penn state world campus collaborative presentation project on higher education careers: financial...
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Penn State World CampusPenn State World Campus
Collaborative Presentation Project on Higher Education Careers:
Financial Aid
Laura Anderson Alana LohtBert McBrayer Andrea Turcatti
Will Wellein
Penn State World Campus
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
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
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?
Thank You for Attending!