Financial aid challenges are a critical issue in higher education. They create barriers to educational attainment and career success for millions of aspiring post-secondary and graduate students.
Higher education leaders, such as directors of financial aid, play a unique role in addressing these challenges by leveraging all potential resources when compiling financial aid packages, implementing data-driven financial aid optimization software and processes, and helping students access the numerous resources available. Future education leaders who want to help students navigate financial aid may benefit from training in a specialized degree program, such as the Southern Oregon University (SOU) online Master of Science in Education (MSEd) with a Concentration in Leadership in Higher Education program.
Understanding and Addressing Financial Aid Challenges in Higher Education
Directors of financial aid and other higher education leaders must understand financial aid challenges affecting students, including wealth discrepancies and beyond. Other obstacles include technical problems with FAFSA rollouts, confusion and transparency around education costs, and a lack of insight into available grants and scholarships.
Method Learning offers practical advice applicable to students in the financial aid process and those supporting them. Students need to stay informed by following information from colleges and FAFSA for the latest updates. As an article from the American Institutes for Research (AIR) explains, “Research shows that high school students who complete a FAFSA, or free application for federal student aid, are significantly more likely to enroll and remain in college than students who do not.”
The Bipartisan Policy Center released an article on disparities in campus-based aid, such as federal grants provided through FAFSA. As they explain, colleges that have participated in aid programs for a longer time tend to be favored, whereas newer schools or those with decreased enrollment receive smaller allocations.
What is difficult about this system is that it means “current campus-based aid allocations do not target institutions serving the largest number of low-income students.” Low-income students, therefore, need as much extra oversight as possible from financial aid offices and their leadership to access coveted aid and achieve their higher education dreams. Financial aid directors can work to ensure their office effectively assists students with understanding these and other financial aid opportunities and awards and any other related questions they may have.
Directors of financial aid should be able to lead efforts to recommend financial aid options, including private, school-wide and state-wide grants and awards. These offer additional ways to raise money for schooling aside from federal funds and loans. As the main authority on “financial aid strategies, processes, and regulations,” financial aid directors are also equipped to work “with students, faculty, and staff to develop individualized financial aid plans,” per the California Association of Community Managers.
Develop Leadership Skills in an Online MSEd Program to Address Higher Education Issues
So, how should higher education leaders, like financial aid directors, as well as other leaders like admissions counselors and deans, support their students in this tricky process? The first route forward is through educating themselves. These leaders cannot offer proper guidance without fully understanding financial aid challenges, how to navigate them and students’ experience in the financial aid journey.
The online MSEd – Leadership in Higher Education program from SOU focuses on developing problem-solving, critical thinking, empathy and collaborative skills, all of which are invaluable when addressing sensitive needs like financial aid for students. In addition, program courses cover topics such as professional ethics, higher education systems and strategies for student support and include applied learning that connects insights to systems, policies and reform, giving graduates a head start in providing this crucial care and enabling them to feel the real-world impact of their learning.
SOU graduates have gone on to lead financial aid reform, implement equity audits and shape state aid policies. If you are interested in helping students discover and apply for the financial aid options that make higher learning possible, this degree and a role like director of financial aid might be ideal.
Learn more about SOU’s online MSEd with a Concentration in Leadership in Higher Education program.
