Director of Financial Aid

Description

The Director of Financial Aid is responsible for the overall administration and management of the financial aid work at Millikin University.  The Director provides leadership for financial aid functions and fosters effective communication with prospective students, Student Financial Services, Admissions and the community.   Given the nature of the role, the Financial Aid Director handles highly sensitive and confidential matters, maintaining the highest levels of trust and integrity.

Additional key responsibilities of the position include financial aid advising, maintaining financial aid records, supporting policy development, developing effective financial aid strategies, working with IT to create award packages, and enforcing academic satisfactory progress and program length standards. The Director also communicates with students regarding personal finances, academic records, registration activities, and financial needs, while certifying needs analysis, awards, and scholarships. Additionally, this position oversees the Federal Work Study (FWS) program and applies professional judgment in cases involving student-specific situations, such as unforeseen medical needs. The Director is also responsible for submitting institutional reports and ensuring the Title IV compliance of the financial aid program, while working to enhance the integrity and efficiency of financial aid recordkeeping.  This position will also work with the Director of Student Billing to ensure compliance with Return of Title IV (R2T4) funding guidelines.

 

ESSENTIAL DUTIES AND RESPONSIBILITIES include, but are not limited to, the following:

 

Reviews Ellucian Banner release guide and other documentation while working with Information Technology Office to implement Ellucian Banner upgrades and patch resolutions.

Routinely works to set-up aid year in both production and test environments of the Ellucian Banner system to test and process financial aid including, but not limited to: Pell Grant, SEOG Grant, TEACH Grant, Direct Loan, State of Illinois MAP Grant awarding, as well as institutional financial aid strategies for recruitment, budget /cost of attendance construction and financial aid award letter production.

Works with Institutional Research to provide data for required reports such as IPEDS, MAP Grant Advising narratives, as well as provides common data set information for surveys such as U.S. News and World and Petersons, NACUBO and other reports.

Responsible for financial aid specific mandated reporting such as FISAP, NCAA Division III financial aid report and budget submission data to ISAC.

Updates the Net Price Calculator (NPC) with the University’s chosen NPC vendor to ensure accurate estimates.

Develops and implements various aid policies and practices such as Year-round Pell, summer financial aid awarding, Satisfactory Academic Progress (SAP) policy Withdraw/Unofficial withdraw, professional judgement for special circumstances and dependency overrides, etc.

Participates as a member of the Standard Academic Progress (SAP) Committee, responsible for responding to SAP appeals and financial aid extension applications.

Determine eligibility for and oversee awarding, disbursement and reconciliation of all federal, state and institutional financial aid.

Develop data-driven institutional scholarship and grant policies to support enrollment, retention, and revenue goals.

Contribute to leadership group focusing on enrollment, retention, and marketing efforts.

Plan department objectives, organize department responsibilities, provide leadership to financial aid staff, and measure outcomes and progress.

Ensure institutional compliance with Title IV regulations and maintain the University’s Title IV Policies and Procedures manual. 

Monitor regulatory developments and lead the University through required changes 

Maintain the University’s Program Participation Agreement with the US Department of Education and the Illinois Student Assistance Commission. 

Prepare and serve as point of contact for annual Single Audit, and any other financial aid audits. 

Implement loan default prevention strategies and encourage responsible financial behavior in the student body. 

Certify veteran educational benefits and apply awards to account