Collection Counselor

University Of Michigan; Ann Arbor (MI); Hybrid; USD 45,000 - 60,000; Full time

Job summary

The University of Michigan seeks a dedicated Collection Counselor for its Student Loan Collections team. This full-time role involves engaging with borrowers to collect outstanding student loan debts while ensuring compliance with federal regulations. The successful candidate will demonstrate exceptional customer service skills, collaboration, and the ability to manage sensitive conversations in potential remote or hybrid work settings. A comprehensive benefits package, including flexible work options and generous time off, ensures a supportive work-life balance.

Benefits

Flexible work environment

Generous time off

Retirement plan with matching contributions

Comprehensive health insurance options

Life insurance

Long-term disability coverage

Flexible spending accounts

Qualifications

• 2+ years of experience collecting student debt, knowledge of FERPA.
• Proven ability to work independently in a remote environment.
• Ability to handle difficult conversations.

Responsibilities

• Collect student loan and outstanding balances via phone and email.
• Counsel borrowers about their rights with respect to their loans.
• Determine deferment and cancellation eligibility.

Skills

Collaborative

Customer Service

Communication

Problem Solving

Education

High school education (college degree preferred)

Tools

Microsoft Office Suite

Zoom

Google platform

Job description

A cover letter and resume are important submissions for our hiring team to get a sense of your experience. In the cover letter, in two pages or less, please let us know how your career skills will align with this role. Due to system limitations, please submit both a cover letter and resume as one single file. These documents will be used to assess your communication skills and attention-to-detail.

Job Summary

We are looking for a Collection Counselor to join our Student Loan Collections team in Financial Operations. This position is one of 14 team members responsible for the collection of student loan debt and outstanding student account balances through telephone, emails, letters, and personal contact.

Why Work at Michigan?

In addition to a career filled with purpose and opportunity, the University of Michigan offers a comprehensive benefits package to help you stay well, protect yourself and your family and plan for a secure future. Benefits include:

• Flexible work environment
• Generous time off
• A retirement plan that provides two-for-one matching contributions with immediate vesting
• Many choices for comprehensive health insurance
• Life insurance
• Long-term disability coverage
• Flexible spending accounts for healthcare and dependent care expenses

Responsibilities*

• Collect student loan and student account outstanding balances using various means of communication such as, telephoning appropriate parties, sending written communications by email or letter, and video conferencing
• Obtain missing information such as borrower addresses and telephone numbers by searching relevant university databases, or by skip tracing
• Follow federal and state regulations governing collection of student debt when placing telephone calls or sending email communications, pre-acceleration letters, and collection letters
• Counsel borrowers, and their representatives, about their rights and responsibilities with respect to their loans and other debt, while handling any disputes
• Determine deferment and cancellation eligibility and assist borrowers in obtaining these loan benefits, often collaborating with Records team members to ensure compliance with regulations
• Use collection knowledge and experience when assisting disgruntled borrowers with repayment and sensitive matters, consulting with manager as appropriate

Required Qualifications*

• Completion of high school education, with college degree preferred
• Two or more years of experience collecting student debt, including knowledge of FERPA, the Fair Credit Reporting Act and the rules regarding Personal Identifiable Information
• Must be collaborative and teamwork oriented
• Passion for high-quality customer service
• Proven ability to work independently in remote work environment
• Ability to correspond appropriately with a variety of individuals from diverse backgrounds
• Ability to handle difficult conversations
• Working knowledge of PCs and desktop software, Microsoft Office Suite, Zoom, and Google platform

Desired Qualifications*

• Knowledge of university policies and federal regulations involving institutional loans and student accounts collections
• Experience working with complex student administration systems (Oracle PeopleSoft) and loan servicing software (ECSI)

Work Schedule

This is a full-time position and reports to the Collection Manager. As part of the University of Michigan Finance Division's Future of Work initiative, work may be both onsite and remote based on the needs and is subject to change. Currently, you will be primarily remote.

Modes of Work

Positions that are eligible for hybrid or mobile/remote work mode are at the discretion of the hiring department. Work agreements are reviewed annually at a minimum and are subject to change at any time, and for any reason, throughout the course of employment. Learn more about the work modes .

Additional Information

NOTE: Candidates for this position must be legally authorized to work in the United States. Visa sponsorship is not available for this position.

Application Deadline

Job openings are posted for a minimum of seven calendar days. The review and selection process maybegin as early as the eighth day after posting.Thisopening may be removed from posting boards and filled anytime after the minimum posting period has ended.

U-M EEO Statement

The University of Michigan is an equal employment opportunity employer.