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Loan Counselors

Also called: Financial Aid Counselor, Financial Aid Director, Financial Aid Administrator, Financial Assistance Advisor

What 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.
On the job, you would:
  • 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.

Knowledge

Business
  • customer service
  • administrative services
Arts and Humanities
  • English language
Math and Science
  • arithmetic, algebra, geometry, calculus, or statistics
  • psychology
Safety and Government
  • law and government

Skills

Basic Skills
  • listening to others, not interrupting, and asking good questions
  • thinking about the pros and cons of different ways to solve a problem
Problem Solving
  • noticing a problem and figuring out the best way to solve it
Social
  • understanding people's reactions
  • changing what is done based on other people's actions

Abilities

Verbal
  • read and understand what is written
  • communicate by speaking
Ideas and Logic
  • make general rules or come up with answers from lots of detailed information
  • notice when problems happen
Attention
  • pay attention to something without being distracted
  • do two or more things at the same time
Math
  • add, subtract, multiply, or divide

Personality

People interested in this work like activities that include leading, making decisions, and business.
They do well at jobs that need:
  • Integrity
  • Stress Tolerance
  • Adaptability/Flexibility
  • Initiative
  • Concern for Others
  • Cooperation

Technology

You might use software like this on the job:

Data base user interface and query software
  • EDExpress
  • ELM Resources ELM
Internet browser software
  • Microsoft Internet Explorer
  • Web browser software
Spreadsheet software
  • Microsoft Excel

Education

Education: (rated 4 of 5)
bachelor's degree or
high school diploma/GED
usually needed

Get started on your career:

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Job Outlook

Average Outlook
New job opportunities are likely in the future.
Salary
$40,280
per year, on average
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See more details at O*NET OnLine about loan counselors.