This position will be the lead role in the life-cycle of Federal Direct loans in adherence to federal, state and university policies. Expert understanding of Federal Direct Loans, and other Loan Unit processes, award packaging, cost of attendance budgets and general financial aid knowledge is also required. Provide one-on-one support and follow-up to students and parents who have loans, including contact with students who are delinquent on their payments. Work in conjunction with other Unit staff. Serve as the main contact for trouble-shooting Federal Direct Subsidized, Unsubsidized, Graduate PLUS, Parent PLUS and University Trust Fund Loan issues from students, parents, and One Stop. Provide back-up support to other functions within the Unit. Perform review of packaging simulations. This position is one of the first for identifying potential systematic problems related to Direct loans.
Exercise professional judgment as authorized by the U.S. Department of Education. A significant amount of packaging and aid adjustments are required of this position, which involves professional judgment as records are evaluated and eligibility is determined. This position will provide substantial support and counseling via email and telephone to the general population of students, parents, and the University community on various financial aid issues.
Loan Analysis (40%):
Primary contact for inquiries from students, parents, and One Stop related to requests for Federal Direct Subsidized, Unsubsidized, Graduate PLUS, Parent PLUS, and University Trust Fund Loans.
Perform expert use of PeopleSoft process for awarding loans, making corrections, and managing return of funds.
Assist in the Reconciliation of Direct Loans on a monthly basis.
Maintain a comprehensive knowledge of Federal, State, and University loan information and specific eligibility as related to various loan programs.
Manage a large volume of records quickly and accurately.
Proactively analyze data and troubleshoot to identify potential loan problems and suggest solutions.
Packaging and Award Adjustments (35%):
Award and adjust financial aid packages.
Provide assistance to Units to meet priority processes and projects.
Understand and apply University and Federal packaging policies when awarding.
Understand and apply PeopleSoft process for awarding and adjusting awards.
Apply financial aid funds and related regulations.
Employ budget adjustment policies and procedures as they apply to aid revisions and Study Abroad costs.
Analyze and manage a large volume of records quickly and accurately.
Loan Reports/Special Projects (20%):
Provide back-up support to other Loan Unit Staff.
Analyze Loan Reports and make loan adjustments as needed.
Address loan default prevention for delinquent borrowers.
Participate in system testing for aid year processing to ensure program plans are free from errors.
Utilize expertise in regulations that govern Federal, State, University, and Private loans while performing special projects such as loan clean-up, Sequestration adjustments, problem loan resolution, SULA adjustments, and summer special processing.
Remain current on regulations that govern Federal, State, University and private loans.
Meet timeline requirements.
Attend and participate in meetings and OSF committee work as assigned (5%):
Regularly attend scheduled meetings.
Participate in unit and OSF committee activities.
Update unit colleagues with regard to new knowledge; initiate and distribute information to colleagues that may affect and enhance their work.
Implement new information into job functions where appropriate.
Identify and attend training sessions needed to ensure knowledgeable and accurate job performance.
Provide input in a positive manner.
Actively listen to others.
Be prompt and attentive.
Work effectively as a team member.
Bachelor’s degree in a related field and at least two years of related professional experience in counseling, financial aid, or student services.. An equivalent combination of relevant education and experience totaling six years may be substituted.
Orientation to detail, and the ability to handle high volume processing and adapt to changing priorities.
Must have effective communication, customer service, and time management skills.
Working knowledge of spreadsheets (MS Excel), word processing (MS Word), and Web (Internet Explorer, Firefox, Google, etc.).
Knowledge of University, state, and federal financial aid regulations and familiarity with University of Minnesota policies and procedures.
Understanding and experience with Direct Loans and Private Student Loan processing.
Understanding and experience with PeopleSoft Student Financial processing and the Federal Needs Analysis formula.
Working experience in a higher education setting; bachelor’s degree and additional experience preferred.
Internal Number: 330578
About University of Minnesota, Twin Cities
The University of Minnesota, founded in the belief that all people are enriched by understanding, is dedicated to the advancement of learning and the search for truth; to the sharing of this knowledge through education for a diverse community; and to the application of this knowledge to benefit the people of the state, the nation, and the world.