Perkins Loan Specialist - Metropolitan State University of Denver in Denver Colorado

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Metropolitan State University of Denver

Denver, Colorado 80217

United States

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Detailed Job Description

This position administers and assures compliance with all federal regulations regarding administration and collection procedures for Perkins Loans. This position must maintain an excellent working knowledge of constantly changing guidelines as published by the U.S Department of Education. This position is also responsible for maintaining all fiscal records, reconciled payments from ACS, CASHNet, Banner, Collection Agencies and formulating the appropriate accounting entries. In addition this position will interface with students and former students/borrowers and maintain loan files for individuals with outstanding Perkins Loan balances. This includes all requirements from start to finish after the award is made by the Department of Financial Aid.
This position also oversees five or more work-study students.
Oversight of the following processes includes:


35% Maintains/inputs/reconciles the loan management system (ACS) and maintains individual Federal Perkins loan files and compliance according to the U.S. Department of Education requirements. This includes identifying, tracking, and monitoring Perkins Loan borrowers. Reconciles Perkins loan accounts. Identifies and corrects any errors made on the above named accounts. Develops procedures coordinated with federal law that properly documents files, covers due diligence in collection procedures, referring accounts to different collections agencies, recalling accounts from collections. Approve the write off of uncollectible accounts within Federal guidelines, and assigning accounts as appropriate to the Department of Education. Authorizes collection agencies to file suit against borrowers. Represents Metropolitan State University when case goes to court. Testifies on behalf of the University. Position must also reconcile the monthly reports from different Collections Agencies, track all accounts that are assigned to collections to ensure that they are reported correctly, as well as detect, discover, and expose information, problems, violations, concerning all accounts that have been assigned to collections. Clarify data with different collection agencies to correct factual errors detected in regards to borrowers accounts. Assures maintaining cohort default rate below 15% to assure continuing funding.

25% Communicating with borrowers regarding past due payments, deferments, or forbearance. Make decisions/recommendations around satisfactory rehabilitation payments, the approval and amount of time granted in a forbearance or deferment, placement of holds and other restrictions for access to transcripts, diploma, registration, etc., based on documents, interactions with the borrowers, and current account status. Ensures entrance interviews are complete to inform borrowers of their rights and responsibilities regarding the Perkins Loan Program. Conduct exit interviews for graduating or withdrawn students. Process consolidation requests as well as Consolidation payments. Process Total and Permanent Disability (TPD) Discharges accordingly. Uses ACS and Banner Reports to process, determine, and place students into/out of school status. Updating separation dates according to last term attended. Determines if students are eligible for continued in school status, or if they should be booked into repayment according to the guidelines set forth by federal Perkins guidelines.

10% Direct liaison between Metropolitan State University of Denver, the contracted billing servicer Affiliated Computer Services (ACS), and third party collection agencies. Remain up-to-date with Federal regulations governing Federal Perkins student loans, the Fair Debt Collection Practices Act, as well as Consumer Protection laws. Ensure service providers maintain compliance.

10% Maintain the integrity of data between Banner, our Perkins Loan Servicer (ACS), and our collection agencies. Monitor the monthly reports from Perkins Loan Services for correct reporting information. Processes paid in full accounts and posted payments to Perkins Loan Services (ACS). Updates borrower records to ensure account information is current.

10% Performs the following accounting analyses using different sub systems: auditing accounts, reviewing Borrower’s loans advances, reconciling advances accounts, posting entries, submitting reports, and posting adjustments. Reconciles payments received by Collections Agencies

10% Hire, supervise, train, schedule, and approve payroll for student/hourly employees. Supervise and continually update staff on regulations and procedures. Compile, analyze and report on mail, phone, and text campaigns. Maintain data on Cohort default rate and payments and compile on monthly basis.

Required Qualifications

1. Bachelor’s Degree in accounting, finance or other business related field or equivalent education and related experience. ( Please note: one year of education is equal to two years of experience).

2. Accounting experience including adjustments, reconciling monthly activity reports using different sub systems.

3. Three years’ experience working with collections or accounts receivable.

4. Experience providing supervision and performance management for staff.

5. Experience with Federal and State rules and regulations and compliance.

Preferred Qualifications

1. Experience in an institution of higher education.

2. Experience with Banner system or similar related financial database system.

3. Experience with Perkins Loans.

4. Demonstrated experience with effective organizational skills.

5. Experience working effectively as part of a team.

6. Excellent interpersonal and leadership skills.

7. Requires effective written and oral communications skills.

Special Instructions to Applicants

IMPORTANT: In order to be considered as an applicant you must be apply via the online application system,

References refers to a list of three professional references and their contact information.

Official transcripts will be required of the candidate selected for hire.

Keyword Phrases

  • Accounting Services
  • Perkins Loan Specialist
  • Diverse institution
  • Urban environment
  • Comprehensive college offering bachelors & masters
  • Financial Aid
Employment Type:Administrative Staff
Degree Required: Bachelors
Experience: See Job Description
Level of Job: Analyst / Staff
Salary: Not Specified
Type of School:4 - Year / Masters Institution
Application Requirements: CV/Resume
Cover Letter