Financial Aid Loan Specialist

How to Apply

A cover letter is required for consideration for this position and should be attached as the first page of your resume. The cover letter should address your specific interest in the position and outline skills and experience that directly relate to this position.

Summary

Reporting to the Assistant Director of Support Services, you will manage higher education loan programs on behalf of the Office of Financial Aid (OFA) including the William D. Ford Federal Direct Loan and a variety of private/commercial loan programs. The financial aid loan specialist will be a subject matter expert, with independent authority, to determine student loan program eligibility, ensure client service expectations are met, and protect the University from audit findings and associated liabilities. You will calculate student loan eligibility in compliance with standard financial aid practices, and use discretion to exchange sensitive student record level data with governmental and private financial institutions on a daily basis. 

You will communicate complex financial aid issues in-person and in writing with OFA staff members, student financial services representatives and directly with borrowers.

The University of Michigan is a premier public research university enrolling 51,000 students including 32,000 undergraduates, with a commitment to diversity, equity, inclusion and affordability. U-M is in demand and for fall 2022 received nearly 90,000 applications from first-year and transfer students from Michigan, the nation, and the world.

The Office of Enrollment Management division provides campus-wide leadership in executing the strategic recruitment, admission, enrollment, records management and student financial support functions for the university. Our reporting units work strategically with the schools and colleges, leveraging expertise and best practices.

Responsibilities

• Manage higher education loan areas including calculating eligibility, exchanging protected data with outside entities, ensuring loan awards are ready for delivery to the student account, and investigates and reconciles reporting errors promptly.
• Consult with parents, students, and OFA team members to resolve loan issues. Work with the Direct Loan Servicing Center and private lenders to resolve any loan processing issues.
• Investigate and recommend system improvements for student loan processing. Document and update detailed written procedures. 
• Provide general advice and counsel to leadership on issues related to loan processing and records management.
• Participate in office-wide meetings and special projects; support university and OEM divisional programs.
• Assist and inform other areas within OFA as requested.

Required Qualifications

• Bachelor's Degree required.
• Two years of financial aid experience.
• Outstanding verbal and written communication skills, and strong interpersonal skills.
• Ability to make independent decisions, use professional judgment and to interpret federal/state/institutional regulations/procedures.
• Demonstrated commitment to diversity and equal opportunity. Experience with students and work environments of a diverse background.

Desired Qualifications

• Additional years of financial aid experience, specifically as a loan coordinator or specialist.
• Experience using the following information systems: ELMone, Federal Student Aid Systems (COD, NSLDS), and Oracle's Student Administration.
• Experience or familiarity with related student service business processes such as student records, registration and student accounts.

Underfill Statement

This position may be under-filled at a lower classification depending on the qualifications of the selected candidate. Applicants with less experience are encouraged to apply, however one year of experience in financial aid is required.

Additional Information

Benefits at the University of Michigan

In addition to a career filled with purpose and opportunity, The University of Michigan offers a comprehensive benefits package to help you stay well, protect yourself and your family and plan for a secure future. Benefits include:

• Generous time off
• A retirement plan that provides two-for-one matching contributions with immediate vesting
• Many choices for comprehensive health insurance
• Life insurance
• Long-term disability coverage
• Flexible spending accounts for healthcare and dependent care expenses

This position may be eligible for flexible work opportunities at the discretion of the hiring department. Flexible work agreements are reviewed each term and subject to change dependent on the business needs throughout the course of employment.

Application Deadline

Job openings are posted for a minimum of seven calendar days.  The review and selection process may begin as early as the eighth day after posting. This opening may be removed from posting boards and filled anytime after the minimum posting period has ended.

U-M EEO/AA Statement

The University of Michigan is an equal opportunity/affirmative action employer.

U-M COVID-19 Vaccination Policy

COVID-19 vaccinations, including one booster when eligible, are required for all University of Michigan students, faculty and staff across all campuses, including Michigan Medicine.  This includes those working remotely and temporary workers.   More information on this new policy is available on the U-M Health Response website or the UM-Dearborn and UM-Flint websites.