Loan Servicing Specialist

MOHELA is a not-for-profit student loan servicer. We are a contracted servicer with the Department of Education. We have been actively providing financial support and other support to Missouri's higher education programs for more than 40 years.
MOHELA is looking for a passionate and skillful Loan Servicing Specialists for our Credit Team and IDR/Enrollment/NSLDS Team . Starting pay rate is $18/hr.
MOHELA offers competitive salary and a benefit package that includes paid personal and vacation time-off, insurances for medical, dental, life, short-term disability, 401K plan with dollar-for-dollar match up to 8% of salary, and tuition assistance.
What You Will Be Doing:
The Specialists are responsible for the proper maintenance of borrower accounts through the processing and completion of assigned correspondence and applications. The Specialist is also responsible for proper documentation and response in order to ensure the timely and accurate transition of a loan into repayment status, by the use of various internally and externally produced reports.

• Borrower Correspondence Processing - Research and analyze borrower accounts based upon various Loan Servicing Processing queue tasks. Complete borrower requests based upon MOHELA established policies and procedures to grant borrowers various requests such as repayment plan changes, deferments and forbearances, specialized military processing as well as Specialty Servicing borrower requests via approved contractual guidelines. Initiate via COMPASS system borrower communications (letter or paperless based upon borrower preference) and complete tasks in appropriate turnaround times per MOHELA guidelines.

• Borrower File Request Processing – A number of borrower processing requests are received via electronic file. Most common are e-signed Income Driven Repayment plan requests and Department of Defense military eligibility tasks. Specialists work tasks in those queues, analyzing borrower eligibility for each program and administering the program on each borrower account deemed eligible.

• Account Adjustments - Based on Authority guidelines and State and Federal Regulations, the specialist should make the necessary adjustments based on the research the specialist conducted. The changes that can be made by the specialist include; OSD\EGD, maturity dates on notes, adding forbearances, capping interest, disclosing repayment terms, updating and/or changing repayment plans, NSLDS processing and in limited cases adding In School deferments and ending forbearances and deferments. To forward information to the appropriate department for further adjustments.

• NSLDS Reporting (Direct Lending) - Receive electronic weekly NSLDS feed for loan information including enrollment, repayment status, etc. Work various error reports and data monitoring reports to make sure MOHELA reporting is in sync with NSLDS and DL reporting. Review weekly NSLDS error report and maintain acceptable NSLDS error rates per MOHELA DL contract. Participate in weekly NSLDS calls/meetings respond to internal and external (DL) requests concerning borrower reporting accuracy or required updates.

For those assigned to the Credit Team:
Quality Control - Perform quality control for Credit Reporting
Direct Credit Disputes - Conduct investigation of correspondence and borrower’s account and consult established guidelines for credit clearing and response.
In-Direct Credit Disputes - Conduct investigation of information received in e-Oscar and review borrower’s account and consult established guidelines for credit clearing.
Monthly Exception Reports - Conduct investigation of the various errors appearing and consult established guidelines for corrections.
Monthly Credit Bureau Sampling Report - Conduct investigation of random sample and consult established guidelines to ensure accurate reporting.
Credit Rehabs - Review guarantor reports for loans that have gone through the rehabilitation process and delete the applicable tradeline(s).
Credit Suppression - Manual updates to ensure accurate reporting, as applicable.
Reports - Daily task volume statistics provided to applicable management
What Experience You Will Bring: 12 months of student loan, banking, or Loan Servicing experience High School diploma or GED with a preference for one or more years of college coursework

• Ability to prioritize tasks.
• Must be highly attentive to details.
• Emphasis on customer service and quality.
• Ability to analyze problems and devise solutions.
• Competency in Microsoft Excel and Microsoft Word.

To build a diverse workforce, MOHELA encourages applications from individuals with disabilities, minorities and veterans.
MEDICAL, DENTAL and VISION
MOHELA offers a comprehensive medical plan that includes prescription coverage for employees and their dependents. A health savings account is available for employees to save for the future or to pay current medical expenses. We share the cost of insurance premiums with our employees. Vision coverage is available at no cost and offers free eye exams, and discounts on glasses and contacts. Dental insurance offers preventive care, dental work, and orthodontics (for dependent children) at various coverage percentages. MOHELA offers an incentive for employees who waive MOHELA’s medical plan and obtain medical coverage with another group medical plan.
EARNED TIME OFF
And the clock starts now! Time off begins to build when your employment starts. We observe 6 holidays a year: New Year’s Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving and Christmas. We also offer 4 Personal Holidays for you to use! You will receive at least 22 days of available time off in Personal Time Off (PTO) and Vacation benefits. The days roll over from year to year, if unused. Family is very important to MOHELA. Birth and adoption time off benefits are also available to employees.
TUITION REIMBURSEMENT
One of MOHELA’s core values is education. We support helping our employees and their dependents reach their educational goals. After 3 months of employment, you can qualify for up to $12,000 per calendar year in tuition reimbursement.
401(k) MATCH UP TO 8%
After you complete six months of service, MOHELA will match each dollar you contribute up to the first 8% of your salary. You can contribute up to 50% of your annual salary. It’s simple to contribute through payroll deduction. This benefit is in addition to the Pension Plan!
Must be able to obtain a Federal 5C Security Clearance after hire
We are an EEO/AA Employer. We do not discriminate in hiring on the basis of race, color, national origin, sex, gender identity, sexual orientation, religion, age, disability, protected veteran status, or any other characteristic protected by federal, state or local law
To build a diverse workforce, MOHELA encourages applications from individuals with disabilities, minorities and veterans.
In compliance with the American Disabilities Act Amendment Act (ADAA), if you have a disability and would like to request an accommodation in order to apply for a position with MOHELA, please call please call 636.733.3700 x3571, TDD 7-1-1

Pay: $18.00 per hour