UNIVERSITY of LOUISVILLE
Professional / Administrative Job Specification (3/99)
JOB TITLE: Repayment Specialist
CLASS CODE: 001233
Be responsible for collection and negotiation of Federal Perkins, HPSL, PCL, NSL and DSL loan accounts in accordance with Federal regulations and University policy.
DUTIES & RESPONSIBILTIES
Initiate Federal Perkins Loans, Nursing Student Loans, Primary Care Loans, Health Professions Loans and Loans to Disadvantaged Students collection calls during appropriate contact hours, including Saturdays. Skip-trace borrowers to facilitate contract. Respond to phone and counter inquiries.
Negotiate payment arrangements, hardship deferments and forbearance agreements with proper documentation. Initiate and respond to correspondence on delinquent accounts. Provide debt counseling. Assist with difficult borrowers. Review/approve entitlements. Coordinate assignment projects. Monitor federal due diligence requirements.
Collaborate and assist in office workflow which will impact default rates and collection of federal, campus-based programs. Coordinate assignment projects. Assist with exit interview and disbursement processing. Participate with Financial Aid Office in group Exit Interviews for graduate students. Assist in review and implementation of federal loan regulations.
Maintain financial hold listing. Monitor monthly and billing reports. Handle transcript denials and return checks. Process agency remittance statements and reports. Research customer complaints as needed.
Serve as facilitator of collections through primary collection agency, including preparing agency placements and maintaining tracking report. Work with U.S. Department of Education, credit bureau, and campus departments regarding delinquent federal loan accounts. Serve as liaison with student loan department of other universities or state agencies. Participate in state organizations relating to student loan collections.
Other Federal Loan fund duties as assigned.
KNOWLEDGE, TRAINING & SKILLS
Bachelor's degree in Business, Finance or Higher Education.
Four years of related experience. An equivalent combination of education, training and/or experience may be substituted for the requirements noted.
The intent of this document is to provide a representative summary of the types of duties and responsibilities that will be required of positions given this title and shall not be construed as a declaration of the specific duties and responsibilities of any particular position. Employees may be requested to perform job-related tasks other than those specifically presented.