About this role
Summary
The Financial Aid Processor position handles all financial aid processing tasks, including but not limited to: ISIR import/export, loan origination, import/export and processing, file verification, reporting, document review and tracking, awarding, crediting Title IV funds, and other non-counseling financial aid tasks.
Essential Functions
Performs all functions related to student loan origination and disbursement management:
• Identifies loans that are ready for origination, marks files, and exports loan data electronically to the Common Origination & Disbursement (COD) platform using Colleague • Imports loan responses from COD and corrects and resolves all rejected response records • Monitors the electronic import of required loan documents from COD, such as the Master Promissory Note and Loan Entrance Counseling • Processes loan cancellations and reductions, and works with CBO to ensure reversal of funds and that corrected information is exported to COD • Performs daily loan disbursement process, including creating disbursement saved list for CBO and then exporting disbursement information to COD • Works jointly with Quality Control Supervisor on resolving system issues, updating records, and creating loan reports. • Oversees process for Parent PLUS loans, including data entry and export, monitoring credit decisions, and sending communications to parents/students.
Completes ISIR file verification in accordance with federal Title IV guidelines:
•Compares parent/student federal tax data to ISIR income/asset data for accuracy, making corrections when necessary, and electronically exports information to the Department of Education • Ensures daily import/export files in Colleague and Student Financial Success Form •Generates verification status reports for review. • Maintains 100% verification file review compliance and has working knowledge of federal tax filing requirements, specifically IRS Publication 17 • Ensures compliance with laws and regulations regarding federal and state regulations and school policies and procedures.
Performs routine daily processing and office tasks:
• Requests additional information on the Student Financial Success Form to resolve conflicting information • Ensures that correct missing document requests are added to the student record • Oversees office mail collection (both internal and external), delivery to the mail room, and distribution • Maintains responsibility for student file creation and ongoing management • Oversees office supply orders and inventory.
Crediting PELL Grant and SEOG
• Credits PELL and SEOG in accordance with federal/state regulations • Ensures PELL/SEOG disbursements are reconciled with Colleague and COD • Assists with reconciliation and reporting to COD. • Adjusts PELL/SEOG amounts before crediting. • Exports corrections to COD when student changes registered credits and affects aid eligibility.
Review and resolve ISIR critical comment codes • Perform data analysis to identify discrepancies in data and determine action for resolution • Ensure to identify different federal documents (e.g., domestic/foreign passports, forms I-551, I-94, status information letters) and know which documents are appropriate for clearance • Runs secondary verification process when eligible non-citizen status is undetermined. Checks the SAVE System DHS • Ensures clearing SAR C-Flags for verification, direct loan rejects, resolution of conflicting information, certifying PLUS/GRAD Direct Loan applications, award revisions, and rejected disbursements.
Performs all functions related to reporting • Ensure reporting processes in accordance with federal regulations • Review and report results on a weekly basis to NSLDs for Transfer Monitoring • Ensure monthly reporting to FAA access to report V4/V5 results • Maintain detailed records of import/export files.
Perform awarding processes • Review and identify students that are ready to be awarded • Award new students with a valid admissions status and ISIR with no C-codes • Award returning students with valid ISIR, no C-codes • Ensure all C-flags and rejects have been resolved before awarding students • Verify completion of Master Promissory Note and Loan Entrance Counseling
Perform other miscellaneous duties as assigned • Maintain current knowledge of financial aid federal, state, and school regulations • Read, understand, and comply with federal, state, and school policies and procedures • Respond to communication (email/voicemail) daily. • Liaison to and provide support to the Financial Aid Counselors, internal departments, and external organizations; answer questions, inquiries, or requests regarding processing and disbursing loans and crediting PELL/SEOG.
Perform processing tasks on various platforms • Daily use Colleague to perform all processing duties • Daily use Student Financial Success Form to maintain and process student documents • Run daily/weekly reports using Entrinsik Informer Report • Utilize federal websites, such as COD, FPS Access, NSLDS, etc., to keep current on federal/state regulations and processing.
Qualifications/Requirements
• A high school diploma is required. An Associate's degree is preferred.
• 1-3 years of relevant experience.
• Intermediate experience with CRM is required.
• Must be able to work independently and apply financial aid concepts to a variety of situations.
• Must have strong written/oral communication skills to communicate clearly and professionally with internal and external stakeholders.
Benefits: Barry University offers a comprehensive benefits package to full-time employees that includes health, dental, vision, life insurance, retirement, tuition assistance, paid time off and work/life balance initiatives such as wellness programs, spirituality in the workplace, and training and development. Barry University is an Equal Opportunity Employer, committed to a diverse and inclusive work environment.