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Business Officer (Hybrid)

Employer
American Public University System
Location
West Virginia, United States
Salary
Salary Not specified
Date posted
Apr 6, 2023

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Business Officer (Hybrid)

Requisition Number: BUSIN004442
Location: West Virginia, USA

Business Officer
American Public Education, Inc.

The Business Officer role is responsible for increasing the number of students repaying their Federal Student Loans; thereby lowering the total student loan defaults This role ensures accurate student account records by billing tuition and fees timely, and by posting and transferring Title IV aid in compliance with the Department of Education regulations. In addition, the Business Officer is responsible for the processing of Federal Return of Title IV calculations, state refund calculations and institutional tuition calculations while ensuring adherence of federal, state and institutional guidelines for withdrawn students, students that have ceased attendance and students that are no longer active. The Business Officer is responsible for interpreting and implementing regulations set forth by the U.S. Department of Education and Servicers. The Business Officer reports to the Manager, Business Office or the Supervisor, Business Office. This role has no direct reports.

Responsibilities:

Federal Student Loans - 40%
  • Contact borrowers by telephone, email and mail to discuss the status of their accounts and to advise them of their responsibilities and loan repayment options.
  • Counsel borrowers to make a telephone payment directly to the loan servicer.
  • Encourage students to make monthly payments on their Federal student loans by providing the borrower accurate Federal Student Loan account information including payment amount and Loan Servicer contact information.
  • Discuss repayment arrangements with borrowers.
  • Advise delinquent borrowers about deferment and forbearance eligibility.
  • Follow up via email and telephone with students who are or become delinquent on their Federal Student Loans.
  • Contact students who have graduated or withdrawn from school to ensure they understand their upcoming loan payments and repayment responsibility.
  • Provide adequate telephone coverage for incoming and outgoing calls. This includes answering questions about student loans, including repayment options, delinquencies and default.
  • Review accounts to ensure the accuracy of information, act as a liaison between the borrower and the service provider and ensure that all applicable requirements have been met.
  • Check accuracy of draft cohort rates, identify challenges and submit cohort default challenges as appropriate.
  • Meet annual Gainful Employment reporting and challenge requirements by submitting information for each award year and submitting data challenges for incorrect information.

Administrative Capability and Cash Management - 20%
  • Post Title IV cash within 3 business days to meet Department of Education regulations.
  • Transfer funds between bank accounts to meet Department of Education regulations.
  • Batch and post Non-Title IV aid daily.
  • Schedule stipends for students weekly to meet Department of Education regulations of 14 days.
  • Meet all reporting requirements established by Department of Education.
  • Administer disbursements and ensure COD disbursement dates match Student Information System.
  • Post and deposit all payments to the student's ledger card timely and review for accuracy.

Billing / Adjustment - 20%
  • Bill tuition, fees, and books on scheduled billing dates established by the University and review for accuracy.
  • Post and reconcile all discounts, scholarships, and other fund sources.
  • Identify and resolve student billing discrepancies.
  • Process tuition adjustments based on course changes.
  • Bill all third party agencies at the beginning of each month/quarter and maintain customer service focused relationship with agencies and vendors.
  • Process student statement requests.
  • Post monthly write-offs on delinquent accounts.
  • Assist with 1098-T preparation and manage 1098-T inbox.

Refund Processing - 20%
  • Accurate and timely completion of refunds within 45 days to meet all U.S. Department of Education regulations including tracking and processing all information, paperwork, determining eligibility and preparing financial aid refund documentation.
  • Implements financial aid policies as directed, ensuring compliance to state and federal regulations, audit requirements and University policies.
  • Prepares federal R2T4 (Return to Title IV) and institutional tuition adjustments based on the information provided from the Student Records department.
  • Prepares state program refunds based on each state's regulations.
  • Follows processes and procedures that streamline the student withdrawal process.
  • Tracks post-withdrawal disbursements to ensure they pay accurately and timely.
  • Maintains minimum weekly refund processing goals.
  • Maintains knowledge of Federal Title IV awarding and disbursing regulations.
  • Transfers refund monies to appropriate bank accounts for refund auto-debit of non-federal funds.

Requirements:
  • Minimum of two to four years of Business/Accounting/Financial Aid experience in a post-secondary education environment is preferred.
  • This role requires strong written and verbal communication skills with the ability to work independently and as a team.
  • Excellent organization and time management skills are necessary. This role requires continual attention to detail, the ability to handle multiple priorities, meet deadlines and maintain flexibility in a fast-paced work environment.
  • Requires strong analytical and problem-solving capabilities.
  • Ability to work independently and as a part of a team.
  • Must be proficient in Microsoft Office Suite, with an emphasis on Outlook, Word, Excel, and Power Point.
  • Excellent oral and written communication skills.
  • Ability to work a flexible schedule including evening and weekend hours.
  • Experience with financial aid, collections, or accounting is preferred.
  • Maintains strictest confidentiality

Education:

Bachelor's degree in Business, Accounting, or Finance.

About Us:

Online, on campus and in the workplace, we provide higher education and training to our country's heroes - military service members, veterans, nurses, government employees, and motivated professionals that want to make a difference. American Public Education, Inc. educates service-minded students, ranging from the military, public service, federal agencies, and nursing communities, through American Public University System (APUS), Hondros College of Nursing (HCON), Rasmussen University and Graduate School USA (GSUSA).

It is the policy of American Public Education, Inc. (APEI) to afford equal opportunity to all qualified persons. We treat all qualified individuals equally as to their recruitment, hiring, assignments, advancements, compensation, and all other terms and conditions of employment. American Public Education, Inc. does not discriminate on the basis of race, color, religion, creed, sex, age, national origin, sexual orientation, or physical, mental, or sensory disability, or any other characteristic protected by law.

Colorado, California, Washington and NYC Pay Transparency Statement

If you are a resident of Colorado, California, Washington or New York City and this role is available remotely, you may be eligible to receive additional information about the compensation and benefits for this role, which we will provide upon request. Please send an email to recruiting@apei.com


To apply, visit https://recruiting.ultipro.com/AME1070/JobBoard/b66d4325-6be5-4691-ab44-c96532dee1ff/OpportunityDetail?opportunityId=f6f0d7ab-7c46-4604-b7e1-ce46fa56adae jeid-e7b3253dd8ad29459d59fd1a6ac4b52f

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