Will “Financial Aid Director” 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
- Financial Aid Coordinator
- Farm Mortgage Agent
- Eligibility Consultant
Tasks for “Financial Aid Director”
- Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.
- Refer loans to loan committees for approval.
- Advise students on available financial-aid awards.
- Authorize or sign mail collection letters.
- Review accounts to determine write-offs for collection agencies.
- Maintain current knowledge of credit regulations.
- Compare data on student aid applications with eligibility requirements of assistance programs.
- Locate debtors using post office directories, utility services account listings, or mailing lists.
- Inform individuals and groups about the financial assistance available to college or university students.
- Provide entrance or exit loan counseling to students.
- Approve loans within specified limits.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Submit applications to credit analysts for verification and recommendation.
- Maintain and review account records, updating and recategorizing them according to status changes.
- Confer with underwriters to resolve mortgage application problems.
- Review billing for accuracy.
- Assist in selection of financial award candidates using electronic databases to certify loan eligibility.
- Analyze potential loan markets to find opportunities to promote loans and financial services.
- Interview applicants and request specified information for loan applications.
- Open accounts for clients and disburse funds from clients' accounts to creditors.
- Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs.
- Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.
- Counsel clients on personal and family financial problems, such as excessive spending or borrowing of funds.
- Match students' needs and eligibility with available financial aid programs to provide informed recommendations.
- Check loan agreements to ensure that they are complete and accurate, according to policies.
- Supervise loan personnel.
- Contact creditors to explain clients' financial situations and to arrange for payment adjustments so that payments are feasible for clients and agreeable to creditors.
- Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans.
Related Technology & Tools
- Personal computers
- Autodialers
- Desktop computers
- 10-key calculators
- Notebook computers
- Web browser software
- Sungard Higher Education PowerFAIDS
- Oracle PeopleSoft
- Microsoft Access
- SunGard Higher Education Banner Financial Aid
- Data entry software
- Microsoft Office
- Microsoft Internet Explorer
- EDExpress
- Student information systems SIS
- Microsoft Outlook
- Financial aid management system FAM
- ELM Resources ELM
- Datatel Colleague
- SAP
- Microsoft Excel
- Microsoft PowerPoint
- EMT Applications CounselorMax
- Microsoft Word