Loan Specialist - UT Chattanooga

University of Tennessee•Chattanooga, TN

6h•$41,000 - $43,000

About The Position

The Loan Specialist I performs operational and administrative functions supporting the delivery of student financial aid. The position primarily handles routine student loan processing, student communication, record maintenance, and assigned financial aid operations. It applies established federal, state, and institutional policies and procedures to support accurate, timely, and student-centered service. After appropriate training, the specialist independently manages routine assignments, monitors processing activities, resolves common discrepancies, and refers complex or unusual matters to the appropriate Financial Aid professional. The role is an initial point of contact for students and families seeking assistance with student loan requirements and financial aid processes. The position also supports the Associate Director with private education loan processing by reviewing documentation, monitoring certification requests, maintaining accurate records, and assisting with communication and follow-up with students and lenders. Prior financial aid experience is not required. The role provides training and progressively increasing responsibility, with appropriate oversight for regulatory interpretation, complex eligibility determinations, and exceptions to established procedures.

Requirements

Associate's degree or equivalent.
Effective written and verbal communication skills.
Ability to provide professional, responsive, and courteous customer service.
Basic computer proficiency and ability to learn administrative software, databases, and student information systems.
Ability to review information for accuracy, identify routine discrepancies, and maintain detailed records.
Ability to organize assignments, prioritize competing tasks, and meet established deadlines.
Ability to follow established policies and procedures while recognizing when guidance or escalation is needed.
Ability to maintain confidentiality and handle sensitive student information appropriately.
Ability to work independently on assigned tasks after training and contribute effectively to a team.
Prior financial aid experience is not required.

Nice To Haves

Bachelor’s degree or equivalent.
Experience in customer service, administrative support, student services, or a related office environment.
Experience using Microsoft Office applications and electronic document management systems.
Experience working with databases, information systems, or electronic forms.
Experience reviewing records for completeness and accuracy and handling confidential information in accordance with established procedures.
Knowledge of general office procedures, customer service practices, and recordkeeping principles.
Basic understanding of data accuracy, documentation, and confidentiality requirements.

Responsibilities

Process routine Federal Direct Loan transactions and other applicable student loan programs in accordance with established procedures and applicable requirements.
Review and process loan acceptances, reductions, cancellations, and adjustments within assigned authority.
Support the Associate Director with private education loan processing, including reviewing certification requests, verifying required information, maintaining documentation, and monitoring requests through completion.
Communicate and follow up with students, lenders, and other appropriate parties regarding private education loan requirements and processing status.
Enter, update, and maintain accurate loan information in the University's student information and financial aid systems.
Monitor assigned loan processing and disbursement activities and follow up on outstanding requirements or unresolved items.
Review student records for required loan documentation and resolve routine discrepancies using established procedures.
Identify processing issues, determine appropriate next steps within assigned responsibilities, and escalate complex cases as needed.
Maintain working knowledge of loan processing timelines, documentation requirements, and applicable office procedures.
Assist with implementing procedural updates and communicating changes affecting assigned loan functions.
Serve as an initial point of contact for students and families with questions regarding student loans, required documentation, and related financial aid processes.
Provide accurate, timely, and professional assistance by telephone, email, in person, and through approved communication channels.
Explain routine loan requirements, application steps, and available resources in clear, student-friendly language.
Review student records to identify outstanding requirements and provide appropriate instructions for resolution.
Follow up on student inquiries and assigned cases to support timely resolution.
Refer situations requiring regulatory interpretation, professional judgment, or additional review to the appropriate staff.
Maintain professional and confidential communication while supporting a positive student experience.
Maintain accurate electronic records and supporting documentation in accordance with university procedures and applicable requirements.
Conduct routine reviews of student records and loan transactions to identify missing documentation, inconsistencies, or processing errors.
Perform assigned quality-control reviews and correct routine errors within established procedures.
Maintain organized electronic and physical records to support efficient processing, documentation, and audit readiness.
Protect confidential student information and follow FERPA, information security standards, and University policies.
Report recurring discrepancies or procedural concerns to the appropriate supervisor and assist with corrective actions.
Perform assigned routine reconciliation activities involving loan records, transactions, and applicable financial aid systems.
Review assigned system outputs, including Automic processing reports, to identify errors, exceptions, or items requiring follow-up.
Research routine discrepancies and take appropriate action within established procedures.
Maintain documentation of completed reviews, identified issues, and corrective actions as required.
Assist with gathering records and supporting documentation for audits, reconciliations, and compliance reviews.
Refer unresolved discrepancies, unusual transactions, and potential compliance concerns to the appropriate Financial Aid professional.