Will “Financial Aid Coordinator” be Replaced By Robots? 🤔
Unknown Chance of Automation
Sadly, the research paper did not provide any information about this occupation. Maybe have a look at our directory?
Job Description
Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
Job Details
- The SOC (Standard Occupational Classification) code is 13-2071.01
☝️ Information based on the reference occupation “Loan Counselors”.
Also Known As…
- Loan Counselors
- Peer Financial Counselor
- Loan Counselor
- Financial Counselor
- Financial Assistance Advisor
- Financial Aid Officer
- Financial Aid Director
- Financial Aid Counselor
- Financial Aid Advisor
- Financial Aid Administrator
- Commercial Lending Vice President
- Loan Consultant
- Financial Assistance Specialist
- Farm Mortgage Agent
- Eligibility Consultant
Tasks for “Financial Aid Coordinator”
- Supervise loan personnel.
- Open accounts for clients and disburse funds from clients' accounts to creditors.
- Maintain and review account records, updating and recategorizing them according to status changes.
- Submit applications to credit analysts for verification and recommendation.
- Counsel clients on personal and family financial problems, such as excessive spending or borrowing of funds.
- Analyze potential loan markets to find opportunities to promote loans and financial services.
- Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs.
- Assist in selection of financial award candidates using electronic databases to certify loan eligibility.
- Check loan agreements to ensure that they are complete and accurate, according to policies.
- Authorize or sign mail collection letters.
- Confer with underwriters to resolve mortgage application problems.
- Refer loans to loan committees for approval.
- Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.
- Review accounts to determine write-offs for collection agencies.
- Match students' needs and eligibility with available financial aid programs to provide informed recommendations.
- Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans.
- Inform individuals and groups about the financial assistance available to college or university students.
- Review billing for accuracy.
- Maintain current knowledge of credit regulations.
- Contact creditors to explain clients' financial situations and to arrange for payment adjustments so that payments are feasible for clients and agreeable to creditors.
- Approve loans within specified limits.
- Locate debtors using post office directories, utility services account listings, or mailing lists.
- Advise students on available financial-aid awards.
- Compare data on student aid applications with eligibility requirements of assistance programs.
- Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Provide entrance or exit loan counseling to students.
- Interview applicants and request specified information for loan applications.
Related Technology & Tools
- Notebook computers
- 10-key calculators
- Desktop computers
- Autodialers
- Personal computers
- ELM Resources ELM
- Financial aid management system FAM
- Oracle PeopleSoft
- Microsoft Word
- EDExpress
- Data entry software
- SAP
- Datatel Colleague
- Microsoft Excel
- EMT Applications CounselorMax
- Microsoft Outlook
- Microsoft Internet Explorer
- Microsoft Access
- Student information systems SIS
- Web browser software
- Microsoft PowerPoint
- Microsoft Office
- SunGard Higher Education Banner Financial Aid
- Sungard Higher Education PowerFAIDS