Financial Aid Advisor

  • Full Time
  • Columbus, OH

Financial Aid Advisor – Columbus, OH

General Description
Our client is an organization that instructs students in all areas of the broadcast industry to become the next generation of media professionals. Like all members of the school, the Financial Aid Advisor is expected to project the organization’s core values and core purpose. This position supports a college and creative culture and ensures graduates are fully ready for entry-level employment opportunities.

A key role of the Financial Aid Advisor is assessing students’ financial aid eligibility. This individual is accountable for the one-on-one advising involved in ensuring students are compliant with their federal financial aid. The Financial Aid Advisor will work closely and in conjunction with the Admissions Departments to provide financial aid options for potential new students.

The Financial Aid Advisor is responsible for meeting a monthly cash collection goal. Additional responsibilities may include participation in orientation, graduation, campus events, and a variety of tasks.

The Financial Aid Advisor will be expected to have extensive experience and judgment to plan and accomplish campus and/or department goals.

Scorecard accountabilities: Financial Aid first-time appointments, applicants that enroll within 5 days, same-day financial aid estimate, students enrolled in auto debit/payer express, cash collected vs. cash due, title 4 drawdowns on time.

Essential Job Functions

  • Meet prospective students and determine their eligibility for financial aid and/or other most appropriate tuition options including payment plans or other financing options.
  • At a student’s first meeting with the Financial Aid advisor the goal of the visit is to be able to achieve an Estimate of Financial Aid as a result of the student completing the FAFSA and receiving the EFC in the email confirmation. If the student has already completed the FAFSA during this session the student should assign the school OPEID code to their FAFSA so the school can process with packaging. A follow-up appointment is to be scheduled within 48 hours so the student can return to complete the FA process.
  • After a student is packaged, enroll the student in payer express to meet weekly campus goal.
  • If student is not able to enroll in payer express complete a payment plan form to ensure auto-payment authorization and specific payment dates.
  • Term tuition and/ or approved packing is due for all students by the end of add/drop.
  • Assist students who are flagged for verification to complete the verification process by week 4 of the term.
  • If any packaging for a student results in more than a $5000 balance as of the last day of the last term, then approval must be requested from the CEO prior to the student sitting in class or being counted as an enrolled student.
  • Ensure packaging does not exceed 30 months. If any additional time, seek approval from the National Director of Financial Assistance and Planning (NDFAP).
  • Adhere to a non-interest payment plan: only available to students who after borrowing from Direct and Plus loans still have a balance left on their account.
  • FA Advisor is to send via email on the last day of add/drop certified rosters, QuickBooks printouts, and signed awards to CEO, Staff Accountant, NDFAP, National Compliance Manager, Campus Education Director, and other staff if requested.
  • Complete FA drawdowns for all closed files on the roster same day for Pell and Students with prior loans.
  • Pull funds for all first-time borrowers by the end of day 30 of the first term loan. – Print and file student ledgers to confirm all pulls were received.
  • Maintain compliant FA files to include all documents on the checklist that relate to the first term. (This includes: Enrollment Agreement, ISIR, NSEstimate of FA, Signed Award, Entrance Counseling, MPN, Payment Plan, and any items flagged for verification and ledger card. For the second term proof of SAP assessment, revised ledger card, and before graduation Exit counseling.)
  • Responsible for maintaining receipt of payments.
  • Complete nightly bank deposits.
  • Interact with students using phone, email, texts, social media channels, and one on one communication to ensure accounts are less than 30 days past due.
  • FA Advisor must conduct a daily review of the aging reports and/ or internal tracking reports for payments due by active cohorts to manage meeting weekly cash goals.
  • Ensure payments are collected and processed on the due date. (If a due date falls on the weekend payment should be sought the Friday before.)
  • FA Advisor is to send via email details of graduate and/or drop accounts on the week of graduation date to McKenzie, NDFAP, and CEO for default management. (This must be done regardless of Term 3 status)
  • Complete a weekly review of grads and drops on aging to ensure accounts are current.
  • Manage the Tuition Options aging to ensure the students are making planned payments.
  • Set up graduates and drops who fall behind 60 days with no payments with TRW to initiate the letter campaign for collections. During this time the FA advisor must continue to reach out to the students. Using the letter campaign does not remove the responsibility of collection from the advisor.
  • Execute MPNs within by the end of the drop/add period.
  • Conduct Entrance and Exit counseling as due.
  • Follow up with pending financial aid students to ensure they have all information needed for their education decision to meet the app to enroll weekly goal.

Supervision Received
This is an independent position that reports to the Campus Director and National Director of Financial Assistance and Planning. Two mandatory weekly meetings take place:

  • Financial Aid Advisor to discuss goals to actual achievements;
  • Staff Meeting.

Supervision of Others
This individual may supervise another financial aid advisor should campus needs require.

Physical Demands
In order to fully service the staff and student needs this position requires the employee to often physically move from department to department. This is not a sedentary position.

  • Occasional lifting, bending, and climbing stairs
  • Frequent talking, listening, walking, sitting, and standing
  • Ability to perform multiple concurrent tasks and function in a fast-paced working environment

Work Experience Requirements

  • 3 years of business experience ideally within a financial aid/customer service background.
  • May need to successfully complete criminal and drug background check.

Education Requirements

  • 4-year college degree and/or experience equivalency.

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Excelon does not discriminate on the basis of race, religion, sex, gender, sexual orientation, national origin, marital or veteran status, disability, age, or any other characteristic protected by law.