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Loan Coordinator (5001)

Employer
American University
Location
District of Columbia, United States
Salary
Salary Not Specified
Closing date
Aug 31, 2021

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Position Type
Administrative, Business & Administrative Affairs, Business & Administrative Support, Financial Affairs, Grants & Contracts, Student Affairs, Financial Aid, Other Student Affairs
Employment Type
Full Time
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Job Details



Summary/Objective

The Loan Coordinator is responsible for processing Federal and private loans for the graduate, professional, and undergraduate populations at American University according to Federal regulations and Financial Aid Office procedures. The Loan Coordinator is responsible for the day to day production of a high volume of student and parent loan. This position coordinates with Financial Aid staff to determine loan eligibility and communicates with other campus departments; lenders; guarantee agencies and loan servicers.The Loan Coordinator works as a member of the loan team.

Essential Functions

1. Perform automatic and manual loan processing functions for Federal and private educational loan programs accurately and in a timely manner according to Federal Regulations and University policy and procedure. This includes but is not limited to: reviewing loan documents for accuracy; verifying student and/or borrower eligibility; manual and/or automatic loan certification, manual and/or automatic loan origination; printing reports for review; coordination of paper and electronic data transmissions to and from American University, to the Federal g overnment, and to other student loan related agencies; processing data and/or reviewing data for corrections; performing manual and/or automated loan adjustments; coordinating loan disbursements with the Office of Student Accounts, lenders, servicers, or disbursing agents; performing automated disbursements to the student account; organizing and processing paper check disbursements, troubleshooting disbursement or processing issues with lenders, servicers, University staff, disbursing agents or other relevant parties; and accurate record keeping.

2. Perform weekly, monthly, and annual reconciliation of loan awards and disbursements according to Federal Regulations and University policy and procedure. This includes but is not limited to: reviewing and correcting lists of rejected loans, loans pending certification, credit denial reports, disbursement discrepancies between Datatel and COD, award discrepancies between Datatel and COD, students missing necessary loan paperwork, and loans pending disbursements; reviewing and completing reports generated by the Department of Education, American University, the Financial Aid office, lenders, servicers, or disbursing agents.

3. Communicate efficiently, accurately, and expeditiously with all necessary parties regarding loan processing according to Federal Regulations and University policy and procedure. This includes but is not limited to: responding to Financial Aid staff requests or inquiries as well as requests or inquiries from outside parties such as other University offices, lenders, servicers, or disbursing agents; Providing accurate status reports to relevant parties regarding loan statuses; Informing relevant and appropriate parties of loan procedure, policy and current events; Initiate communication and coordinate with staff, University offices, lenders, servicers, and disbursing agents to ensure that all relevant parties have the information required to fully process loans and provide quality customer service; and providing accurate electronic notes in various databases to indicate any actions taken on a loan.

4. Perform other duties as assigned or as needed based on regulatory or procedural changes. This includes but is not limited to: training new staff members; assisting with loan presentations; and working with the Office of Enrollments office of Administration and Fiscal Affairs to get loan documents mailed to students.

Work Environment
  • The Financial Aid Office is one of five departments within the Office of Enrollment
  • The Loan Coordinator reports directly to the Assistant Director of Financial Aid
  • This position coordinates with Financial Aid staff, communicates with other on campus departments, as well as off campus organizations to ensure the efficient, accurate, and effective processing of loans


Position Type/Expected Hours of Work
  • 35 hours/week
  • Non-exempt
  • Coordinator/Analyst B
  • This position may allow for a combination of remote work-from-home and on-campus presence.
  • This is a Union-Eligible position


Required Education and Experience
  • Bachelor's degree or the equivalent in education, training and/or experience
  • Two years of work experience in Financial Aid, loan evaluation and management or a related field required.
  • Understanding of how to use a wide variety of computer systems and databases
  • Detail oriented, be able to work quickly and accurately, have effective communication skills and be able to handle a high volume work environment


Preferred Education and Experience
  • Bachelor's degree
  • Knowledge of Federal regulations, ELM, and COD


Additional Eligibility Qualifications
  • Hiring offers for this position are contingent on successful completion of a background check.
  • To ensure the health and safety of our community AU requires COVID-19 vaccinations for faculty and staff. Click here to learn more about our health and safety directive.


Benefits
  • Click here to learn about American University's unique benefit options


Current American University Employees:

If you are a current full-time or part-time staff member at American University, please log intoAsuccessfulU through themyAU portal . Once in AsuccessfulU, please select the Careers tile which will take you to our internal career page.

Contact Us:

For more information or assistance with the American University careers site, emailtheworkline@american.edu .

American University is an equal opportunity, affirmative action institution that operates in compliance with applicable laws and regulations. The university does not discriminate on the basis of race, color, national origin, religion, sex (including pregnancy), age, sexual orientation, disability, marital status, personal appearance, gender identity and expression, family responsibilities, political affiliation, source of income, veteran status, an individual’s genetic information or any other bases under federal or local laws (collectively "Protected Bases") in its programs and activities.

Nearest Major Market: Washington DC

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