This position will be the lead role in the administration of private loan programs by certifying private alternative loans in adherence to federal, state and university policies. Expert understanding of 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 private loans. Work in conjunction with other Unit staff. Serve as the main contact for private loan inquiries from students, parents, and One Stop. Provide back-up support to other functions within the Unit.
Exercise professional judgment when analyzing appeal petition documents as a member of the Satisfactory Academic Appeal (SAP) Committee. 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.
ASR supports the University’s Work. With Flexibility. principles with a hybrid model of remote and in person work.
Loan Application Analysis: (55%)
Primary contact for inquiries from students, parents, and One Stop related to requests for private lender loans.
Liaison to students applying for private loans. Provide personal support and follow-up with this population to ensure the correct documents are submitted and accurate.
Proactively correspond with students/parents regarding missing documents or additional information as needed.
Maintain expert understanding of current Satisfactory Academic Progress policies and processes.
Provide expert use of PeopleSoft process for awarding loans, making corrections, and managing return of funds.
Use and manipulate queries and spreadsheets to gather data and evaluate eligibility.
Comprehensive knowledge private loan information and specific eligibility as related to the various private loan lendersManage a large volume of records quickly and accurately.
Communicate with lenders and Great Lakes to resolve issues with applications, loan eligibility, and disbursements.
Oversee disbursement, reconciliation, and return of private loan funds with the Fiscal Unit.
Meets with private loan lenders to keep up to date on their programs and processes.
Packaging and Award Adjustments: (25%)
Award and adjust financial aid packages.
Provide assistance to Units to meet priority processes and projects.
Use, understand, and apply University and Federal packaging policies when awarding.
Use, understand, and apply the PeopleSoft and ScholarNet processes for awarding and adjusting awards.
Use, understand, and apply financial aid funds and related regulations.
Employ budget adjustment policies and procedures as it applies to aid revisions.
Analyze and manage a large volume of records quickly and accurately.
Satisfactory Academic Progress Appeals (10%)
Evaluate appeals and invoke professional judgment to determine if an institutional exception can be made for students who have failed to maintain the required academic standards for State and Federal aid.
Accurately counsel students regarding the impact on their record based on the appeal submitted.
Thoroughly investigate appeals and supporting documentation to make decisions.
Contact appropriate parties for further information when needed.
Exercise financial aid professional judgment to recalculate student eligibility for financial aid based on current enrollment.
Award aid according to all state, federal, and University regulations.
Make recommendations for policies related to professional judgment.
Communicate results of appeal to students in a professional manner.
Loan Reports/Special Projects: (5%)
Provide back-up support to other Loan Unit Staff.
Analyze Loan Reports and make loan adjustments as needed;
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, 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.
Identifiy and attend training sessions needed to ensure knowledgeable and accurate job performance.
Provide input in a positive manner.
Listen actively to others.
Be prompt and attentive.
Work effectively as a team member.
BA/BS degree in a related field and at least two years of related professional experience in counseling, financial aid, or student services work experience, or a combination of education and relevant work experience to total at least 6 years.
Orientation to detail with 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).
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 of ScholarNet and/or ELM systems.
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.
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.