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Student Financial Assistance Specialist

2 months ago

Miami, Florida, United States Beauty Academy of South Florida Full time
Student Financial Assistance Specialist

A Student Financial Assistance Specialist is responsible for assessing, approving, and distributing financial support to students in compliance with federal, state, and institutional regulations, policies, and operational guidelines. This role involves evaluating the financial circumstances of students and providing guidance to students and their families regarding available financial assistance options, application processes, and eligibility criteria. The specialist also monitors student academic performance and manages appeals related to academic progress. Additionally, this position participates in the planning and management of systems and procedures, implementing and coordinating specific programs and assignments aligned with the department's overarching goals.

Key Responsibilities
  • Possess comprehensive knowledge of all Title IV regulations and procedures relevant to higher education institutions.
  • Accurately process Title IV applications.
  • Maintain secure and precise student records.
  • Identify students who have not submitted their financial aid or loan applications for the current academic year and conduct regular follow-ups.
  • Establish disbursement timelines in accordance with the academic calendar and program duration.
  • Stay informed about new legislation and regulations impacting federal student financial aid programs available at the institution.
  • Educate students about the various financial assistance options provided by the institution and the eligibility criteria for each.
  • Clarify the following aspects to students: (1) payment schedule for approved loans; (2) payment plans if financial aid does not cover full tuition; (3) policies affecting disbursements, including satisfactory academic progress and withdrawals; (4) financial responsibilities if financial aid is not granted for the total requested amount; and (5) distribution of any remaining funds to the student upon program completion.
  • Document the type of financial aid awarded to students along with the approval date.
  • Ensure accuracy of all information prior to reporting; make necessary corrections before submission.
  • Input student data into various software systems.
  • Perform additional assigned tasks as required.