Student Loan Prevention Specialist
4 weeks ago
The Default Prevention Specialist is a crucial role at Nightingale College, responsible for minimizing default on federal Direct Loans. This position involves educating learners on the responsibility associated with receiving a student loan from the Department of Education, as well as counseling and education on financial literacy, loan entrance and exit processes, available payment options, and the consequences of defaulting on a student loan.
Key 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.
Qualifications and Education Requirements:
- An Associate's Degree from an accredited institution in business, finance, accounting, or a 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.
About Nightingale College:
Nightingale College is an equal opportunity employer committed to diversity and inclusion. Our mission is to elevate education, health, and employment systems through facilitation of academic achievement, personal growth, and professional development of our learners, alumni, and collaborators, while serving diverse communities. We are proud to have graduated over 3,400 nurses serving communities in need.
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