Job Details



Position Details
Req ID: req11755
Position Title: LOAN COORDINATOR
Position Type: Staff Full-Time
OSU Campus: 634327
Department: OSU INSTITUTE OF TECHNOLOGY
Location Address: Financial Aid & Scholarships
Hiring Supervisor and Contact Info:  
Okmulgee, Oklahoma
United States
Hiring Range:
(Contingent upon available funding):
12.58 - 14.18, Hourly
Work Schedule: M-F 7:30a to 4:30p (may vary)
Faculty Appt Period:
Job Summary:

GENERAL SUMMARY:  Coordinates the processing and disbursing of Federal Direct Student Loans, Federal Parent PLUS Loans and Private Alternative Loans ensuring that specific eligibility criteria are met and loans are disbursed within applicable federal guidelines. The Loan Coordinator also is responsible for assisting students and parents with the loan application, entrance counseling, exit counseling and Master Promissory Note process, as well as acts as the university liaison with private lenders for students with alternative funding needs. The Loan Coordinator monitors over need and over award reports, and makes loan adjustments each day to ensure that students are not over awarded and that loan funds are returned within guidelines mandated by the Department of Education. The Loan Coordinator must reconcile with the Department of Education, the Bursar's Office and the Accounting Office on a monthly and annual basis.

PRINCIPAL DUTIES AND RESPONSIBILITIES:

  • Processes student loan applications and disbursements verifying that students and parents complete the loan application, entrance counseling, exit counseling, and master promissory notes where applicable.
  • Assists students and parents with the loan application process, entrance counseling, exit counseling, and master promissory note forms.
  • Ensures the system sends each borrower disbursement notifications each day which includes the loan type, date of disbursement, when the disbursement will be delivered and by what method, and the method and date by which the student or parent must notify the school that he or she wishes to cancel all or a portion of the loan.
  • Each semester, notifies graduating students and students that have stopped attending of their exit loan counseling requirements.
  • Acts as the university liaison with private lenders for students with alternative funding needs to ensure eligibility, certify, and disburse funds in a timely, accurate and efficient manner.
  • Coordinates the disbursing and repayment of student loans with the Bursar's Office, Accounting Office, and the Department of Education, and verifies that loans are disbursed or returned within the timelines mandated by the Department of Education.
  • Monitors over need reports daily, and takes necessary action to correct. Examples of actions can include: reallocating from subsidized to unsubsidized, cancelling all or a portion of a loan, and/or reducing other unaccepted aid.
  • Monitors over award reports daily and takes necessary action to correct. Examples of actions can include cancelling all or a portion of a loan and or reducing or cancelling unaccepted aid.
  • Processes Return of Title IV funds calculations and returns loans funds according to mandates of Federal Guidelines.
  • Reconciles loan funds with the Accounting Office and the Department of Education on a monthly and annual basis.
  • Assists with monitoring the Student Queue; an internal system for tracking and serving students.
  • Pro-rates Direct Subsidized Loans for students whose remaining period of study is shorter than an academic year.
  • Updates policies & procedures of Direct Loans according to guidelines mandated by the Department of Education and the university.
  • Advises students of smart borrowing to minimize student loan debt by providing financial literacy knowledge and counseling.
  • Performs other duties assigned by the Director of Financial Aid & Scholarships.  

 

 

 

Special Instructions to Applicants Please upload cover letter, resume, and list of references for full consideration.
Education & Experience
Position Qualifications:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Minimum Qualifications:

  • Associate Degree from an accredited college or university required. Other combinations of education and experience may be considered in lieu of degree.
  • Evidences a history of demonstrating ethical and professional behavior.
  • Background working with Department of Education and State of Oklahoma financial aid programs.
  • Experience utilizing student loans delivery systems including ElmNET, National Student Loan Data System (NSLDS),  and Banner. 
  • Knowledge of Department of Education Federal financial aid regulations and loan policies and procedures.
  • Must be able to interact comfortably and effectively with a diverse client population.
  • Must be able to relate effectively with members of student support units and contribute in a dynamic team environment that adheres to process-oriented, results driven strategies.
  • A positive "can-do" attitude along with a professional appearance and demeanor should be modeled at all times.
  • Must have a willingness to continually self-initiate learning to remain proficient.
  • Should be able to quickly grasp and apply new skills and methods.
  • Must be customer service motivated with ability to work and respond effectively to varied audiences of internal and external clients.
  • Must possess strong organizational skills as well as a demonstrated ability to multi-task and work in a deadline-driven environment.
  • Proficiency in operating computer applications including Microsoft Office, Excel & Word, and Banner.
  • Strong interpersonal and customer service skills.
  • Strong analytical skills.
  • Ability to organize, prioritize and coordinate workload and work within deadlines.
  • Excellent written communication and listening skills and customer responsiveness are essential.
  • Ability to work some evenings and weekends. 
  • Normal office physical environment; ability to lift up to 25 pounds.

Oklahoma State University (OSU) strives to provide a safe study, work, and living environment for its faculty, staff, volunteers and students. To support this environment and comply with applicable laws and regulations, OSU conducts pre-employment background checks on final candidates.  Offers of employment are contingent upon the successful completion of a background check. The type of background check conducted varies by position and can include, but is not limited to, criminal (felony and misdemeanor) history, sex offender registry, motor vehicle history, financial history, and/or education verification. Background checks will be conducted when required by law or contract and when, in the discretion of the university, it is reasonable and prudent to do so.