Financial Aid Salaries
The National Association of Student Financial Aid Administrators recently completed a salary survey of financial aid officers from around the country. The survey consists of responses from 3,179 personnel employed at roughly 1,075 colleges and universities.
Over the last 10 years, financial aid directors received a 7% increase in salary as compared with a 29.2% increase in the urban Consumer Price Index. The median salary for directors in 2007 was $62,800. A breakdown between public and private institutions showed that four year public colleges and universities paid financial aid directors an average salary of $74,110 while private universities averaged almost $13,000 less at $61,000.
Financial aid counselors made much less than directors with a median salary of $35,000 in 2007. Public colleges and universities paid the counselors on average $4,000 more than those at private institutions.
Some other information included in the survey included demographics and professional experience for those employed in financial aid offices. Approximately 73% of aid professionals have a bachelor’s degree or higher and roughly 12 years of professional experience. The career is overwhelmingly female with 80% of financial aid officers being women.
For more information on financial aid salary survey, visit the NASFAA website.
Student Loan Watcher @ July 3, 2008