Student Loan Debt Collector

Department:
Administration



JOB SUMMARY:

We are seeking to hire a

Student Loan Debt Collector

who can provide high-level professional communication, documentation and process flow management for accounts receivable of student loan agreements.

This position is responsible for contacting individuals who have defaulted on their student loan payments and working to recover the outstanding debt. This role involves a combination of communication skills, financial knowledge, and an understanding of relevant regulations. Experience with Debt collections, payment plans, assisting individuals understanding of satisfying outstanding debt is a MUST for this role. Get in the fast lane with a fast-paced environment to enhance your skills and experience. Empathetically focused on the understanding of a student's situation but assist in creating a plan to prevent default.

JOB DESCRIPTION:

Key Responsibilities:

Contracting borrowers through phone calls, emails, and written correspondence to discuss their overdue student loan payments
Using effective communication skills to establish rapport, understand borrowers' financial situations, and offer assistance in finding appropriate repayment options
Providing clear and accurate information about the loan terms, repayment plans, and available resources to help borrowers make informed decisions
Negotiating and setting up repayment plans based on borrowers' financial capacities and the guidelines provided by the lending institution or regulatory bodies
Documenting all interactions and activities in a detailed and organized manner in compliance with company policies and regulations
Staying updated on relevant laws, regulations, and policies related to debt collection and student loans to ensure compliance in all interactions
Maintaining a respectful and empathetic approach during communications, treating borrowers with dignity and understanding
Escalating complex cases to higher authorities or supervisors when necessary
Collaborating with internal teams, such as legal and compliance departments, to ensure adherence to company policies and industry regulations
Investigating and resolving all conflicting discrepancies or disputes from agreement holders
Assisting borrowers in understanding the consequences of continued non-payment, such as potential credit score impact and legal actions
QUALIFICATIONS:

Minimum Qualifications:

High school diploma or equivalent
MS Office experience
Strong communication skills, both verbal and written, with the ability to convey complex information clearly and empathetically
Excellent negotiation and problem-solving abilities
Familiarity with financial terminology and basic knowledge of loan structures
Attention to detail and accuracy in documenting interactions and data
Ability to handle difficult or emotional conversations with borrowers in a professional manner
Knowledge of relevant regulations, such as the Fair Debt Collection Practices Act (FDCPA), and a commitment to ethical conduct
Preferred Qualifications:

Bachelor's degree in business, accounting, business, finance or related field
Exceptional documentation experience
Ability to analyze and run reports
Experience with research
Database utilization experience
Proficiency in using customer relationship management (CRM) software and Microsoft Office Suite
Hard debt collections experience
High volume and fast paced environment experience
Student loan collections experience
SKILLS & ABILITIES:

Relationship building
Record keeping
Time management
Attention to detail
Leadership
Collections
Customer service
Communication
Negotiation
Empathetic
Report generation
Microsoft Excel
Delegation
Research
Status tracking
PHYSICAL DEMANDS:

Prolonged periods sitting at a desk and working on a computer
Regular use of hand and finger dexterity
WORK EXPERIENCE:

3+ years of collections coordination, AR and/or overall collections experience

Workshift:
M-F (Day) (United States of America)

Education:

In compliance with Federal and State equal employment opportunity laws, qualified candidates are considered for all positions without regard to race, color, religion, sex, national origin, age, marital status, veteran status, non-job-related disability, or any other protected group status.