Purpose of the Position:
The primary function of the Student Loan Counselor (SLC) is to educate delinquent borrowers with repayment options, default prevention methods and job placement assistance within the acceptable standards established by Management.
Primary Duties and Responsibilities
- Performs the daily functions of the position in compliance with school and federal policy as well as the recommended guidelines in the Fair Debt Collection Practices (FERPA).
- Accesses the NSLDS to review student default status, overpayments and total aggregate loan limits.
- Works to lower the total defaults by reducing the number of delinquent student loan borrowers and promote Student Loan Financial Literacy as well as Gainful Employment.
- Assists students in understanding and successfully managing their student loan obligations.
- Contacts borrowers at least twice during their grace period to remind borrowers of upcoming student loan payments.
- Receives inbound calls, places outbound calls, sends letters and emails to contact delinquent borrowers and advise them of their repayment responsibility and options.
- Works in conjunction with designated lenders and guarantors to resolve student loan delinquencies.
- Applies proven strategies to assist borrowers in an effort to positively impact the annual cohort default rate and minimize the number of borrowers who default on their student loans.
- Utilizes all available skip tracing techniques to locate and resolve students with delinquent loans.
- Assists students with resolving accounts through: repayment options, deferments, and forbearance and consolidations options.
- Maintains or reduces overall Cohort Default Rates.
- Educates and assists students in regards to Job Placement and Resume Writing services that are available.
- Demonstrates knowledge of, and carefully follows all applicable federal and state compliance requirements and regulations including those prescribed by the Department of Education, accrediting agencies, CIE, and internal UMA policies and procedures.
- Effectively communicates compliance requirements to students and other staff as appropriate and quickly escalates any compliance concerns to the Compliance department.
- Other duties as assigned.
Skills & Core Attributes Required:
- Able to work productively and communicate effectively with students, lenders administrators and other constituents.
- Proficiency in a variety of computer software applications.
- Superior telephone and customer service skills.
- Excellent interpersonal skills and the ability to work in team environment
- Must be goal oriented.
- Strong oral and written communication skills.
- Flexibility to work evenings and weekends as needed.
- High School Diploma or equivalent.
- Must be eligible to access the National Student Loan Data Base (NSLDS).
- Must not have a federal student loan appearing on the NSLDS database with an unresolved default status reported.
- Associate Degree and default management and/or collection experience.
- Knowledge of student finance, college retention and graduate placement procedures preferred.
- Knowledge of Federal Default Management, regulatory requirements.
- Knowledge of Fair Collection laws, both Federal and State.
- Experience with Excel is a plus.