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Collaborative Presentation Project on Higher Education Careers:

Financial Aid

Laura Anderson Alana LohtBert McBrayer Andrea Turcatti

Will Wellein

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Careers in Financial Aid

• Educational Institutions• State Agencies• Private Lenders• Financial Literacy• Fraud Investigation

Many Opportunities…

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Career Preparation

• Work study or internship

• Higher education experience

• Counseling and customer service

• College Board Institute on Financial Aid

• Financial aid association boot camp

• NAFSAA website

• Federal Student Aid workshops

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Skills, Academic Background, & Knowledge

• “The field of financial aid administration is challenging and requires a skill set not often taught in school” (AAMC, 2014, p. 19)• No specific academic background or degree, but…• Up-to-date understanding of federal/state regulations, current

events, the economy, and politics that can impact financial aid

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Professional Development

• Professional associationso Association of Student Financial Aid Administratorso The College Board’s Financial Aid Assemblyo National Direct Student Loan Coalition

• Professional journals/publicationso NASFAA’s “Today’s News”o Inside Higher Educationo The Chronicle of Higher Educationo Trends in Higher Education

• NASFAA University

• Conferences

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Trend

• 20% decrease in Financial Aid job postings

• Job market strong and stable

• Projected growth 15% (2012 – 2022)

Changes

• Increase in regulations

• Reporting requirements and verification procedures more complicated

• Technology

Job Trends and Changes

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Challenges & Financial Literacy

• Federal regulations• Tuition costs and debt • Financial Literacy

1997

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2014 $-

$100

$200

$300

$400

$500

$600

$700

$800

Penn State University Park: Undergraduate Lower Division Per Credit

Tuition Rates

source: http://tuition.psu.edu

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References

• Association of American Medical Colleges (AAMC). (2014). Handbook for Financial Aid Officers (pp. 16-20). Retrieved from https://www.aamc.org/download/145406/data/faohandbook_roles.pdf

• Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition, Postsecondary Education Administrators, on the Internet at http://www.bls.gov/ooh/management/postsecondary-education-administrators.htm (visited October 21, 2014)

• Dorsey, Sarah. (2014, October 21). Personal communication.

• HigherEdJobs. (2014, November 21). Career Tools. Higher Education Employment Report. Retrieved from http://www.higheredjobs.com/documents/HEJ_News_Release_Q2_2014.pdf

• O’Leary, Eileen (2014 October 27). Personal communication.

• (n.d.). Retrieved July 31, 2013 and November 25, 2014, from http://tuition.psu.edu/default.aspx

• National Association of Student Financial Aid Administrators. (n.d.). Retrieved November 23, 2014 from http://www.nasfaa.org/university/

• Reynolds, Angela. (2014 October 23). Personal communication.

• Rizk, Daad. (2014 September 30). Personal communication.

• Salary.com. (2014, November 21). Financial Aid Director - Higher Ed. Salaries. Retrieved from http://www1.salary.com/Financial-Aid-Director-Higher-Ed-Salary.html

• Salary.com. (2014, November 21). Financial Aid Counselor - Higher Ed. Salaries. Retrieved from http://www1.salary.com/Financial-Aid-Counselor-Higher-Ed-Salary.html

• SimplyHired. (2014, November 5). Financial Aid Job Trends. Retrieved from http://www.simplyhired.com/a/jobtrends/trend/q-financial+aid

• Zipf, Sarah (2014 October 21). Personal communication.

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Questions?

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