Loan Counselors

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What do they do?

Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.

Also known as:

Commercial Lending Vice President, Financial Aid Administrator, Financial Aid Advisor, Financial Aid Counselor, Financial Aid Director, Financial Aid Officer, Financial Assistance Advisor, Financial Counselor, Loan Counselor, Peer Financial Counselor

Typical Wages

Annual wages for Credit Counselors in United States

★ You’re seeing wages for Credit Counselors because we don’t have information for Loan Counselors.
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Projected Growth Rate

Employment of Credit Counselors is projected to grow 2 percent from 2018 to 2028, more slowly than average compared to all occupations.

★ You’re seeing projected growth rate for Credit Counselors because we don’t have information for Loan Counselors.
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Projected Employment

No Data Available

Projected Employment Rankings For Virginia:

  • 2.6%

    Percent Change

    Ranks #21 in job growth rate
  • 80

    Annual Projected Job Openings

    Ranks #15 in net job growth
★ You’re seeing projected employment information for Credit Counselors because we don’t have information for Loan Counselors.

Select Type of Degree:

Typical College Majors

Majors that prepare Loan Counselors:

Indicates your preferred majors

★ Number of granted degrees for degree type, Bachelors degree, is listed after the major.

Education Level

  • Doctorate or Professional Degree (1.1%)
  • Master's degree (10.3%)
  • Bachelor's degree (39.7%)
  • Associate's degree (9.8%)
  • Some college, no degree (24.9%)
  • High school diploma equivalent (13.3%)
  • Less than high school diploma (1%)

Percent of workers in this field

★ You’re seeing education information for Credit counselors(1) because we don’t have information for Loan Counselors. Please note the information may not be the same for both occupations.

Colleges that Prepare

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Skills

People in this career often have these skills:

  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Speaking - Talking to others to convey information effectively.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
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Knowledge

People in this career often know a lot about:

  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
  • Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
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Abilities

People in this career often have talent in:

  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
  • Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
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Activities: what you might do in a day

People in this career often do these activities:

  • Confer with others about financial matters.
  • Educate clients on financial planning topics.
  • Assess financial status of clients.
  • Inform individuals or organizations of status or findings.
  • Verify application data to determine program eligibility.
  • Authorize financial actions.
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This page includes data from:

O*NET OnLine Career data: O*NET 24.3 Database by the U.S. Department of Labor, Employment and Training Administration (“USDOL/ETA”). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA

Occupation statistics: USDOL U.S. Bureau of Labor Statistics Occupational Employment Statistics

careeronestop logo Videos: CareerOneStop, USDOL/ETA and the Minnesota Department of Employment & Economic Development

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