Financial Aid Director Job Profile and Description
The financial aid director meets and communicates with both prospective and current students for guiding and helping them with a financial aid application. The financial aid director also provides guidance throughout the student’s tome span in the university.
The position reports to the president or the chairman of the university or educational institution. With the time and access, a financial aid director is often asked for inputs regarding a university’s processes and policies.
Financial Aid Director Duties and Responsibilities
The typical duties and responsibilities that a financial director has to discharge are as follows:
- Checking the loan agreements for ensuring they are accurate and complete as per the policies.
- Maintaining and reviewing the account record, updating and re-categorizing them as per the status changes.
- Analyzing the credit, financial status and property evaluations for determining the feasibility for granting loans.
- Helping in the selection of the financial award candidates by using electronic databases for certifying the loan eligibility.
- Approving loans within the specified limits.
- Submitting loan applications before credit analysts for due verification and recommendation.
- Supervising the loan personnel.
- Calculating the amount of funds and debt available for planning the methods of payoff and for estimating the debt liquidation.
- Maintaining the current knowledge of all credit regulations.
Financial Aid Director Skills and Specifications
The typical skills and specifications required from a financial aid director include the following:
- Establishing goals and work standards and evaluating the program results.
- Developing effective and creative techniques for informing the prospective students regarding availability of financial aid.
- Planning, assigning and supervising the work of the assigned staff.
- Preparing comprehensive, clear and accurate presentations and reports.
- Developing and maintaining the budget for the assigned office.
- Communicating effectively with individuals from a cross-section of backgrounds.
- Establishing and maintaining effective relationship with staff, students and faculty, administrators and representatives from other jurisdictions.
- Work with discretion and confidentially.
- Providing training in various financial aid procedures.
Financial Aid Director Education and Qualification
Common educational qualifications required from a financial aid director are as follows:
- MBA in finance from an accredited university or college. A post secondary diploma would also suffice.
- At least 15 years’ of work experience in a similar field.
Financial Aid Director Salary
A financial aid director can command a salary of about $97,200 including bonus and perks. Salary increases with experience.