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…