Collection Counselor

University of Michigan - Ann Arbor; Ann Arbor (MI); Remote; USD 40,000 - 55,000; Full time

Job summary

The University of Michigan - Ann Arbor seeks a Collection Counselor for its Student Loan Collections team within Financial Operations. This full-time role involves collecting student loan debts, providing borrower counsel, and ensuring compliance with federal regulations in a primarily remote work environment. Candidates must have at least a high school education and relevant collection experience.

Qualifications

• 2+ years of experience in student debt collection.
• Knowledge of FERPA, Fair Credit Reporting Act, PII regulations.
• Ability to correspond with diverse individuals.

Responsibilities

• Collect outstanding student loan balances through various communication methods.
• Counsel borrowers on their rights and responsibilities regarding loans.
• Determine deferment and cancellation eligibility and assist borrowers.

Skills

Communication skills

Customer service

Team collaboration

Problem-solving

Education

High school diploma

College degree (preferred)

Tools

Microsoft Office Suite

Zoom

Google platform

Oracle PeopleSoft

ECSI

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.

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.

• 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

• 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

• 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)

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.

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

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.

The University of Michigan is an equal employment opportunity employer.