Associate Director Financial Aid​/Loan Coordin

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Full Time Administrative Wilmington, OH, US

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 process for Graduate Program students.

• Counsel students and parents about the various federal, private, and institutional loan programs, including eligibility, application process, and loan repayment.
• Certify and test the accuracy of the annual program setup of the Jenzabar JFA loan module and related tables needed for loan processing.
• Determine loan period dates and disbursement dates (EFT Schedule) in consultation with Bursar for loan programs.
• Validate borrower eligibility, verify borrower has submitted a master promissory note and completed entrance/exit counseling, and originate student loan applications using federally mandated calculations and procedures to ensure accurate disbursement of loan funds.
• Create and maintain loan certification record of COA, SAI, EFA used to calculate loan amount in accordance with federal regulations.
• Maintain all aspects of the college’s electronic processes for participating in the Federal Direct Loan (COD) and Private Education Loan Programs (Scholar Net).
• 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 funds to the lender, and notify borrowers of Direct Loan Exit Counseling requirements.
• Perform daily internal reconciliation on each loan disbursement batch as received and monthly internal reconciliation with the Business Office to ensure institutional compliance and to demonstrate administrative capability as required by regulations.
• Performs monthly external reconciliation by ensuring WC’s internal reconciliation records match the School Account Statements (SAS) Reports received via the U.S. Department of Education’s COD system.
• Resolve any discrepancies in various loan programs/records. Often requires phone calls with the U.S. Department of Education’s NSLDS or COD offices, Business Office, IT Department, or borrower or generating reports to resolve issue.
• Perform Direct Loan closeout procedures, which require year-end reconciliation with Business Office.
• Implement and manage an effective default management program including Financial Literacy and Cohort Default Rate Reduction initiatives to maintain acceptable Cohort Default Rate.
• Evaluate, establish, implement, and document policies and procedures that reflect institutional or regulatory changes related to the loan programs.
• Award Degree Completion Funds and Institutional Loan Funds, oversees the collection of Promissory Notes, and assists the Office of Advancement with reporting requirements.
• Responsible for the timely completion of all Return to Title IV (R2T4) calculations, ensuring the timely return of unearned funding, and sending required communication to students and Student Accounts staff.
• Manage the transfer monitoring process within the National Student Loan Database System (NSLDS).
• Provide financial aid counseling and determine financial aid eligibility, reviews supporting documentation, and awards aid funds to Graduate Program students in accordance with federal, state, and institutional policies.
• Perform federal verification of student aid application data and resolves C-code flags and conflicting information discrepancies in accordance with federal, state, and institutional policies on graduate files.
• Monitor financial aid awards for compliance and adjust awards as necessary to prevent over awards on graduate files.
• Generate financial aid award notifications, College Financing Plans, information request notifications, and FAFSA application reminders to Graduate Program students.
• Serves as the Primary…