Loan Collection Officer Duties
This is responsible and specialized work involving the
management of student loan accounts.
Duties of this position involve responsibility for the
administration and management of several categories of student
loan receivable with particular emphasis on those accounts which
have become or threaten to become difficult to collect or
seriously delinquent. Work also involves all facets of the
collection effort including counseling with prospective
borrowers, explaining the terms and conditions of loan contracts
and the obligations of the borrower, pre-graduation interviews
with loan recipients and scheduling of repayments. It further
involves a close working relationship with junior collection
officers in planning, coordinating and reviewing collection
techniques and negotiating acceptable repayment plans with
delinquent borrowers. The employee must be able to work with
considerable independence and limited supervision. Work is
reviewed principally through evaluation of collection
DUTIES AND RESPONSIBILITIES
Administers a segment of student loan receivable accounts.
Utilizes form letters and individualized correspondence and
telephone contacts to effect collection.
Reviews and evaluates delinquent student loan accounts and
recommends or initiates corrective action.
Plans and coordinates efforts of junior collection officers.
Assumes direct responsibility for seriously delinquent and
Recommends utilization of collection agencies or the initiation
of legal proceedings.
Evaluates effectiveness of several collection agencies.
Conducts office and group interviews of graduating students who
are leaving the university and advises them of privileges and
obligations under terms of loan agreement.
Approves postponements, deferments and teacher cancellations;
supervises and assists in preparation of special NDSL and Health
Professions status reports.
Supervises and assists in preparation of annual status reports
of the loan collection office and uncollectible accounts.
Performs related work as required.
EDUCATION AND EXPERIENCE
Completion of a Bachelor's degree in business, or a related
discipline AND three years related experience; OR an equivalent
combination of experience, training and/or education.
KNOWLEDGE, SKILLS AND ABILITIES
Thorough knowledge of regulations governing student loan
Knowledge of effective collection techniques and the ability to
select and apply appropriate technique(s) to individual
Knowledge of modern practices, procedures, methods, and
Ability to plan, organize and supervise collection efforts.
Ability to compose effective collection correspondence.
Ability to establish and maintain an appropriate recordkeeping
system for student loan accounts and credit information.
Ability to establish and maintain effective working
relationships with students and subordinate employees.