Financial Services Specialist

Medford, Middlesex County
May 14, 2014

Financial Services Specialist-14000305

The department is responsible for overseeing and administering Federal Perkins loans, Federal HPSL loans, and Tufts institutional loans for the Medford, Boston, and Grafton campuses while maintaining compliance with Federal and State regulations and Federal Trade Commission laws; timely collection of loan and tuition receivables due to the university, disbursement of all loans, decisions on bad debt write-offs and their collection; tracking of Federal Perkins cohort default rates, communicating with enrolled students and graduated borrowers regarding their accounts, and evaluating borrower financial information for determining payment arrangements.  The department must assure the accuracy of the loan servicer's database for billing of all borrowers and reporting to the national credit bureaus and the National Student Loan Data System; work with the Department of Education on assigning uncollectible Perkins loans; liaison with all Tufts Aid offices, collection agencies and collection attorney.

Under the direction of the Loan and Collection Manager, the Financial Services Specialist must be able to provide a careful assessment of confidential financial information provided by borrowers in determining repayment obligations, while complying with Federal and State regulations. The Specialist will be involved in facilitating departmental projects for university loan programs and tuition collections. The Specialist electronically transmits information to our billing servicer related to the disbursement and servicing of loan programs. Regularly review that all electronic processes are in compliance with FERPA laws.  Oversee workflow of department's student worker(s) to ensure compliance and productivity.  Ensure the completeness, accuracy, and integrity of the loan programs for the university.  Coordinate with the financial aid offices on all campuses in determining proactive default prevention initiatives. Liaison between billing servicer, collection agencies, collection attorney, and financial aid offices regarding borrowers' loan accounts and assigned tuition debts.

Basic Requirements:

  • One year experience with loans.
  • High School Diploma/GED
  • Proficient in Microsoft Word and Excel
  • Strong organizational, analytical and problem solving skills.
  • Ability to manage multiple projects, meet deadlines, and be a team player.
  • Strong customer service, verbal and written communication skills.
  • An employee in this position must complete all appropriate background checks at the time of hire, promotion, or transfer.

Preferred Qualifications:

  • Bachelor's degree.
  • Experience with PowerFAIDS Financial Aid system.
  • Student loan experience preferred.  
  • More than one year related experience a plus.



Tufts University is an AA/EO employer and actively seeks candidates from diverse backgrounds. Please see the Tufts University non-discrimination statement.