Financial Aid Analyst

Ensures timely and accurate awarding and disbursement of student financial aid funds. Performs federal verification of financial aid files for those selected by the Department of Education's processor or the institution, and reviews/evaluates all assigned financial aid files for conflicting or discrepant data. Confirms eligibility for awards by reviewing ISIR, documents scanned in Image Now, cost of attendance, need analysis, enrollment levels, program data, and information available from the Department of Education and other entities involved in the administration of TIV student financial aid. Confirms eligibility for financial aid funds already awarded by others and adds, cancels, or adjusts aid funds as appropriate in the Student Information System. Review awards flagged as potential variance or discrepancy and takes steps to resolve or initiate as appropriate. Communicates with campus or other functional teams to resolve same in accordance with departmental policy and procedures. Monitors personal activity queue in Student Information System and completes required tasks so that activities can be closed in a timely and accurate manner. Follows-up on self-assigned reminders or activities assigned to other parties to ensure timely resolution and escalate as appropriate.

Responsibilities

• Perform federal verification of financial aid files for students selected by the Department of Education's processor or the institution (not verified by FAME), and reviews/evaluate both selected and non-selected financial aid files for conflicting or discrepant data.
• Review “C-Codes” for files assigned and evaluate information available to determine appropriate action and resolve.
• Determine/confirm eligibility for federal, state, institutional, or external awards by reviewing ISIR, documents scanned in Image Now, cost of attendance, need analysis, enrollment levels, program data, and information available from the Department of Education (e.g. COD, NSLDS, etc.) and other entities involved in the administration of TIV student financial aid (e.g. loan servicers, other schools, state agencies, etc.).Typically, should not require more than 25 minutes per student file.
• Monitor FAME Approved spreadsheets and appropriately update student packaging and document statuses in Student Information System to match FAME Approved spreadsheet, and review specific items required as stated in departmental procedure manual.
• Determine/confirm eligibility for federal, state, institutional, or external awards by reviewing SAI, cost of attendance, need analysis, enrollment levels, and program data in Student Information System. Typically, should not require more than 10 minutes per student file.
• Review variance reports (e.g., Pell Variance, Loan Variance, COA Variance, etc.) assigned by supervisors to identify award discrepancies or errors.
• Evaluate data available (e.g., from Student Information System, Image Now, state, or federal agency websites, etc.) to identify root cause of the variance or warning flag, determine appropriate course of action, and resolve. Typically, each flagged award should not require more than 5 minutes to review. If repackaging is deemed necessary, an additional 5 to 10 minutes is typical.
• Monitor personal activity queue in Student Information System and completes required tasks so that activities can be closed in a timely and accurate manner.
• Follows-up on self-assigned reminders or activities assigned to other parties to ensure timely resolution and escalate as appropriate.
• Document in Student Information System contact manager all actions taken to resolve activities in a professional and appropriate manner.
• Assist with testing new or modified functionality in financial aid software.
• Assist with updates and maintenance of student cost of attendance budget setup.
• May perform other duties as assigned.
  
  

Qualifications

• HS Diploma or equivalent required; Associate Degree from an accredited college or university preferred.
• May not be in default on a federal student loan or owe repayment on a federal grant.
• 2-3 years of experience (singly or combined) in the following: bookkeeping, data analysis, or Title IV financial aid administration.
• Ability to retain information and apply learned concepts to similar or new situations appropriately.
• Ability to communicate effectively and professionally with others both verbally and in writing.
• Ability to demonstrate attention to detail and retention of learned concepts.
• Familiarity with preparation of U.S. federal tax returns.