Financial Aid Administrator

The Financial Aid Administrator’s (FAA) main responsibility is the administration of all student financial assistance programs in which the school participates. This requires maintaining the integrity of financial aid programs and ensuring compliance with regulations, policies and standards of state, federal, and accreditation agencies. Responsibilities include:

• Providing students and parents with information, advice and resources available that will enable them to meet their financial obligations to the school.

• Counseling students and parents about the process of applying for financial aid and the information needed to determine eligibility for aid.

• Providing students with consumer information disclosures, as required by federal, state and accrediting agency regulations.

• Reviewing students’ financial aid applications and/or student aid reports (SARs) to ensure completeness and accuracy.

• Determining students’ eligibility for financial aid, considering such factors as funds available, extent of demand, and needs of students.

• Preparing and mailing financial aid award packages and correspondence to students in a timely manner.

• Performing diligent follow-up to ensure that all required documentation is received from students prior to disbursement of funds, including those students randomly selected for verification.

• Monitoring student attendance, completion of hours/payment periods, and satisfactory academic progress (SAP).

• Originating and scheduling disbursement of funds in accordance with financial assistance program guidelines; authorizing payment of funds to student accounts or to students directly.

• Adhering to the principle of separation of functions (no single office or individual may authorize payments and disburse funds to students).

• Processing student requests for loan increases, including collecting documentation of student need within allowable expense categories.

• Calculating and returning Title IV funds to program accounts and post-withdrawal disbursements to students; notifying a withdrawn student who owes an overpayment and notifying the US Department of Education (ED) of the overpayment.

• Providing Direct Loan entrance and exit counseling to student borrowers as part of the award and delivery process.

• Preparing and maintaining school records and reports that document the administration of the financial aid office.

• Interacting with various outside groups, agencies, associations and individuals about issues concerning the school’s administration of financial aid programs.

• Reconciling student financial aid data provided to the business office to ensure that all payments have been made, return of funds have been accounted for, and program expenditures involving financial aid funds have been reported.

• Completing and submitting monthly, semi-annual and annual reports to state, federal and accrediting agencies including, but not limited to, the Integrated Postsecondary Education Data System (IPEDS), National Accrediting Commission of Career Arts & Sciences (NACCAS), Massachusetts Regional Employment Board, Massachusetts Rehabilitation Commission, US Department of Veteran Affairs, and ED.

• Preparing for and coordinating with other school offices in preparation for program reviews, site visits, and/or audits.

• Keeping current on changes in laws and regulations to ensure that the school remains in compliance.

• Maintaining access to relevant financial aid software systems, including regularly changing system passwords and user authorizations.

• Having a procedure to report any changes to ED about the school’s current eligibility status (e.g., change in ownership, address, name, officials, third-party servicers, etc.).

• Updating the written financial assistance policies and procedures manual.

Job Types: Full-time, Part-time

Pay: $800.00 - $1,000.00 per week

Work Location: In person

Salary : $800 - $1,000