How To Become a Loan Counselor

Stan T.Career, RequirementsLeave a Comment

How Long Does It Take, What Degree Do You Need, and More

Loan Counselors

Loan Counselors 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.

Salary
$49940
Becoming One
Hard
Education
No degree required
Job Satisfaction
Low
Job Growth

Personality



What degree do you need

Recommended degree level

High School Diploma

We did a survey to ask other Loan Counselors what degree they had when they became a Loan Counselor. Here are the results.
High School Diploma
39.45%


College Certificate
27.33%


Bachelor’s Degree
25.71%


One of the most common questions that we always get is what major or degree do I need to become Loan Counselors or what courses do I need to take.

We also asked Loan Counselors what did they major in college or university and here are the top 5 most popular majors that came up.

Banking and Financial Support Services
Financial Planning and Services
Credit Management

The majority of Loan Counselors typically enter the occupation with a Bachelor’s Degree in Finance, business administration or a related field.



Featured Schools

How hard is it

Difficulty
Hard

You will need a considerable amount of work-related skill, knowledge or experience to be a Loan Counselor. For example, an accountant must complete 4 years of college and work for several years in accounting to be considered qualified.

Careers in this difficulty category will usually need several years of work-related experience, on-the-job training, and/or vocational training. These careers usually involve coordinating, supervising, managing, or training others. Similar careers include sales managers, database administrators, chemists, and art directors.


Related work experience required
3 to 6 months

3 to 6 months
37.04%


6 months to 1 year
27%


1 to 2 years
14.23%


Job training
6 months to 1 year

6 months to 1 year
37.97%


1 to 3 months
24.27%


3 to 6 months
23.2%



License and certifications

Do you need any license or certification


Skills required

We asked other Loan Counselors if they could only have 5 skills, what would they be. Here is what they said.

1. Active Listening what does this mean
2. Critical Thinking what does this mean
3. Reading Comprehension what does this mean
4. Speaking what does this mean
5. Social Perceptiveness what does this mean

= Hot in-demand that most employers are looking for


Knowledge required

Just like any other job, you will need certain know-hows to excel at your job. Loan Counselors are generally very knowledgeable in these 5 key areas.

1. Customer and Personal Service what does this mean
2. English Language what does this mean
3. Clerical what does this mean
4. Mathematics what does this mean
5. Administration and Management what does this mean


Learn more about Loan Counselors

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Job Description
Salary
Requirements (You are here)
Quiz

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Related to Loan Counselors Requirements

Loan Counselors requirements, how to become Loan Counselors, degree required to be a Loan Counselor, Loan Counselors license and certifications, majors to be a Loan Counselor, is it hard to become a Loan Counselor and how long does it take


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