People Strategy, Equity, and Culture

Student Loan Specialist

  • Title: Student Loan Specialist
  • Class: Academic Professional
  • Exempt Status: Exempt
  • Grade: 3

Nature and Scope of Work

The Student Loan Specialist performs professional work in administering and servicing Perkins and Nursing student loans which have been awarded under a total financial aid package. Incumbents in this classification are responsible for interpreting and implementing policies and procedures in support of State and Federal guidelines and statutes, evaluating and determining credit eligibility for loans and entitlements, and ensuring appropriate legal and supporting documents are complete. Professional judgment is used on a case by case basis. The Student Loan Specialist will also service the loans through final payback. The Student Loan Specialist routinely interacts with the college’s loan servicing and collection agencies, and federal and state agencies in the repayment of Perkins and Nursing loan programs. Incumbents in this job classification are accountable for ensuring compliance with federal regulations and safeguarding the institution’s eligibility to participate in Title IV Programs.

Distinguishing Characteristics

The Student Loan Specialist is distinguished from the Financial Aid Coordinator in that the Coordinator is responsible for evaluating and developing a complete financial aid package for students and has lead responsibilities. The Student Loan Specialist is responsible for administering and servicing a specific element of the total award package.

Principal Accountabilities (includes some or all of the following)

  1. Develop, implement, and facilitate training related to comprehensive pre-loan debt counseling. Advise students in individual and group settings about entitlements, billing, job-placement services, state aid, and scholarships. Conduct individual and group exit reviews at all campus and service district locations.
  2. Evaluate student loan packages according to Title IV regulations. Determine appropriateness of continued borrowing. Monitor student enrollment and repayment activity. Order and evaluate credit reports. Update credit bureaus on student borrower repayment history. May deny student loans due to derogatory credit. Evaluate and decide student appeals.
  3. Evaluate and problem-solve loan application and check disbursement problems. Coordinate activities with Financial Aid Coordinators and office staff.
  4. Maintain active case files on each student from allocation through repayment or cancellation in accordance with Department of Education standards. Monitor and update documentation regularly with billing service, credit bureaus, credit agencies, and National Student Loan Data Center. Correct information as needed. Evaluate and determine requests for loan cancellations.
  5. Conduct due diligence on delinquent accounts including forwarding letters, phone calls, skip-tracing, repayment agreements, monitoring bankruptcy proceedings, filing attachments, and coordinating efforts with collection agencies. May assign defaulted loans to Department of Education after extensive collection efforts have been made. Develop and maintain a default management plan.
  6. Perform related duties as assigned.

Work Environment

Work is performed in an office environment. Extended periods of time sitting at a computer and performing keyboarding functions is required. Occasional evening hours required.

Physical Requirements

Physical exertion is not a normal requirement of this classification.

Minimum Qualifications

Bachelor’s degree in Finance, Accounting, Business Administration, or related field. Experience performing the duties of this job may substitute for the degree requirement on a year for year basis.

Demonstrated experience in providing strong customer service in loan servicing and collections. Experience in student financial aid and economic counseling. Experience maintaining complex accounting records. Experience researching and evaluating complex rules and regulations.

Knowledge, Skills, and Abilities

Knowledge of:
  • Extensive knowledge of Department of Education rules and regulations related to Perkins and Nursing loans.
  • Knowledge of current federal financial aid programs and associated rules.
  • Knowledge of effective loan collection techniques.
Skills in:
  • Skill in completing complex math computations.
  • Skill in operating a computer and various supporting software packages.
Ability to:
  • Ability to evaluate and implement Department of Education recommendations and regulations.
  • Ability to coordinate multiple tasks and resolve complex problems.
  • Ability to work independently.
  • Ability to interpret and effectively communicate rules and regulations to a diverse audience, both in one-on-one sessions and in group presentations.
  • Ability to defuse difficult, angry, and emotional situations with students and/or parents.
  • Ability to work with a culturally and ethnically diverse population.
  • Ability to operate a variety of office equipment.
  • Ability to effectively communicate in oral and written form.

Reviewed: 12/2018

  • Revised: 2/2002
  • Established: 9/1997