What Does a Financial Aid Specialist Do?
A financial aid specialist helps students and their families navigate the financial aid process by reviewing applications, verifying documentation, and awarding eligible funding. Working in colleges, universities, or vocational schools, these professionals ensure students receive the support they need to fund their education while maintaining compliance with federal and state regulations.
Financial aid specialists play a critical role in student retention and access to education. They are responsible for maintaining accurate records, resolving aid issues, and providing guidance on available funding sources, including grants, loans, work-study programs, and scholarships.
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Financial Aid Specialist Core Responsibilities
- Review, verify, and process financial aid applications in accordance with Title IV and institutional guidelines
- Advise students and families on financial aid eligibility, deadlines, and requirements
- Use student information systems (e.g., Banner, PeopleSoft) to manage and update aid records
- Review FAFSA submissions and determine aid eligibility using federal methodology
- Track and follow up on missing or incomplete documentation
- Assist with loan origination, grant disbursement, and refund processing
- Conduct financial aid workshops or one-on-one counseling sessions
- Ensure compliance with federal and state regulations through accurate documentation
- Support audits and reporting requirements by maintaining detailed records
- Collaborate with admissions, student accounts, and academic advising departments
Required Skills and Qualifications
Hard skills
- Working knowledge of FAFSA, Title IV aid programs, and student eligibility criteria
- Proficiency in student information systems (e.g., Banner, Ellucian, PeopleSoft)
- Familiarity with verification, satisfactory academic progress (SAP), and aid disbursement rules
Soft skills
- Clear and empathetic communication with students and families
- High level of accuracy and attention to detail
- Ability to manage sensitive financial data with confidentiality
- Problem-solving and critical thinking under regulatory constraints
Education
- Associate’s degree in finance, education, public administration, or related field (required)
- Bachelor’s degree preferred
Preferred Qualifications
- 2+ years of experience in a financial aid office or student services role
- Bilingual skills for serving diverse student populations
- Familiarity with NASFAA standards and credentialing programs
- Experience conducting financial literacy education or group presentations
National Average Salary
Financial aid specialist salaries vary by experience, industry, organization size, and geography. Click below to explore salaries by local market.
The average national salary for a Financial Aid Specialist is:
$49,144
Sample Job Description Templates for Financial Aid Specialists
Verification Specialist
Position Overview
We are seeking a Verification Specialist to manage the review of student-submitted financial aid documents in accordance with federal and institutional policies. This role ensures data integrity, prevents aid errors, and supports timely awarding by confirming the accuracy of information on FAFSA submissions.
Responsibilities
- Review income tax returns, W-2s, household information, and other supporting documents
- Match FAFSA data with verification materials to identify discrepancies
- Communicate missing or inconsistent data to students clearly and promptly
- Maintain thorough documentation of all verification activity for audit readiness
- Use student information systems to update records and complete verification flags
- Ensure compliance with Title IV requirements and institutional procedures
- Collaborate with counselors and processors to ensure accurate aid packaging
Requirements
Hard skills
- Knowledge of federal verification processes and data elements
- Proficiency with SIS and document imaging systems
- Understanding of dependency status, income types, and asset assessment
Soft skills
- High attention to detail and pattern recognition
- Clear, professional communication
- Ability to manage repetitive tasks with accuracy
Education
- Associate’s degree required; Bachelor’s preferred
Preferred Qualifications
- 1–2 years of experience in a financial aid or verification-specific role
- Experience with Federal Student Aid (FSA) systems
Student Loan Counselor
Position Overview
We are hiring a Student Loan Counselor to provide guidance to students on borrowing, loan repayment, and long-term financial wellness. This role supports responsible borrowing practices and ensures students understand the impact of federal and private loans.
Responsibilities
- Advise students and families on loan options, eligibility, and application procedures
- Help students plan for repayment, deferment, and loan forgiveness options
- Conduct entrance and exit counseling sessions
- Monitor loan default indicators and support at-risk borrowers
- Maintain documentation for audit purposes and Title IV compliance
- Coordinate with loan servicers and internal staff for issue resolution
- Lead financial literacy workshops focused on debt management
Requirements
Hard skills
- Understanding of federal student loan programs and repayment plans
- Familiarity with NSLDS, COD, and loan servicer portals
- Experience with financial counseling tools or budgeting software
Soft skills
- Strong advising and coaching abilities
- Ability to build trust with students from diverse backgrounds
- Patient and solution-oriented approach
Education
- Associate’s degree required; Bachelor’s preferred
Preferred Qualifications
- Background in counseling, student services, or financial wellness education
- NASFAA credential in student loan counseling is a plus
Financial Aid Appeals Coordinator
Position Overview
We are looking for a Financial Aid Appeals Coordinator to review and process student appeals related to financial aid eligibility. This role ensures that students facing special circumstances are evaluated fairly, consistently, and within compliance guidelines.
Responsibilities
- Review student appeals for loss of income, dependency overrides, or SAP issues
- Interpret federal and institutional guidelines to determine appeal outcomes
- Work with students to collect supporting documentation
- Communicate appeal decisions clearly and empathetically
- Track appeal timelines and notify students of additional steps
- Maintain organized records for audits and compliance reviews
- Train staff on appeal policies and updates
Requirements
Hard skills
- Familiarity with professional judgment and special circumstance processing
- Proficiency with student information systems and document tracking
- Understanding of Satisfactory Academic Progress (SAP) requirements
Soft skills
- Discretion, empathy, and fairness in decision-making
- Strong written communication and documentation
- Conflict resolution and time-sensitive responsiveness
Education
- Associate’s degree required; Bachelor’s preferred
Preferred Qualifications
- 2+ years in a financial aid role involving professional judgment
- Experience presenting appeals cases during compliance reviews
Financial Aid Compliance Officer
Position Overview
We are hiring a Financial Aid Compliance Officer to oversee adherence to federal, state, and institutional aid regulations. This role ensures that all financial aid processes are audit-ready, error-free, and fully aligned with Title IV and accreditation requirements.
Responsibilities
- Monitor policy implementation and regulatory changes affecting aid operations
- Audit aid files, awarding practices, and communication templates for compliance
- Prepare and support federal and state audits or program reviews
- Maintain internal controls and recommend policy updates
- Provide training to financial aid staff on regulatory best practices
- Coordinate with IT and data teams to ensure accurate reporting (e.g., IPEDS, FISAP)
Requirements
Hard skills
- Deep knowledge of Title IV programs and audit procedures
- Experience with data validation, reporting, and compliance tracking
- Familiarity with EDConnect, COD, NSLDS, and SIS platforms
Soft skills
- Analytical thinker with strong attention to regulatory detail
- Effective communicator across technical and administrative audiences
- Ability to create structure in complex environments
Education
- Associate’s degree required; Bachelor’s preferred
Preferred Qualifications
- 3+ years of experience in financial aid compliance or audit prep
- NASFAA or FSA training in program review readiness
Financial Aid Outreach Specialist
Position Overview
We are seeking a Financial Aid Outreach Specialist to educate current and prospective students about available financial aid resources. This position plays a key role in promoting access, increasing FAFSA completion rates, and supporting enrollment efforts through workshops, presentations, and community events.
Responsibilities
- Plan and deliver financial aid workshops, FAFSA nights, and Q&A sessions
- Collaborate with admissions and high school counselors for outreach programs
- Develop print and digital materials explaining aid processes and deadlines
- Represent the institution at college fairs and financial aid info sessions
- Track outreach engagement and report on participation metrics
- Assist students one-on-one with FAFSA completion and documentation prep
Requirements
Hard skills
- Strong understanding of FAFSA, Pell Grants, and aid application workflows
- Experience developing educational content and outreach materials
- Proficiency with basic marketing tools and platforms
Soft skills
- Public speaking and group facilitation
- Culturally responsive communication
- Enthusiastic, student-focused mindset
Education
- Associate’s degree required; Bachelor’s preferred
Preferred Qualifications
- Experience working with first-generation or underserved student populations
- Bilingual abilities highly preferred