Exploring Careers in Higher Education Financial Aid
Discover the diverse opportunities in financial aid careers within higher education institutions and beyond. Learn about the skills, professional development resources, job trends, challenges, and financial literacy issues faced in this field. Explore ways to prepare for and excel in a career in financial aid administration.
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Presentation Transcript
Collaborative Presentation Project on Higher Education Careers: Financial Aid Laura Anderson Bert McBrayer Andrea Turcatti Will Wellein Alana Loht Penn State World Campus Penn State World Campus
Careers in Financial Aid Many Opportunities Educational Institutions State Agencies Private Lenders Financial Literacy Fraud Investigation Penn State World Campus
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 Penn State World Campus
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 Penn State World Campus
Professional Development Professional associations o Association of Student Financial Aid Administrators o The College Board s Financial Aid Assembly o National Direct Student Loan Coalition Professional journals/publications o NASFAA s Today s News o Inside Higher Education o The Chronicle of Higher Education o Trends in Higher Education NASFAA University Conferences Penn State World Campus
Job Trends and Changes 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 Penn State World Campus
Challenges & Financial Literacy Federal regulations Tuition costs and debt Financial Literacy PENN STATE UNIVERSITY PARK: UNDERGRADUATE LOWER DIVISION PER CREDIT TUITION RATES $800 $700 $600 $500 $400 $300 $200 $100 $- source: http://tuition.psu.edu Penn State World Campus
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. Penn State World Campus
Thank You for Attending! Questions? Penn State World Campus Penn State World Campus
