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