Financial Aid Analyst

American Career College; Irvine (CA); On-site; USD 52,000 - 72,000; Full time

Job summary

American Career College in Irvine, CA, seeks a Financial Aid Verifications Specialist to ensure timely awarding and disbursement of federal funds. You will perform federal verification, review ISIRs, cost of attendance, need analysis, and enrollment data, and update the Student Information System.

Strong attention to detail and communication are required. This role supports compliance with Department of Education procedures and collaborates with campus teams to resolve variances and maintain

Qualifications

• HS Diploma or equivalent required.
• Associate Degree preferred.

Responsibilities

• Perform federal verification of financial aid files for students selected by the Department of Education's processor or the institution, and review both selected and non-selected files for discrepancies.
• Review eligibility for federal, state, institutional, or external awards by reviewing ISIR, COA, need analysis, enrollment levels, and program data.
• Monitor and update packaging statuses in the Student Information System to align with approved spreadsheets.
• Assist with testing of new or modified financial aid software functions.
• May perform other duties as assigned.

Skills

Bookkeeping

Data analysis

Title IV admin

Education

High School Diploma

Associate degree preferred

Tools

Image Now

Student Information System

Job description

Summary

Ensures timely and accurate awarding and disbursement of student financial aid funds. Performs federal verification of financial aid files for those selected by the Department of Education's processor or the institution, and reviews/evaluates all assigned financial aid files for conflicting or discrepant data. Confirms eligibility for awards by reviewing ISIR, documents scanned in Image Now, cost of attendance, need analysis, enrollment levels, program data, and information available from the Department of Education and other entities involved in the administration of TIV student financial aid. Confirms eligibility for financial aid funds already awarded by others and adds, cancels or adjusts aid funds as appropriate in the Student Information System. Review awards flagged as potential variance or discrepancy and takes steps to resolve or initiate as appropriate. Communicates with campus or other functional teams to resolve same in accordance with departmental policy and procedures. Monitors personal activity queue in Student Information System and completes required tasks so that activities can be closed in a timely and accurate manner. Follows-up on self-assigned reminders or activities assigned to other parties to ensure timely resolution and eliminate as appropriate.

Essential Functions & Responsibilities

• Perform federal verification of financial aid files for students selected by the Department of Education's processor or the institution (not verified by FAME), and reviews/evaluate both selected and non-selected financial aid files for conflicting or discrepant data.


• Review “C-Codes” for files assigned and evaluate information available to determine appropriate action and resolve.


• Determine/confirm eligibility for federal, state, institutional, or external awards by reviewing ISIR, documents scanned in Image Now, cost of attendance, need analysis, enrollment levels, program data, and information available from the Department of Education (e.g. COD, NSLDS, etc.) and other entities involved in the administration of TIV student financial aid (e.g. loan servicers, other schools, state agencies, etc.).Typically, should not require more than 25 minutes per student file.


• Monitor FAME Approved spreadsheets and appropriately update student packaging and document statuses in Student Information System to match FAME Approved spreadsheet, and review specific items required as stated in departmental procedure manual.


• Determine/confirm eligibility for federal, state, institutional, or external awards by reviewing SAI, cost of attendance, need analysis, enrollment levels, and program data in Student Information System. Typically, should not require more than 10 minutes per student file.


• Review variance reports (e.g. Pell Variance, Loan Variance, COA Variance, etc.) assigned by supervisors to identify award discrepancies or errors.


• Evaluate data available (e.g. from Student Information System, Image Now, state or federal agency websites, etc.) to identify root cause of the variance or warning flag, determine appropriate course of action, and resolve. Typically, each flagged award should not require more than 5 minutes to review. If repackaging is deemed necessary, an additional 5 to 10 minutes is typical.


• Monitor personal activity queue in Student Information System and completes required tasks so that activities can be closed in a timely and accurate manner.


• Follows-up on self-assigned reminders or activities assigned to other parties to ensure timely resolution and elevate as appropriate.


• Document in Student Information System contact manager all actions taken to resolve activities in a professional and appropriate manner.


• Assist with testing of new or modified functionality in financial aid software.


• Assist with updates and maintenance of student cost of attendance budget setup.


• May perform other duties as assigned.

Minimum and Preferred Qualifications

• HS Diploma or equivalent required.


• May not be in default on a federal student loan or owe repayment on a federal grant.


• Associate Degree from an accredited college or university preferred.

Experience & Skills

• 2-3 years of experience (singly or combined) in the following: bookkeeping, data analysis, or Title IV financial aid administration.


• Ability to retain information and apply learned concepts to similar or new situations appropriately.


• Ability to communicate effectively and professionally with others both verbally and in writing.


• Ability to demonstrate attention to detail and retention of learned concepts


• Familiarity with preparation of U.S. federal tax returns.