area Community College.

    View more details on finance aid director salaries across the United States.

    In general, finance aid directors fulfill roles in the education and non profits industries. While employment numbers are high in those industries, the finance aid director annual salary is the highest in the technology industry with $80,307 as the average salary. Meanwhile, the manufacturing and health care industries pay $76,299 and $65,874 respectively. This means that finance aid directors who are employed in the technology industry make 75.0% more than finance aid directors who work in the education Industry.

    The three companies that hire the most prestigious finance aid directors are:

      What Deans Do

      A dean is responsible for overseeing the educational operations of the assigned department, enforcing school policies, and monitoring the students' progress by coordinating with the teachers and setting up procedures to improve teaching methods. Deans administer educational training and programs for the students, as well as extra-curricular activities to develop the students' social behavior, maximize their potentials, and increase their self-confidence. They also handle the department's budget, accurately allocating resources and funds to different activities and educational materials.

      In this section, we take a look at the annual salaries of other professions. Take dean for example. On average, the deans annual salary is $21,226 higher than what finance aid directors make on average every year.

      While their salaries may differ, one common ground between finance aid directors and deans are a few of the skills required in each craft. In both careers, employees bring forth skills like financial aid, enrollment management, and staff members.

      As far as similarities go, this is where it ends because a finance aid director responsibility requires skills such as "title iv," "procedures," "ensure compliance," and "state regulations." Whereas a dean is skilled in "online," "student learning," "professional development," and "deans." So if you're looking for what truly separates the two careers, you've found it.

      Deans tend to make the most money in the health care industry by averaging a salary of $91,447. In contrast, finance aid directors make the biggest average salary of $80,307 in the technology industry.

      The education levels that deans earn is a bit different than that of finance aid directors. In particular, deans are 7.2% less likely to graduate with a Master's Degree than a finance aid director. Additionally, they're 13.4% more likely to earn a Doctoral Degree.

      What Are The Duties Of a Student Dean?

      A Student Dean is focused on responding to students' needs at a college or university. They plan and direct university activities related to student services and campus life.

      The next role we're going to look at is the student dean profession. Typically, this position earns a lower pay. In fact, they earn a $1,804 lower salary than finance aid directors per year.

      While the salary may be different for these job positions, there is one similarity and that's a few of the skills needed to perform certain duties. We used info from lots of resumes to find that both finance aid directors and student deans are known to have skills such as "financial aid," "staff members," and "student records. "

      In addition to the difference in salary, there are some other key differences that are worth noting. For example, finance aid director responsibilities are more likely to require skills like "title iv," "procedures," "ensure compliance," and "state regulations." Meanwhile, a student dean might be skilled in areas such as "student learning," "behavioral issues," "professional development," and "crisis intervention." These differences highlight just how different the day-to-day in each role looks.

      Student deans may earn a lower salary than finance aid directors, but student deans earn the most pay in the government industry with an average salary of $57,004. On the other side of things, finance aid directors receive higher paychecks in the technology industry where they earn an average of $80,307.

      When it comes to the differences in education between the two professions, student deans tend to reach higher levels of education than finance aid directors. In fact, they're 18.6% more likely to graduate with a Master's Degree and 13.4% more likely to earn a Doctoral Degree.

      How a New Member Educator Compares

      A New Member Educator is a person who prepares new members to uphold the standards and ideals of a fraternity and sorority and continually strives to improve it especially found in colleges and universities. These positions are; educating initiated and active members on how to support and mentor the younger members to become successful within an organization, recruit new members whose ideals match those of the organization, assist new members to navigate campus, and make use of campus resources.

      The third profession we take a look at is new member educator. On an average scale, these workers bring in lower salaries than finance aid directors. In fact, they make a $34,213 lower salary per year.

      As mentioned, these two careers differ between other skills that are required for performing the work exceedingly well. For example, gathering from finance aid directors resumes, they are more likely to have skills like "financial aid," "title iv," "procedures," and "ensure compliance." But a new member educator might have skills like "customer service," "phone calls," "role model," and "product knowledge."

      New member educators make a very good living in the non profits industry with an average annual salary of $33,351. Whereas finance aid directors are paid the highest salary in the technology industry with the average being $80,307.

      New member educators are known to earn lower educational levels when compared to finance aid directors. Additionally, they're 20.2% less likely to graduate with a Master's Degree, and 1.0% less likely to earn a Doctoral Degree.

      Description Of a Registrar

      A registrar's role is to process and maintain accurate records within an institution or establishment. They are the main point of communication to obtain various kinds of information. In schools, a registrar is in charge of keeping a student or educator's academic, personal, and financial records. They also have the task of arranging a student's course and class schedules. Furthermore, a registrar may also have other administrative tasks such as responding to calls and other forms of correspondence, producing reports, and process requirements.

      Now, we'll look at registrars, who generally average a lower pay when compared to finance aid directors annual salary. In fact, the difference is about $21,413 per year.

      According to resumes from both finance aid directors and registrars, some of the skills necessary to complete the responsibilities of each role are similar. These skills include "enrollment management," "staff members," and "student records. "

      Each job requires different skills like "financial aid," "title iv," "procedures," and "ensure compliance," which might show up on a finance aid director resume. Whereas registrar might include skills like "customer service," "insurance companies," "medical records," and "patient care."

      In general, registrars make a higher salary in the health care industry with an average of $32,446. The highest finance aid director annual salary stems from the technology industry.

      In general, registrars reach lower levels of education when compared to finance aid directors resumes. Registrars are 16.4% less likely to earn their Master's Degree and 0.5% less likely to graduate with a Doctoral Degree.