In this day in the life guide, you will find out:
- What does a day as Loan Counselors looks like
- What do they do every day
- Things they do on a weekly or monthly basis
- How many hours do they work
The purpose of this is to give you a clear picture of this career so you can make a better career decision on whether this career is suitable for you or not.
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Typical Day for Loan Counselors
Here is a list of tasks that Loan Counselors do every day.
- Check loan agreements to ensure that they are complete and accurate, according to policies.
- Refer loans to loan committees for approval.
- Approve loans within specified limits.
- Submit applications to credit analysts for verification and recommendation.
- Analyze applicants’ financial status, credit, and property evaluations to determine feasibility of granting loans.
Weekly and Monthly Tasks
Here is a list of tasks that Loan Counselors do on a weekly or monthly basis.
- Maintain current knowledge of credit regulations.
- Review billing for accuracy.
- Maintain and review account records, updating and recategorizing them according to status changes.
- Assist in selection of financial award candidates using electronic databases to certify loan eligibility.
- Review accounts to determine write-offs for collection agencies.
- How many hours do Loan Counselors work per week? More than 40 hours per week
- What is the work schedule like? Regular (Set schedule and routine)
Indoors, Environmentally Controlled
In an Enclosed Vehicle or Equipment
Sounds, Noise Levels Are Distracting or Uncomfortable
Learn more about Loan Counselors
Related careers to Loan Counselors
This career is also closely related to Commercial Lending Vice President, Credit Counselor, Eligibility Consultant, Farm Mortgage Agent, Finance Manager, Financial Aid Administrator, Financial Aid Advisor, Financial Aid Coordinator, Financial Aid Counselor or Financial Aid Director.