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Job Description
Basic Functions:
This position coordinates all activities related to the operation of the Federal Direct Loan Programs,Private Education Loan Programs, and Institutional Loan programs. This position is also responsible for overseeing the financial aid processfor Graduate Program students.
Reports to:
Sr Director Financial Aid Essential Duties andResponsibilities (include but are not limited to): Counsel students and parents about the various federal, private, andinstitutional loan programs, including eligibility, application process, and loan repayment. Certify and test the accuracy of theannual program setup of the Jenzabar JFA loan module and related tables needed for loan processing. Determine loan period datesand disbursement dates (EFT Schedule) in consultation with Bursar for loan programs. Validate borrower eligibility, verifyborrower has submitted a master promissory note and completed entrance/exit counseling, and originate student loan applications usingfederally mandated calculations and procedures to ensure accurate disbursement of loan funds. Create and maintain loancertification record of
COA, SAI, EFA
used to calculate loan amount in accordance with federal regulations. Maintain all aspectsof the college's electronic processes for participating in the Federal Direct Loan (COD) and Private Education Loan Programs (ScholarNet). Coordinate the electronic funds transfer process, which requires a working knowledge of cash management rules and regulations. Update loan disbursements, loan periods, and academic periods on students who cease enrollment, initiate the return of loan fundsto the lender, and notify borrowers of Direct Loan Exit Counseling requirements. Perform daily internal reconciliation on eachloan disbursement batch as received and monthly internal reconciliation with the Business Office to ensure institutional compliance and todemonstrate administrative capability as required by regulations. Performs monthly external reconciliation by ensuring WC'sinternal reconciliation records match the School Account Statements (SAS) Reports received via the U.S. Department of Education's CODsystem. Resolve any discrepancies in various loan programs/records. Often requires phone calls with the U.S. Department ofEducation's NSLDS or COD offices, Business Office, IT Department, or borrower or generating reports to resolve issue. PerformDirect Loan closeout procedures, which require year-end reconciliation with Business Office. Implement and manage an effectivedefault management program including Financial Literacy and Cohort Default Rate Reduction initiatives to maintain acceptable Cohort DefaultRate. Evaluate, establish, implement, and document policies and procedures that reflect institutional or regulatory changesrelated to the loan programs. Award Degree Completion Funds and Institutional Loan Funds, oversees the collection of PromissoryNotes, and assists the Office of Advancement with reporting requirements. Responsible for the timely completion of all Return toTitle IV (R2T4) calculations, ensuring the timely return of unearned funding, and sending required communication to students and StudentAccounts staff. Manage the transfer monitoring process within the National Student Loan Database System (NSLDS). Providefinancial aid counseling and determine financial aid eligibility, reviews supporting documentation, and awards aid funds to Graduate Programstudents in accordance with federal, state, and institutional policies. Perform federal verification of student aid applicationdata and resolves C-code flags and conflicting information discrepancies in accordance with federal, state, and institutional policies ongraduate files. Monitor financial aid awards for compliance and adjust awards as necessary to prevent over awards on graduatefiles. Generate financial aid award notifications, College Financing Plans, information request notifications, and FAFSAapplication reminders to Graduate Program students. Serves as the Primary Designation Point Administrator (DPA) for the officewhich includes assigning users access to the various SAIG electronic services and collecting and storing security agreements for all users. Enter departmental data and submit the annual FISAP Report to the U.S. Department of Education. Run Billing Batch Exporton loan batches and serve as back-up to other aid programs that need disbursed as well as the Anticipated Aid process. Sets up newaid funds in
JFA & J1
Fundmaster and notifies the Business Office of new aid funds. Seek to improve customer service throughoffice automation, working diligently with the IT Department to automate manual processes. Assist with the financial aid-relatedweb pages on the WC website, which includes ensuring information is up to date and creating new pages as needed. Assist with auditpreparation of files and materials. Develop and conduct Financial Aid presentations as requested. Serve as back-up toall staff positions as needed. Serve on campus committees as assigned. Attend annual conferences and/or participate inwebinars to stay current with the rules and regulations of Federal Financial Aid. Other duties as assigned.
Performance Standards:
Performs assigned responsibilities in an accurate, timely and effective manner with minimal supervisionand meets established timelines for special assignments. Exhibits requisite skills and knowledge and an appreciation forconfidentiality. Makes positive contributions to effective teamwork within the work unit and with other college departments. Strives for excellence in performance of responsibilities and in meeting needs of clients/students served. Knows and observescollege and departmental policies, guidelines and procedures.
Qualifications:
Related bachelor's degree. Experience with Microsoft Office Suite. Ability to work independently and as part of a team, multi-task, meet tight deadlines, andsuccessfully function within a fast-paced, high-volume dynamic environment in a variety of situations, while maintaining accuracy andattention to detail. Ability to solve technical issues, discover and resolve software errors and implement solutions. Excellent written and oral communication skills, detail-oriented, highly organized, able to balance priorities, takes initiative, reliableand resourceful. Strong commitment to enrollment management principles, customer service and teamwork.
PreferredQualifications:
At least 2+ years of related experience with higher education financial aid programs and knowledge of Federal andState financial aid regulations. Experience with Jenzabar JFA and J1 software platforms.
