Specialist I, Default Prevention
About The Position
The Default Prevention Specialist is responsible for all efforts geared toward minimizing default on federal Direct Loans. Preliminary strategies include educating learners on the responsibility associated with receiving a student loan from the Department of Education. Other means of facilitating timely and consistent repayment of student loans include counseling and education for students as to financial literacy, loan entrance and exit processes, available payment options to remain in good standing, and the consequences of defaulting on a student loan. Provides additional support by connecting learners who are in default or at risk of default with their loan servicers. This position will develop a contact schedule with students beginning with entry to the institution and continue through payment of student loans.
Requirements
- An Associate’s Degree from an accredited institution in business, finance, accounting or related field is required
- At least two years of experience in financial services, student loan servicing, higher education, or counseling
- Demonstrated knowledge of Federal Student Aid
- Demonstrated proficiency in Microsoft Office applications
Responsibilities
- Monitor and analyze student loan accounts to identify borrowers at risk of default.
- Reach out to at-risk borrowers via phone, email, and other communication methods to discuss their financial situation and repayment options.
- Develop and implement personalized repayment plans and strategies for borrowers to prevent default.
- Provide borrowers with information on deferment, forbearance, consolidation, and other available options.
- Maintain accurate records of borrower interactions and interventions in compliance with regulatory requirements.
- Collaborate with internal departments and external partners to ensure timely processing of payments and account updates.
- Educate borrowers on financial literacy and resources available to help them manage their loans effectively.
- Prepare and present regular reports on default prevention activities and outcomes to management.
- Stay current on industry trends, regulations, and best practices in student loan management and default prevention.
- Participates in the successful implementation of other functional projects as they arise.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
Associate degree
