What are the responsibilities and job description for the Financial Aid Loan Specialist position at Lake Land College?
JOB
Provide professional assistance in the operation of the Financial Aid & Veteran Services Office including advising and counseling students and families processing and awarding financial aid and management of the Federal Direct Loan Programs.
EXAMPLE OF DUTIES
Essential Job Functions: 1.Develop a comprehensive understanding of Federal and State student aid programs, including eligibility requirements, processes, rules, and regulations.2.Provide guidance and support to students, parents, and staff on all aspects of student financial aid, including application procedures, special circumstances, alternative funding options, eligibility requirements, financial literacy, and budgeting.3.Gather and analyze complex data while handling highly confidential records and sensitive situations. Apply detailed regulatory guidance when determining financial aid awards and processes, summarize findings in relevant reports, and provide precise and accurate responses in communications.4.Contribute to the development, implementation, and ongoing maintenance of financial aid policies and procedures.5.Oversee and manage the Federal Student and Parent Direct Loan (DL) Programs, including application processing, eligibility verification, student budgeting, loan amount determination and certification, entrance counseling, Master Promissory Note management, and exit counseling.6.Manage electronic communication and file transfers with the Department of Education and the National Student Loan Data System (NSLDS). Address NSLDS database match issues and review loan-related Institutional Student Information Record (ISIR) comment codes.7.Certify private loan funds and maintain electronic funds transfer with private loan lenders8. Collaborate with the Accounting Office to manage the disbursement and refund of Direct Loan funds to students, ensuring all transactions are verified and audited.9.Perform monthly reconciliations of loan funds with the Department of Education in collaboration with the Accounting Office.10.Monitor and track DL recipient’s enrollment status and eligibility, including Satisfactory Progress, loan limits and potential over-awards.11.Manage default prevention efforts by identifying at-risk borrowers and sending delinquency letters to students before they are in default. Provide guidance and resources to help borrowers avoid default and maintain loan repayment compliance. Assist with student loan fraud investigations as needed.12.Monitor the enrollment of financial aid recipients ensuring compliance with eligibility requirements and adjusting financial aid awards and Cost of Attendance budgets as necessary. Collaborate with faculty to verify student attendance and address inquiries from students, staff, and faculty regarding student participation13.Conduct financial aid outreach to high schools and the community, presenting information and providing counsel to students and parents at local Financial Aid events.14.Engage in training and professional development to stay up-to-date with federal, state, and institutional regulations and processes.15.Perform other duties as assigned by the Director of Financial Aid & Veteran Services.
Provide professional assistance in the operation of the Financial Aid & Veteran Services Office including advising and counseling students and families processing and awarding financial aid and management of the Federal Direct Loan Programs.
EXAMPLE OF DUTIES
Essential Job Functions: 1.Develop a comprehensive understanding of Federal and State student aid programs, including eligibility requirements, processes, rules, and regulations.2.Provide guidance and support to students, parents, and staff on all aspects of student financial aid, including application procedures, special circumstances, alternative funding options, eligibility requirements, financial literacy, and budgeting.3.Gather and analyze complex data while handling highly confidential records and sensitive situations. Apply detailed regulatory guidance when determining financial aid awards and processes, summarize findings in relevant reports, and provide precise and accurate responses in communications.4.Contribute to the development, implementation, and ongoing maintenance of financial aid policies and procedures.5.Oversee and manage the Federal Student and Parent Direct Loan (DL) Programs, including application processing, eligibility verification, student budgeting, loan amount determination and certification, entrance counseling, Master Promissory Note management, and exit counseling.6.Manage electronic communication and file transfers with the Department of Education and the National Student Loan Data System (NSLDS). Address NSLDS database match issues and review loan-related Institutional Student Information Record (ISIR) comment codes.7.Certify private loan funds and maintain electronic funds transfer with private loan lenders8. Collaborate with the Accounting Office to manage the disbursement and refund of Direct Loan funds to students, ensuring all transactions are verified and audited.9.Perform monthly reconciliations of loan funds with the Department of Education in collaboration with the Accounting Office.10.Monitor and track DL recipient’s enrollment status and eligibility, including Satisfactory Progress, loan limits and potential over-awards.11.Manage default prevention efforts by identifying at-risk borrowers and sending delinquency letters to students before they are in default. Provide guidance and resources to help borrowers avoid default and maintain loan repayment compliance. Assist with student loan fraud investigations as needed.12.Monitor the enrollment of financial aid recipients ensuring compliance with eligibility requirements and adjusting financial aid awards and Cost of Attendance budgets as necessary. Collaborate with faculty to verify student attendance and address inquiries from students, staff, and faculty regarding student participation13.Conduct financial aid outreach to high schools and the community, presenting information and providing counsel to students and parents at local Financial Aid events.14.Engage in training and professional development to stay up-to-date with federal, state, and institutional regulations and processes.15.Perform other duties as assigned by the Director of Financial Aid & Veteran Services.
